| Latest Forum Topics / Oxley Last:0.08 -- |
 Post Reply
|
|
Is Oxley a good buy at current price?
|
|||||
|
like2learn
Veteran |
19-Apr-2019 22:03
|
||||
|
x 0
x 0 Alert Admin |
Thanks for the tip and info, just kapoh, do u work in a British bank ?  Other than his " excessive" salary, Ching has the foresight and doing the right thing(e.g. deleveraging), but the most impt question is still whether the price for entry is right ... i concur ard 0.28 is a good bet.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
19-Apr-2019 21:54
|
||||
|
x 0
x 0 Alert Admin |
Wanted to share some anecdotal info - seems like there is a lot of interest in Dublin currently. One of my colleagues is choosing to move there to work, instead of London, which he could - as he sees greater future in Dublin, due to relocation of FIs from London. Also, another colleague shared that Dublin property is currently really very hot and in limited supply, and they are looking to buy there soon. Why am I sharing this? - Well, honestly, Ching was really smart to see the potential of Dublin before any one else - and he is going to launch more projects there. So, we are looking at a really smart man, with some super property sense. Like how he bought Chevron House, before the Govt announced plans to build up the CBD and bring more residents. And started landbanking cheaper than anyone else in Singapore recently. So - place your bets gentlemen... |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
pasttime
Supreme |
19-Apr-2019 08:19
Yells: "gold silver are real money. not others iou." |
||||
|
x 0
x 0 Alert Admin |
if the sale do not go thru is better for oxley as situations has changed. 1. FEB has changed from reducing money supply and increasing interest rate to reducing by half the rate and stop reducing in a few months time. High probability of no interest rate increased and even talk about interest rate decreased. 2. They has sold more properties. 3. plot ratio of Chevron has increased to 15. Chevron house sits between Singaporeland Tower and Clifford centre. To the W familiy it is like monopoly owning one whole stretch of land. so can build hotel if these can work together. |
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
18-Apr-2019 23:27
|
||||
|
x 0
x 0 Alert Admin |
Sorry - someone posted 12.6 move up to 15, so increase by 20 percent.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
18-Apr-2019 23:22
|
||||
|
x 0
x 0 Alert Admin |
Can someone remind how much higher the plot ratio for Chevron House was recently increased by? Recall it was 30percent? If so, better the sale falls through. Can get better price now. | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
FreedomInvestor
Member |
18-Apr-2019 22:57
|
||||
|
x 0
x 0 Alert Admin |
The exclusive dealing period for the Chevron House EOI will be ending next Sunday. May have some update announcement and can expect some volatility in oxley shares in the coming week. | ||||
| Useful To Me Not Useful To Me | |||||
|
Dreamer_1234
Senior |
18-Apr-2019 14:12
|
||||
|
x 0
x 0 Alert Admin |
What happened to Oxley? Keep dropping | ||||
| Useful To Me Not Useful To Me | |||||
|
mikewb21
Senior |
15-Apr-2019 12:57
|
||||
|
x 0
x 0 Alert Admin |
Here' s OX March Sales: Affinity - 50 Riverfront - 55 The Addition - 2 1953 - 18 KentRidge - 14 Mayfair - 13 Total sold in March: 152 Cheers |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
alexchew
Master |
28-Mar-2019 13:46
|
||||
|
x 0
x 0 Alert Admin |
all the winners will be the reits... owns massive buildings in CBDs... wow... re-rating will come!
|
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
28-Mar-2019 13:15
|
||||
|
x 0
x 0 Alert Admin |
Then let us hope the deal falls through - but I Guess OX benefits either way. The rise in plot ratio makes it more convincing for the buyer to proceed. And OX walks away with 300 hundreds million profits and reduces debts.
Must credit Ching for his foresight. Very rare in our market.
