Singapore Stock Market News

Oxley Holdings - Overseas Diversification Bearing Fruits

StockFanatic
Publish date: Wed, 19 Nov 2014, 12:37 PM
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We hosted Oxley to a luncheon following its 1QFY15 results. Maintain BUY and SGD0.91 TP (78.4% upside). Management said its healthy earnings stream was from >SGD3bn in Singapore presales while overseas launches were progressing well too with steady take-ups in London and Cambodia booking SGD1.6bn in sales. Its high gearing was a talking point, but we expect this to steadily decline with ongoing progressive collections.
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