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Is Oxley a good buy at current price?
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Goldfinger
Supreme |
30-Apr-2019 21:46
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A piece of land outside Beijing zoned as SEZ likely larger than Singapore???
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Goldfinger
Supreme |
30-Apr-2019 21:39
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A lot a lot. All over the world. You should research before you blast.
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AttasBoss
Elite |
30-Apr-2019 20:51
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I still think it's too good to believe a huge cap gain within 2 years frame given the office market in cbd..
Ppl who bought a condo 2 years ago and currently might still not getting any profit And I believe it's a nightmare for the accountant who handle the chevron accounts, take over and hangover within short period, must be a mess Think capitaland already fully disposed their stakes in it? Not sure what happen then..
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SgYuan
Supreme |
30-Apr-2019 20:21
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main ew w0 280 w1 345 w2 290 w3?
w1 65 w2 55 dn 84.6% deep retracement w3 105 tgt 395 up 161.8% - w3 ext ew w3 ext ew w0 290 w1?325 w2? w1 35 - w1 may not end if end then w2 20 tgt 305 w3 55 tgt 360 w4 20 tgt 340 w5 35 tgt 375 - return to main ew |
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AttasBoss
Elite |
30-Apr-2019 20:05
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What if Oxley today sold at a loss of 300mil,the previous deka decision maker should celebrate that they sold at the peak?
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pc1234
Member |
30-Apr-2019 17:39
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https://www.businesstimes.com.sg/companies-markets/oxley-inks-deal-to-sell-chevron-house-for-s103b
Oxley inks deal to sell Chevron House for S$1.03b Strong buy upwards in the last one hour of trading today..... |
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Dreamer_1234
Senior |
30-Apr-2019 13:25
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Look positive n moving up strong. Jia you! | ||||
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moron101
Supreme |
30-Apr-2019 08:52
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Today gap up to 34c price when EOI announced. May be higher as the deal is confirmed.
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Goldfinger
Supreme |
30-Apr-2019 08:33
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Well well, the Bull OX Ching managed to pull off the sale of Chevron after all..... SPA signed yesterday apparently. Please refer SGX announcement. WOnder how the market will react. |
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AttasBoss
Elite |
29-Apr-2019 08:51
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There r many force sale private condo, the owners are so optimism about the leverage can help them build up wealth and meet the installments due.
Everyone can be confident to meet their obligation. |
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Belteshazzar
Master |
29-Apr-2019 08:47
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OXLEY HOLDINGS
Debt coming due: $300 million bonds due Nov 5, 2019 $150 million notes due May 18, 2020 $150 million debt due Jan 31, 2022. The Singapore developer has been cutting leverage but its debt load is still high. Oxley said last month that it has accepted an "expression of interest" from a US-based fund to buy a unit that owns Chevron House in Raffles Place for $1.025 billion. However, the expression of interest isn't legally binding and is subject to due diligence. Its efforts to sell assets have faced some difficulties. The firm terminated a letter of intent to sell its two hotels to Gracious Land for $950 million in March, prompting a slump in its share price. "We are confident to redeem the bonds come November 2019. Presently, the company has commenced its deleveraging exercise and we expect to demonstrate the positive results in the near term," an external spokesman for Oxley said. The firm had total debt of $3.9 billion and cash and cash equivalents of $248.5 million as of Dec 31, 2018, according to Bloomberg-compiled data. |
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FreedomInvestor
Member |
26-Apr-2019 17:56
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Strong buying towards the end of the day. Let' s see if any announcement on Chevron coming out. | ||||
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sunview
Veteran |
26-Apr-2019 15:06