|
||||
| Useful To Me Not Useful To Me | |||||
|
pasttime
Supreme |
28-Mar-2019 11:34
Yells: "gold silver are real money. not others iou." |
||||
|
x 0
x 0 Alert Admin |
in URA draft master plan 2019. Chevron House plot ratio is has gone from 12.6+ to 15. wasted win fall for Oxley. the potential buyer happy and laughing to bank. |
||||
| Useful To Me Not Useful To Me | |||||
|
runaway
Senior |
24-Mar-2019 13:54
|
||||
|
x 0
x 0 Alert Admin |
One sells property, the other Sushi. What is the relevance？ |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Jamesbond008
Member |
24-Mar-2019 12:51
|
||||
|
x 0
x 0 Alert Admin |
https://www.asiaone.com/print/News/AsiaOne%2BNews/Business/Story/A1Story20130308-407332.html Sakae, MD sue Financial PR for alleged defamation In a 39-page lawsuit filed in High Court on Thursday, Sakae and its managing director Douglas Foo Peow Yong are seeking damages for libel. -BT Grace Leong Sun, Mar 10, 2013, The Business Times SAKAE Holdings Ltd and its managing director have brought a defamation suit against Financial PR Pte Ltd for refusing to retract a press statement it had issued on behalf of Andy Ong Siew Kwee, a Sakae non-executive director. In a 39-page lawsuit filed in High Court on Thursday, Sakae and its managing director Douglas Foo Peow Yong are seeking damages for libel. They also want an injunction to stop the investor-relations firm from publishing the statement it had issued to the press on Feb 19. Sakae, in an announcement to the Singapore Exchange last night, said the statement " made certain imputations and allegations which the plaintiffs considered defamatory" . Sakae said it began legal proceedings after the investor-relations firm failed to comply with a letter of demand issued on Feb 22 by Sakae through its lawyers, demanding " a full and unqualified apology for, and withdrawal of the imputations and allegations in the press statement" within seven days. A Financial PR representative told The Business Times yesterday that its lawyers at Rajah & Tann LLP responded to Sakae' s letter of demand this week. Gabriel Tan, Financial PR' s associate director, said: " We are not retracting the press statement. " In our response, it is stated very clearly that the statement is issued for and on behalf of Andy Ong. " We acted in the highest professional standards by verifying that what was in the press statement was substantiated in Andy Ong' s affidavit, and the statement was cleared by both Andy Ong and lawyers at Rajah & Tann." Mr Ong was asked by Sakae' s board to resign after he was found responsible for financial irregularities in an associate firm Griffin Real Estate Investment Holdings, and of misappropriating at least $34 million. He denied these allegations and others made by the company and Mr Foo in the statement issued through Financial PR. Sakae said Mr Ong' s statement was defamatory because it implied that Mr Foo had breached his statutory duties as a director of Sakae and Griffin by failing to act honestly and in good faith the statement also implied that Mr Foo had abused his powers and allowed his personal interests to conflict with his duties to the companies. Sakae said the statement also implied that Mr Foo and its board were incompetent as company directors and that they had managed the company' s affairs in a way that justified a public statement of Mr Ong' s disappointment and " sign of protest" . Mr Foo said the allegations in the statement were " patently false and baseless" and were allegedly made without Financial PR " taking any steps or care (reasonable or otherwise) with respect to the authoring, editing, advising on and/or publication of the press statement despite the acrimonious relations between Mr Ong and the plaintiffs" . The statement was " calculated to disparage Mr Foo in his office, profession, calling, trade and/or business" , and that " his reputation, both personal and professional, has been seriously injured and he has suffered embarrassment as a direct result of the said publication" , Sakae said. The suit also said Sakae' s " trading reputation, commercial integrity and goodwill have been injured" . Sakae, which owns the Sakae Sushi chain, has about 100 food and beverage outlets here and in the region. |
||||
| Useful To Me Not Useful To Me | |||||
|
runaway
Senior |
24-Mar-2019 12:48
|
||||
|
x 0
x 0 Alert Admin |
When you are out of bullets to defend Oxley, you aim your empty gun at Starhub. Good try! I suggest you post your views in the appropriate thread so that we can stay focused on the discussion. Thank you. |
||||
| Useful To Me Not Useful To Me | |||||
|
Stocky901
Supreme |
23-Mar-2019 17:46
|
||||
|
x 0
x 0 Alert Admin |
You would rather put your monies in starHub?
