Oxley Holdings

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15 Jul 2014 16:19 #20378 by sumer
Replied by sumer on topic Oxley Holdings
Oxley yesterday announced it terminated an MOU for a Malaysian land deal, the second such cancellation for its Malaysian MOUs.

This land is of 99 year tenure, same as the previous one cancelled. I am not too worried as Oxley probably had too many Malaysian projects in hand prior to this cancellation.

My eyes will be more on the iconic project near to KLCC.

The major shareholders together hold 83% of Oxley shares, so they are likely to take care of their baby well.

Nevertheless, Oxley is not a RNAV play but remain a "concept" stock for me.

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15 Jul 2014 21:06 #20383 by Chacha
Replied by Chacha on topic Oxley Holdings
What is concept stock?
I have a number of oxley stocks.
Good that they cancelled the 99 leasehold in Malaysia.
Their Royal Wharf in London is well received and will be generating good profit.
But price down due to cancellation and maybe possible split.
Wonder if I should sell some n buy back later?

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15 Jul 2014 21:21 - 15 Jul 2014 21:23 #20384 by sumer
Replied by sumer on topic Oxley Holdings
Hi Chacha,

"Concept", to me, means an "idea". So if I buy based on a concept or idea (or more than one idea), then its not based so much on fundamentals (like RNAV or PE or earnings growth, etc) as much as an interesting angle(s).

In the case of Oxley, I liked it for Ching's sharpness in going big on Mickey Mouse apartments and industrial units (with facilities), and then noticing that that game was ending in Singapore, he moved aggressively overseas, especially his prize buy in London.

In addition, Ching had given out a generous dividend recently, and is proposing a stock split and perhaps a listing of Oxley's overseas business.

Also, he and his partners own about 83% of Oxley shares.

Hence, to me, "Ching" is the "concept" I am riding on in my purchase of Oxley shares.

Apart from Oxley (and a few short term trading stocks), my basket of shares are mostly developers with big discounts to RNAV, some of which have good earnings and earnings growth, generous dividend payouts, etc to boot. Eg are CES and Hiap Hoe for example. These RNAV stocks remain my core holdings for now as they are not anywhere near overvaluation.
Last edit: 15 Jul 2014 21:23 by sumer.

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10 Oct 2014 19:03 #20998 by mervynsim
Replied by mervynsim on topic Oxley Holdings
According to Oxley's 2014 annual report, Ching's remuneration this year is above $18.5m! This will likely make him Singapore's highest paid CEO this year!

Meanwhile, a look at the top 20 shareholder list as of 19 Sep 2014 versus 11 Sep 2013 shows that Koh Wee Meng has dropped out of the list. His wife, Lim Wan Looi, has reduced her stake from 33m shares to 9.9m shares.

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10 Oct 2014 23:34 #21001 by sumer
Replied by sumer on topic Oxley Holdings
Yes, Mervyn, I am surprised by the high figure, which could make some retail investors uneasy.

I wrote in another thread (2nd liner prop counters) earlier about Oxley and had exited my remainder holding in the stock after the company cancelled its stock split proposal, which had been a hoped-for catalyst.

The bulk of Oxley’s RNAV is in unlaunched projects, and hence this prop stock is riskier than several other prop developer counters.

Meanwhile, poor sentiment seemed to be pervading the whole market and there is a risk all and sundry will be dragged down the slope. For prudence, I am keeping cash above 30% of total investment.

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27 Oct 2014 17:39 - 27 Oct 2014 17:50 #21118 by admin2
Replied by admin2 on topic Oxley Holdings
MervynSim wishes to share these pictures from the Oxley AGM this morning @ Raffles Country Club in Jalan Ahmad Ibrahim.






(Oxley chairman Ching Chiat Kwong with shareholder Mervyn Sim).
Last edit: 27 Oct 2014 17:50 by admin2.
The following user(s) said Thank You: Value Seeker

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