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(Bloomberg) -- The collapse of Singapore&rsquo s water treatment firm Hyflux Ltd. has increased investor scrutiny over other debt-laden companies that have sold bonds in the local currency. More defaults could occur as earnings may worsen in a sputtering economy and riskier borrowers that creditors lent to amid low interest rates now struggle, according to S& P Global Ratings. Growth in Singapore&rsquo s export-reliant economy has been cooling in the past year and is projected to slow further. Borrowers excluding banks and other financial firms face S$5.1 billion ($3.7 billion) of Singapore dollar debt due the rest of this year, before that climbs to a record S$12 billion in 2020, according to Bloomberg-compiled data. While rates look set to stay low for now, smaller firms with high leverage could still struggle. &ldquo We see pockets of stress in the Singapore dollar bond market,&rdquo said Ezien Hoo, credit analyst at Oversea-Chinese Banking Corp. &ldquo Smaller companies with high debt loads in industries facing a downturn could face difficulty making repayment.&rdquo Firms that have a lot of short-term debt and are in sectors that are vulnerable to business cycles such as commodities and property development could face difficulties, according to Bertrand Jabouley, analyst at S& P Global Ratings. These are some smaller firms with bonds maturing before end next year that bear watching, according to analysts. CWT Pte Debt coming due: S$100 million bond due March 18, 2020 The logistics company, a subsidiary of Hong Kong-listed CWT International Ltd., paid its bond due on April 18 but its parent&rsquo s problems have cast a shadow. CWT International earlier this month defaulted on a loan and lenders have seized the company&rsquo s assets, including its stake in CWT Pte. An auditors&rsquo report contained in CWT International&rsquo s 2018 annual results said there could be &ldquo material uncertainties&rdquo within the firm that &ldquo may cast significant doubt on the Group&rsquo s ability to continue as a going concern.&rdquo Since it was bought in 2017 by CWT International, a unit of Chinese conglomerate HNA Group Co., there&rsquo s been less visibility on the issuer&rsquo s financials. CWT Pte had S$276 million of cash and a net cash position of S$135 million as of financial year 2018, according to a company overview on its website. CWT International&rsquo s total debt was HK$9.7 billion ($1.2 billion) and cash and equivalents stood at HK$1.7 billion as of Dec. 31, according to Bloomberg-compiled data. A spokesman for CWT Pte declined to comment. Vibrant Group Ltd. Debt coming due: S$66 million bond due Oct. 3, 2020 The logistics and real estate group&rsquo s net income for the three months ended Jan. 31 stood at S$3.9 million, a turnaround from a S$664,000 loss for the same period in 2018. But the group has suffered setbacks and in January, it said a special audit of Blackgold International, a Chinese coal-mining group it acquired in July 2017, has revealed lapses. A fact-finding investigation by EY Advisory showed 2.05 billion yuan ($305 million) in overstated sales, the firm also said in January. Cash and equivalents stood at S$59.9 million as of Jan. 31, according to the company&rsquo s filing. Its total debt came to S$332.8 million, Bloomberg-compiled data show. The group said in a March filing it&rsquo s currently seeking permanent waivers for loan covenant breaches resulting from the &ldquo Blackgold event.&rdquo In response to questions, Vibrant&rsquo s chief financial officer Francis Lee referred Bloomberg to the result of its extraordinary general meeting on April 18, where shareholders &ldquo passed a resolution approving the disposal of our property with gross sales proceeds of S$227.5 million.&rdquo Oxley Holdings Ltd. Debt coming due: S$300 million bonds due Nov. 5, 2019 S$150 million notes due May 18, 2020 S$150 million debt due Jan 31, 2022 This Singapore developer has been cutting leverage but its debt load is still high. Oxley said in a filing last month that it accepted an &ldquo expression of interest&rdquo from a U.S.-based fund to buy a unit that owns Chevron House at Raffles Place for S$1.025 billion. However, the expression of interest isn&rsquo t legally binding and subject to due diligence. Its efforts to sell assets have faced some difficulties. The firm terminated a letter of intent to sell its two hotels to Gracious Land for S$950 million in March, prompting a slump in its share price. &ldquo We are confident to redeem the bonds come November 2019. Presently, the Company has commenced its deleveraging exercise and we expect to demonstrate the positive results in near term,&rdquo an external spokesman for Oxley said. The firm had total debt of S$3.9 billion and cash and cash equivalents of S$248.5 million as of Dec. 31, 2018, according to Bloomberg-compiled data. Neptune Orient Lines Debt coming due: S$280 million bonds due Sept. 9, 2020 S$300 million notes due June 22, 2021 Since Neptune Orient Lines Ltd. was bought by French shipping firm CMA CGM SA in 2016, there has been less visibility on the firm. NOL had a net loss after tax of $134 million for its financial year 2018, while its total debt stood at $2.6 billion and total cash at $134 million as of Dec. 31, according to unaudited figures included in a presentation on its website. CMA CGM&rsquo s leverage is likely to