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Is Oxley a good buy at current price? Post Reply Rate topic
Goldfinger Supreme	10-May-2019 08:13        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Patiently waiting for 28 cents again.  Missed that the last round. Hope it happens soon.
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AttasBoss Elite	10-May-2019 08:08        AttasBoss About Contact  Quote this Post!
x 0   x 0  Alert Admin	Another too good to believe sweet deal
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pasttime Supreme	05-May-2019 08:21        pasttime About Contact  Quote this Post!   Yells: "gold silver are real money. not others iou."
x 0   x 0  Alert Admin	thnk if he gives more commision to agency to sell affinity and riverfront, more units can be moved. it is healthy now. at a few tens of units per month. is good for everyone. more tax for the governent, no run away price, good for buyers, shareholders can see reducing risk of cash crunch.
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Goldfinger Supreme	04-May-2019 16:17        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Frankly, I think they are coming out of the woods. The sale of Chevron and the running down of unsold units at Affinity and Riverfront will be rather significant in reducing their debt levels.  I think Ching is reluctant to sell, but he knows that selling the Stevens Hotels will change the PERCEIVED risk profile of the company.  He knows he has the upper hand now. With the profits from Chevron, he can now do big swanky adverts in the papers, like in today ST. ​ If the Chevron deal fell through, that would have a big hit to sentiment. ​ I also think most developers are upset at Chenghu.  They may not support them in the land sale activities in future.  Sinkies will then have to be content with buying resale condos at higher prices.   runaway      ( Date: 04-May-2019 16:06) Posted: Rich land banks, many completed units but unsold, and many more new units are being bult... Heavily in debt, and money owed via bond issues are due for redemption this year more to fall due, it it is a judgment mistake, brought down by the aggressive acquisitions and developments. Immediate problem is to avoid default on maturing bonds this year. Given Hyfluxs lesson, it cant issue new bonds to redeem maturing bonds. Nobody would buy.
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runaway Senior	04-May-2019 16:06        runaway About Contact  Quote this Post!
x 0   x 0  Alert Admin	Rich land banks, many completed units but unsold, and many more new units are being bult... Heavily in debt, and money owed via bond issues are due for redemption this year more to fall due, it it is a judgment mistake, brought down by the aggressive acquisitions and developments. Immediate problem is to avoid default on maturing bonds this year. Given Hyfluxs lesson, it cant issue new bonds to redeem maturing bonds. Nobody would buy.
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mikewb21 Senior	04-May-2019 14:59        mikewb21 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Should be Mid May pc1234      ( Date: 03-May-2019 13:04) Posted: Does anyone know when will 3Q result be out?
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pc1234 Member	03-May-2019 13:04        pc1234 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Does anyone know when will 3Q result be out?
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pasttime Supreme	03-May-2019 07:59        pasttime About Contact  Quote this Post!   Yells: "gold silver are real money. not others iou."
x 0   x 0  Alert Admin	with interest rate increasing ended and prospectus of interest decreased, will it be easy easy for business to issue loan to repay loan? like a smaller loan + cash to reduce the expiring loan. banks hungry to grow with lower risk?
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FreedomInvestor Member	02-May-2019 21:39        FreedomInvestor About Contact  Quote this Post!
x 0   x 0  Alert Admin	Our local papers are really a big joke...look at how they have turned around and " updated" this news article and singing praises of the deal now... https://www.businesstimes.com.sg/real-estate/buyer-the-bigger-beneficiary-in-oxleys-s103b-sale-of-chevron-house-dbs-analysts   In response to the analysts&rsquo comments, an external spokesman for Oxley said it would not be fair to compare this sale to that of a completed building, seeing as Chevron House still has ongoing alterations, additions and asset enhancement works. " Also, the building was sold with no tenancy agreements, so it will be up to the buyer to source for tenants," the spokesman told  The Business Times  (BT) on Thursday evening. " Many developers in the market are saying that Oxley got a great deal by selling a building just based on drawings," he added. Under the sale-and-purchase agreement, after Oxley receives an initial S$210 million, it is to complete the works and also divest the retail and banking units before the buyer will pay the balance of the consideration and discharge the bank loans. An industry source who declined to be named said: " Oxley managed to sell the building for a handsome profit of more than S$200 million to shareholders in such a short time, despite the incomplete construction and zero tenancy agreement. " This could potentially go down as the deal of the year."