|
||||
| Useful To Me Not Useful To Me | |||||
|
Starship
Supreme |
23-Mar-2019 10:31
|
||||
|
x 0
x 0 Alert Admin |
Terminated hotel deal a setback for Oxley' s deleveraging plans THU, MAR 21, 2019 - 5:50 AM Singapore AGGRESSIVELY geared Oxley Holdings will find it harder to keep to its stated deleveraging schedule after a planned S$950 million sale of two Stevens Road hotels fell through. The property developer' s shares slid 3 per cent, or one cent, to close at S$0.32 on Wednesday, reversing in one fell swoop the gains that the stock had achieved from last week' s news of a separate deal that US real estate fund AEW had made an expression of interest (EOI) to acquire Oxley' s Chevron House for S$1.025 billion. Oxley announced late on Tuesday that it had " with immediate effect" terminated a letter of intent (LOI) signed in January to sell its Mercure and Novotel Hotels to privately held Gracious Land. BT understands that Gracious Land is owned by Indonesian tycoon Tahir, who goes by one name, and is the founder of Mayapada Group. Mayapada is a conglomerate with interests in banking, a hospital chain and real estate. Oxley said that among other things, Gracious Land had failed to meet a Feb 28 deadline to pay a deposit of S$38 million, being 4 per cent of the total consideration. Oxley said it therefore notified Gracious Land of the termination of the LOI. The buyer has also requested a refund of an initial S$9.5 million deposit it had paid to Oxley. The Singapore property group, however, has said it does not have to repay that amount, setting up both sides for a possible dispute. Why Gracious Land did not keep to the payment schedule is anyone' s guess. Asked to explain why the deal fell through, a spokesman representing Oxley said the group cannot reveal details owing to a non-disclosure agreement. It has however said it will continue to explore opportunities and will inform shareholders of any updates in due course. As for Chevron House, the buyer is currently doing its due diligence. AEW has been granted an exclusive dealing period of 45 days starting from the day after the acceptance of the EOI this may be extended for a further seven days at the buyer' s request. An industry source told The Business Times that several property agencies have approached Oxley to help to sell the two hotels, and that the company is in the middle of considering this. The collapsed deal is a setback for Oxley' s plans to strengthen its balance sheet. The company said in February that its gearing will improve from 2.55 times as at end-December 2018 to about two times upon the completion of sale of the two hotels. Most developers try to keep to a gearing limit of one at most. Oxley was hoping to bring its debt level down to equal its equity value by the end of the year, executive chairman and chief executive Ching Chiat Kwong told BT in an interview published earlier this month. In an interview published in BT earlier this month, Mr Ching had said Oxley ultimately aims to reduce its gearing to 1 time debt-to-equity by the end of the year. The company has said it plans to pay off S$1.6 billion of debt due in the next three years through the sale of completed projects and through asset disposals. Oxley' s spokesman said the company will continue with its deleveraging plan by disposing of assets when the opportunity arises. DBS Group Research analyst Rachel Tan cautioned against being too optimistic about deals that have not been sealed. The LOI for the two hotels and the EOI for Chevron House are all non-binding, and there was no certainty from the start that the sales would be completed, she said. " If this deal (the hotel sale) had gone through, it would help to alleviate some of the cash needs that Oxley has... If both assets were sold, it would be even better. If both don' t get sold, it would be back to square one, and the group' s debt repayment risks would still remain," she said. The most pressing debt issue for Oxley at the moment comes from its S$450 million of retail bonds maturing in November 2019 and May 2020, she said. Having said that, " the company has said it is ensuring that it can pay off the retail bonds that are expiring, and also has some cash coming back from its overseas projects in the United Kingdom and Dublin," Ms Tan added. At the very least, the company appears to be trying to relieve the pressure on its balance sheet. " Their gearing is high, so there is always this risk, but they are doing something about it, evident from their efforts to get buyers to acquire their assets to ensure that they can pay back their debt," Ms Tan said. https://www.businesstimes.com.sg/companies-markets/terminated-hotel-deal-a-setback-for-oxleys-deleveraging-plans |
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
22-Mar-2019 20:37
|
||||
|
x 0
x 0 Alert Admin |
Give Ox a break lah - enjoy the weekend!!!
|
||||
| Useful To Me Not Useful To Me | |||||
|
runaway
Senior |
22-Mar-2019 19:27
|
||||
|
x 0
x 0 Alert Admin |
Another round of hope? Oxley appoints agents for sale of Mercier, Novotel Hotels. If there is any interested party, the offer will definitely be lower than the the last aborted sale Is this latest move in anticipation of EOI failing? |
||||
| Useful To Me Not Useful To Me | |||||
|
runaway
Senior |
21-Mar-2019 22:34
|
||||
|
x 0
x 0 Alert Admin |
All eyes are now now on the EOI for Chevron House . If it is another miscarriage, market will be doubtful of any future LOI and EOI. |
||||
| Useful To Me Not Useful To Me | |||||
|
Goldfinger
Supreme |
21-Mar-2019 08:13
|
||||
|
x 0
x 0 Alert Admin |
Let them eat cake :-)
|
||||
| Useful To Me Not Useful To Me | |||||