The Board of Directors of Oxley Holdings Limited (the “Company”) wishes to inform that the
Company is currently exploring options to raise funds for its working capital and is in preliminary
discussions with potential investors.
The Company shall make a further announcement when there is any significant development.
After Hiap Hoe, Oxley Holdings is another property developer most investors have not heard of but which will reap solid gains in due course. The time has in fact arrived. Oxley was 34 cents on March 22 just before its current rally. It was 42 cents yesterday. Today, Oxley will win more recognition from the market
Yesterday's DMG report didnt give a target price for Oxley but noted that its Oxley Tower, the just launched project in CBD, stands to make a hefty profit with gross development value estimated at $500m and breakeven at an estimated $300m.
Young man in a hurry: Oxley bought another property!
Boutique property developer Oxley Holdings has acquired McDonald's Place for S$150 million.
In a statement released on Tuesday, Oxley said its subsidiary Oxley Sanctuary had purchased all seven strata commercial units in the freehold development located at King Albert Park from Valewood Investments Pte Ltd.
The freehold two-storey commercial building is sited on a land area of 5,535 square metres that is zoned for commercial and residential use with a plot ratio of 3.
The developer said it intends to set up a joint venture with Unique Rezi and Luxe Development to redevelop the property, subject to obtaining all the necessary approvals from the relevant authorities.
Oxley will hold a 55 per cent share in the proposed joint venture, Luxe Development - a wholly owned subsidiary of Lian Beng Group - will own 15 per cent, with the balance 30 per cent share held by Unique Rezi.
The acquisition is not expected to have a material impact on the earnings per share or net tangible assets per share of Oxley for the current financial year ending June 30, 2012.
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