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mikewb21 Senior	02-May-2019 16:43        mikewb21 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sell get bad review, dont sell also get bad review... Clearly Ox is not a darling of analysts. Lets see how it goes... Starship      ( Date: 02-May-2019 13:55) Posted: ' Buyer the bigger beneficiary' in Oxley' s S$1.03b sale of Chevron House: DBS analysts THU, MAY 02, 2019 - 12:02 PM ANALYSTS at DBS Group Research are of the view that the " buyer is the bigger beneficiary" in Oxley' s deal to sell Chevron House for some S$1.025 billion. This comes just 16 months after the debt-laden property developer acquired the prime office building in Raffles Place for S$660 million in December 2017. Oxley has agreed to sell the 32-storey office tower to Golden Compass, which is wholly owned by US-based real estate fund, AEW. " Based on the available information and our ballpark estimates, we believe the buyer is the bigger beneficiary of this transaction by acquiring the office component of Chevron House at below 4 per cent cap rates, with reversionary potential close to 5 per cent cap rates. " This has yet to factor in any potential plot ratio upside from the government schemes to incentivise the redevelopment of the central business district," DBS analysts Rachel Tan and Derek Tan highlighted in a research note on Thursday morning. However, the analysts noted that while Chevron House has been sold, a few conditions are attached to the sale. Among other things, Oxley will receive an initial S$210 million, with the remaining transaction to be settled after the completion of asset enhancement works, and the divestment of the retail and banking units, which fall under Oxley' s responsibilities, the analysts said. They also noted that the initial cash proceeds of S$210 million will facilitate Oxley' s repayment of its first tranche of retail bonds of S$300 million expiring on Nov 5, though certain deal terms have not been revealed. " The devil is in the details, but the terms attached between Oxley and the buyer with regard to the divestment of the retail and banking units, and any other terms and conditions are not made known. If we assume that the first tranche of payment is potentially the maximum gain or cash proceeds to be received by Oxley for the sale of Chevron House, we believe the cash received will alleviate some of Oxley&rsquo s urgent cash requirements, though not completely. " There will be further deleveraging when the buyer assumes Chevron House&rsquo s bank loans upon completion of the transaction when conditions are met," the analysts added. BT understands that the initial payment of S$210 million is the maximum cash proceeds that Oxley will receive under this deal. According to the analysts, Oxley has two tranches of retail bonds expiring: S$300 million due on Nov 5, 2019, and S$150 million due on May 18, 2020. Aside from the retail bonds, Oxley also has S$238 million of corporate borrowings expiring in fiscal 2020/2021, and S$631 million of euro medium-term notes expiring in fiscal 2021/2022. https://www.businesstimes.com.sg/real-estate/buyer-the-bigger-beneficiary-in-oxleys-s103b-sale-of-chevron-house-dbs-analysts
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Starship Supreme	02-May-2019 13:55        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	' Buyer the bigger beneficiary' in Oxley' s S$1.03b sale of Chevron House: DBS analysts THU, MAY 02, 2019 - 12:02 PM ANALYSTS at DBS Group Research are of the view that the " buyer is the bigger beneficiary" in Oxley' s deal to sell Chevron House for some S$1.025 billion. This comes just 16 months after the debt-laden property developer acquired the prime office building in Raffles Place for S$660 million in December 2017. Oxley has agreed to sell the 32-storey office tower to Golden Compass, which is wholly owned by US-based real estate fund, AEW. " Based on the available information and our ballpark estimates, we believe the buyer is the bigger beneficiary of this transaction by acquiring the office component of Chevron House at below 4 per cent cap rates, with reversionary potential close to 5 per cent cap rates. " This has yet to factor in any potential plot ratio upside from the government schemes to incentivise the redevelopment of the central business district," DBS analysts Rachel Tan and Derek Tan highlighted in a research note on Thursday morning. However, the analysts noted that while Chevron House has been sold, a few conditions are attached to the sale. Among other things, Oxley will receive an initial S$210 million, with the remaining transaction to be settled after the completion of asset enhancement works, and the divestment of the retail and banking units, which fall under Oxley' s responsibilities, the analysts said. They also noted that the initial cash proceeds of S$210 million will facilitate Oxley' s repayment of its first tranche of retail bonds of S$300 million expiring on Nov 5, though certain deal terms have not been revealed. " The devil is in the details, but the terms attached between Oxley and the buyer with regard to the divestment of the retail and banking units, and any other terms and conditions are not made known. If we assume that the first tranche of payment is potentially the maximum gain or cash proceeds to be received by Oxley for the sale of Chevron House, we believe the cash received will alleviate some of Oxley&rsquo s urgent cash requirements, though not completely. " There will be further deleveraging when the buyer assumes Chevron House&rsquo s bank loans upon completion of the transaction when conditions are met," the analysts added. BT understands that the initial payment of S$210 million is the maximum cash proceeds that Oxley will receive under this deal. According to the analysts, Oxley has two tranches of retail bonds expiring: S$300 million due on Nov 5, 2019, and S$150 million due on May 18, 2020. Aside from the retail bonds, Oxley also has S$238 million of corporate borrowings expiring in fiscal 2020/2021, and S$631 million of euro medium-term notes expiring in fiscal 2021/2022. https://www.businesstimes.com.sg/real-estate/buyer-the-bigger-beneficiary-in-oxleys-s103b-sale-of-chevron-house-dbs-analysts
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Qanghoo Supreme	02-May-2019 12:17        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Cos fat Ching' s a great fighter !!!! Dreamer_1234      ( Date: 02-May-2019 12:16) Posted: Why is this thread always ?fighting??