climb as it raised its ownership in Ceva Logistics AG, according to an OCBC Credit Research in a report dated March 6. The bank also sees &ldquo further downside risks&rdquo stemming from the rise in protectionism and trade tensions. Global container volume plunged 7.7 percent in February, the steepest decline on record, as volumes were undermined by a slowing global economy, according to Bloomberg Intelligence. A spokeswoman for APL, a unit of NOL, didn&rsquo t immediately respond to emails and a call. Lippo Malls Indonesia Retail Trust Debt coming due: S$75 million notes due June 22, 2020 S$120 million 6.6 percent perpetual bonds S$140 million 7 percent perpetual securities Investor sentiment toward Lippo Malls Indonesia Retail Trust has improved thanks to its sponsor PT Lippo Karawaci&rsquo s plans to raise $1 billion to cut debt. But the trust&rsquo s exposure to Lippo Karawaci remains a concern for investors, who are waiting for a $730 million rights offer to be completed. Lippo Karawaci&rsquo s shareholders this month approved the right issue, which is underwritten by the billionaire Riady family in Southeast Asia. The rights issue is expected to be completed by the first half of 2019, according to a spokesperson for Lippo Malls. Income derived from Lippo Karawaci master leases only accounted for 8.2 percent of Lippo Malls&rsquo first quarter 2019 gross revenue and the rest of related party tenants made up 15.6 percent, according to the spokesperson. As of March 31, Lippo Malls&rsquo gearing ratio stood at 33.9 percent, well below the mandated 45 percent and the trust &ldquo will continue to be pro-active in capital management so as to fulfill all refinancing requirements,&rdquo the spokesperson said. --With assistance from Pooja Thakur. To contact the reporter on this story: Denise Wee in Hong Kong at [email protected] To contact the editors responsible for this story: Andrew Monahan at [email protected], Ken McCallum |
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Qanghoo
Supreme |
22-Apr-2019 08:29
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To me, it' s like chng kays decide. Look at how UOL was depressed for such an extended period, then suddenly chiong. HK Land too ..... But apart from property counters, so many others also seem on life support. Bo bian, this is one of the most classic examples of the price mechanism working in a perfect mkt.
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Goldfinger
Supreme |
21-Apr-2019 21:51
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My uneducated guess only - irrational fears, general malaise on Singapore property stocks and the unseen hand of OX' s enemies. Who knows really... All this happening while Singaporeans will always have a crazy insatiable love for private property.... due to the limited size of our land and people wanting to stay near the CBD.
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damianlee
Member |
21-Apr-2019 21:21
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I read that riverfront residences has sold about 1000 units so far out of the 1400 units. If Affinity also sold about 500 plus units. It means that oxley has sold more than 60 % to 70 % of the two main projects in Singapore. So it should have cash coming in. But why is the share price languishing at 30 cents? Anyone can share ? | ||||
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Goldfinger
Supreme |
20-Apr-2019 17:13
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Yes - but with the 20percent plot ratio and new plans announced by SG Govt post-Chevron deal
- Chevron now deserves a higher price.
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Goldfinger
Supreme |
20-Apr-2019 16:12
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With the increase in plot ratios by 20percent, theoretically, ceteris paribus, they can sell it for 20percent higher now.
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Goldfinger
Supreme |
20-Apr-2019 15:33
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Anyone has any updated sales stats on Oxley SG residential projects? Read in the ST OX advert today, that they have sold 500 units in The Affinity since the Cross Island Line was announced. That is pretty huge. I thought Affinity was their riskiest project, as Riverfront is really for the mass market and upgraders who are not affected by ABSD, whereas Affinity is more investment linked for the upper classes (ie Serangoon Gardens type), for them to house their kids, and hence ABSD will come into play. The Mayfair in BKT TIMAH projects are targeted at folk where even ABSD is no longer an issue - ie the rich BKT TIMAH landed folk who want their kids to stay near them. | ||||
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Goldfinger
Supreme |
19-Apr-2019 22:30
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Not sure - but the worst seems to be over for now. Lets see how the Chevron sale goes - seems to be some positives whether they manage to sell or not, to the PE Fund.
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