Oxley Holdings

Analysts favour this diversified property player amid the lukewarm real estate market

SINGAPORE (Dec 24): Analysts are remaining cautious on the Singapore property and real estate sector, as the city state’s property cooling measures keep the market lukewarm.

Both DBS Group Research and RHB Group Research are keeping their “neutral” ratings on the sector, as property prices remain relatively stagnant, despite resilient sales volumes.

“While developers have been calling for some relaxation in property cooling measures, we believe it is unlikely in the near term as prices remain on an uptrend,” says RHB analyst Vijay Natarajan in a Dec 19 report.

Local developer heads for global ranks, more deals in store for sector

SINGAPORE (Dec 20): The local property market — which was subjected to cooling measures and experienced oversupply in the past decade — may be small, but in the 2020s, a home-grown developer will rank among global real estate companies such as Brookfield Asset Management, Unibail-Rodamco-Westfield (a merger formed with the former Westfield Corp) and Lendlease Group.

Oxley kept at 'buy' on improved cash flow, potential special dividends: RHB

SINGAPORE (Dec 18): RHB Group Research is reiterating its “buy” recommendation on Oxley Holdings, after the property developer on Dec 16 announced it is divesting its leasehold interest of 297 years in No. 3 Dublin Landings for 115.0 million euros ($173.7 million).

The brokerage is also maintaining its target price of 43 cents, implying a potential upside of 21% and close to 9% yield.

Oxley is entitled to receive 77.8% of the sale price of the property. In a regulatory filing, the group says the proceeds from the sale will contribute positively to its cash flow.

Oxley divests Dublin property for $174 mil; embarks on new development at Connolly Station

SINGAPORE (Dec 16): Property developer Oxley Holdings announced Monday that its wholly-owned subsidiary, Oxley Docklands Quay Two, has entered into a memorandum of agreement for the sale of the leasehold interest of 297 years in No. 3 Dublin Landings for 115.0 million euros ($173.7 million).

Oxley is entitled to receive 77.8% of the sale price, with National Asset North Quays DAC receiving the balance.

In a regulatory filing on Monday, Oxley says the proceeds from the sale will contribute positively to the cashflow of the group.

Oxley gives up in UE tussle with Yanlord

SINGAPORE (Nov 25): Oxley Holdings has thrown in the towel in its bid for a stronger say in United Engineers, ceding ground to Yanlord Land Group, which has gained tighter control as a result.

When Oxley began buying up shares in UE just as Yanlord and its concerted parties assumed control, the market was stirred by the prospect of a bidding war. That was not to be, as the Yanlord-controlled board rebuffed calls to give Oxley board representation and held steadfastly to its stake.


Oxley reverses out of the red with 1Q earnings of $12.2 mil on surge in other gains

SINGAPORE (Nov 12): Property developer Oxley Holdings reversed out of the red with earnings of $12.2 million in 1Q20 ended September, compared to losses of $0.7 million a year ago.

This translates to earnings per share of 0.29 cents for 1Q20, compared to a loss per share of 0.02 cents in 1Q19.

Yanlord's offer for UE is not priced to attract acceptances — but what if it does?

SINGAPORE (Nov 4): On Oct 25, Yanlord Land Group announced that it had acquired the 51% in Yanlord-Perennial Investment (Singapore) that it did not own and renamed the company Yanlord Investment (Singapore). Of this 51%, 45% belonged to Perennial Real ­Estate Holdings, and 6% to Heng Yue Holdings. In the process, Yanlord took over the stakes of United Engineers owned by PREH and Heng Yue, raising Yanlord’s stakes in UE and WBL Corp to 35.27% and 29.9% respectively. (WBL is owned by UE.)


Will FY20 be a 'record year' for Oxley?

SINGAPORE (Sept 24): Oxley Holdings might have seen its full year earnings nearly halved year-on-year to $146.3 million for FY19. But some market watchers believe the property group is poised for a stellar year ahead.

“FY20 should be a record year, with profits from the Chevron House sale, Dublin landing and Cambodia coming in,” says RHB Group Research lead analyst Jarick Seet in a Tuesday report.

In addition, the analyst notes that Oxley has hinted that it may pay a special dividend for its 10-year anniversary.

Yanlord clinches top spot; Oxley leads in ROE, Bukit Sembawang in shareholder returns

SINGAPORE (Sept 16): The property sector, together with finance, logistics and manufacturing, is the pillar of any modern economy. Scale is critical to success, and those with the financial muscle can steadily lever up to become even bigger.

Thirteen companies qualified for the property sector of the Billion Dollar Club, each with a market value above the billion-dollar treshold. The only industry sector with a higher number of qualifying companies was real estate investment trusts — with a total of 24 qualifying companies.


British currency takes a pounding as Queen approves Parliament suspension plan

SINGAPORE (Sept 2): The British pound dropped over 1% as newly minted Prime Minister Boris Johnson gained approval from Queen Elizabeth II to suspend Parliament, a move many say will devastate any attempts by members of Parliament to stop a no-deal Brexit. The FTSE 100 Index dropped as well.


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