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Dreamer_1234 Senior	02-May-2019 12:16        Dreamer_1234 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why is this thread always ?fighting??
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Goldfinger Supreme	01-May-2019 22:05        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	No wish to put others down, as I am sure you have your own difficulties and stresses, as most middle class folk in SG.  Live in peace and may you prosper too. JoleenChan      ( Date: 01-May-2019 21:52) Posted: --- Post Removed by User ---
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Goldfinger Supreme	01-May-2019 21:49        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is because I detest those who talk down stock to profit from short positions, at the expense of the fearful and gullible.  If I think a stock is really rubbish, I would say so. Does this make sense to you? JoleenChan      ( Date: 01-May-2019 21:35) Posted: --- Post Removed by User ---
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Goldfinger Supreme	01-May-2019 21:25        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	You must clearly be severely short. Or want to buy dirt cheap. Or have an axe to grind.  Please be transparent, but it is apparent to me.  Else, no reason why you spend so much chat time on this forum page.  Many of us are long holders for long term and clearly disclose. JoleenChan      ( Date: 01-May-2019 20:24) Posted: --- Post Removed by User ---
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Goldfinger Supreme	01-May-2019 20:15        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Or they can mount a massive share buyback. With Chevron, the sale will release a huge lot of cash and can redeem their outstanding bonds with this sale. The tide has turned very swiftly in Ox favour. Let us wait for analyst reports to attest. Goldfinger      ( Date: 01-May-2019 20:05) Posted: Seems to be like a 7 cent profit per share. Enough to pay a nice small special dividend to reward suffering minorities and pad Ching and Low own retirement fund. pc1234      ( Date: 01-May-2019 19:55) Posted: The book value of Chevron House is $787mil on 2018 Annual Report. So the NAV will be increased by 5 cents (based on 200mil of gain over 4.042 bil share)
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Goldfinger Supreme	01-May-2019 20:05        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems to be like a 7 cent profit per share. Enough to pay a nice small special dividend to reward suffering minorities and pad Ching and Low own retirement fund. pc1234      ( Date: 01-May-2019 19:55) Posted: The book value of Chevron House is $787mil on 2018 Annual Report. So the NAV will be increased by 5 cents (based on 200mil of gain over 4.042 bil share). FreedomInvestor      ( Date: 01-May-2019 18:06) Posted: Divestment of CH is a very significant development for oxley. Not only does it reduce oxley's gearing, but the divestment gain will also boost oxley's NAV. With the impending sale of novotel and mecure, gearing should come down further to what Ching guided. Near term, share price may overact to this positive news and correct to a more rationale level. But I doubt it will be going back to below 30 cents.
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pc1234 Member	01-May-2019 19:55        pc1234 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The book value of Chevron House is $787mil on 2018 Annual Report. So the NAV will be increased by 5 cents (based on 200mil of gain over 4.042 bil share). FreedomInvestor      ( Date: 01-May-2019 18:06) Posted: Divestment of CH is a very significant development for oxley. Not only does it reduce oxley's gearing, but the divestment gain will also boost oxley's NAV. With the impending sale of novotel and mecure, gearing should come down further to what Ching guided. Near term, share price may overact to this positive news and correct to a more rationale level. But I doubt it will be going back to below 30 cents.
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Goldfinger Supreme	01-May-2019 18:18        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Would not be surprised if they paid a surprise special dividend to shock the shortlists. Ching is a rebel against convention. FreedomInvestor      ( Date: 01-May-2019 18:06) Posted: Divestment of CH is a very significant development for oxley. Not only does it reduce oxley's gearing, but the divestment gain will also boost oxley's NAV. With the impending sale of novotel and mecure, gearing should come down further to what Ching guided. Near term, share price may overact to this positive news and correct to a more rationale level. But I doubt it will be going back to below 30 cents.
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