Oxley Holdings

Oxley reports more than doubling of 3Q earnings on Chevron House fair value gain
SINGAPORE (May 13): Oxley Holdings saw it earnings jump 121% to $67.4 million for the 3Q19 ended March, from $30.6 million a year ago. Earnings per share (EPS) grew to 1.64 cents for 3Q19, compared to 0.78 cent in 3Q18. The increase was largely attributable to a one-off fair value gain on the commercial building at 30 Raffles Place, formerly known as Chevron House. As a result, other gains ...
US Fed to keep rates steady, UOB sees 2020 cut, No Signboard shares slump on CAD probe
(May 6): The US central bank is keeping rates steady, with Federal Reserve chairman Jerome Powell saying he sees no immediate need to move interest rates either higher or lower, and that the Fed is watching for a rebound in persistently sluggish inflation. On May 1, it kept the target range for the benchmark federal funds rate unchanged at 2.25% to 2.5%, which is where the rate has been since ...
After Hyflux fall, Singapore debt buyers scrutinise these firms
(Apr 26): The collapse of Singapore’s water treatment firm Hyflux has increased investor scrutiny over other debt-laden companies that have sold bonds in the local currency. More defaults could occur as earnings may worsen in a sputtering economy and riskier borrowers that creditors lent to amid low interest rates now struggle, according to S&P Global Ratings. Growth in Singapore’s ...
Oxley's potential $950 mil deal falls through after Gracious Land defaults on $38 mil deposit
SINGAPORE (Mar 20): Oxley Gem, a subsidiary of Oxley Holdings, has terminated the letter of intent (LOI) it received from Gracious Land in Jan for the $950 million purchase of its Mercure and Novotel hotels, after not receiving a subsequent deposit of $38 million when it was due. In a late night filing on Tuesday, the group says Gracious Land has requested for a refund of the initial $9.5 ...
Oxley accepts expression of interest for $1.03 bil sale of Chevron House
SINGAPORE (Mar 14): Mainboard-listed property group Oxley Holdings could be selling Chevron House in Singapore’s central business district for $1.025 billion – just 15 months after acquiring the property for $660 million in December 2017. In a filing to SGX on Thursday, Oxley says its wholly-owned subsidiary, Oxley Beryl, has accepted an expression of interest from a US-based real estate ...
Oxley posts 33% drop in 2Q earnings to $45.2 mil
SINGAPORE (Feb 11): Oxley Holdings has reported a 33% decline in earnings to $45.2 million for the 2Q19 ended December, from $68.0 million a year ago. 2Q19 revenue fell 12% to $355.5 million, from $406.1 million a year ago, mainly due to lower revenue contribution from the project in the UK. Gross profit fell 33% to $46.4 million in 2Q19, as gross profit margin fell 4 percentage points due ...
Oxley divests part of Dublin property for $271 mil
SINGAPORE (Jan 28): Oxley Holdings announced that its wholly-owned subsidiary, Oxley Docklands Quay Three, along with National Asset North Quays DAC have entered into a letter agreement with Greystar Europe Holdings for the sale of the long leasehold interest in part of Blocks B and E, Dublin Landings, North Wall Quay, Dublin 1, Ireland for 175.5 million euros ($270.8 million). Greystar has ...
Oxley to get much-needed hongbao if hotel sale deal is on
SINGAPORE (Jan 14): Property group Oxley could potentially reduce net debt-to-equity to 1.8 times from 2.5 times as at Sept 2018 if sale of its Mercure and Novotel hotels on Stevens Road is completed. That's because that the cash proceeds will be able to alleviate some of the group’s urgent cash requirements, says DBS Group Research, especially in repaying its retail bonds – $300 ...
Oxley accepts LOI from buyer of Mercure and Novotel hotels on Stevens Road
SINGAPORE (Jan 10): Oxley announced that its wholly-owned subsidiary, Oxley Gem, has accepted a letter of intent (LOI) today for the purchase of Mercure and Novotel hotels located at 28 and 30 Stevens Road for a total consideration of $950 million. The LOI is intended to be non-binding and is subject to the parties entering into a definitive sale and purchase agreement. Under the terms of ...
Property launches continue unabated despite new curbs
SINGAPORE (Oct 23): Despite the new property development policies, City Developments and Oxley debuted their latest properties, Whistler Grand and Kent Ridge Hill Residences respectively, last weekend. The two projects are targeted to launch officially on Nov 3. As at 1.20pm, shares in City Developments are trading at $8.15, while shares in Oxley are trading at 30 cents. In a DBS report on ...