Roxy-Pacific Holdings

[punklitez]

Proposed Sale of 117 Clarence Street, Sydney, Australia

Roxy-Pacific Holdings Limited announced that its indirect associate company, Feature-Roxy Pty Ltd, has entered into a non-binding Heads of Agreement with an Australian domiciled institutional investor (the "Purchaser") to sell the property located at 117 Clarence Street, Sydney Australia to the Purchaser at a price of AUD153,000,000. The Proposed Sale is subject to the findings of the due diligence exercise to be carried out by the Purchaser pursuant to the non-binding Heads of Agreement, obtaining of board approvals by the parties, as well as the definitive sale agreement(s) that the parties may enter into.

will they book a profit?

[cyclone]

Acquisition of Freehold Residential Site

Roxy-Pacific Holdings Limited announced that its indirect associated company, RH Novena Pte. Ltd., has entered into an agreement to acquire a freehold residential site situated at Lots 527T and 1072P both of TS 29 at 27 Moulmein Rise, Singapore, at the purchase price of S$106,000,000.

The said freehold residential site has an estimated total land area of 22,198 sq ft and can be redeveloped into a 20-storey residential apartment with a maximum permissible gross floor area of 72,003 sq ft.

[cyclone]

Proposed Sale of 117 Clarence Street, Sydney, Australia

Roxy-Pacific Holdings Limited announced that its indirect associate company, Feature-Roxy Pty Ltd, has entered into a non-binding Heads of Agreement with an Australian domiciled institutional investor (the "Purchaser") to sell the property located at 117 Clarence Street, Sydney Australia to the Purchaser at a price of AUD153,000,000. The Proposed Sale is subject to the findings of the due diligence exercise to be carried out by the Purchaser pursuant to the non-binding Heads of Agreement, obtaining of board approvals by the parties, as well as the definitive sale agreement(s) that the parties may enter into.

will they book a profit?

Roxy-Pacific and Tong Eng Group had acquired the property in February 2016 for A$81 million through a joint venture company, Feature-Roxy Pty Ltd, of which both parties own an equal 50% stake. 

The sale of 117 Clarence Street is expected to contribute positively to Roxy-Pacific’s financial performance in the financial year ending December 31, 2018.

[cyclone]

Acquisition of Retail Property at Ginza, Chuo-Ku in Tokyo, Japan

Roxy-Pacific Holdings Limited announced that its wholly-owned subsidiary, RPV Two Pte. Ltd., had subscribed for 1,101,250 ordinary shares in the issued and paid-up share capital of Nigella SG Pte. Ltd., a company incorporated in Singapore for a total subscription amount of JPY1,101,250,000. Details of Nigella SG are set out below:

Name of Company: Nigella SG Pte. Ltd.
Country of Incorporation: Singapore
Issued and paid-up share capital: JPY2,075,000,000, comprising 2,075,000 ordinary shares
Principal activity: Investment holding and property investment in Japan
Related corporations of Nigella SG:
(i) Leon SG Pte. Ltd., a company incorporated in Singapore (100% owned by Nigella SG)
(ii) Patos SG Pte. Ltd., a company incorporated in Singapore (100% owned by Nigella SG)
(iii) Leon TMK, an entity incorporated in Japan (100% owned by Leon SG Pte. Ltd. and Patos GK)
(iv) Patos GK, an entity incorporated in Japan (of which Patos SG Pte. Ltd. holds a tokumei kumiai interest)

RPV Two, its joint venture partner, TE2 Development Pte. Ltd., and other individual investors, have entered into a shareholders’ agreement in relation to the operations of Nigella SG (the "Joint Venture"). The shareholding interest of Nigella SG is held by the shareholders as follows: (a) 53.07% shareholding interest by RPV Two, (b) 25% by TE2 Development Pte. Ltd., and © 21.93% by the individual investors. 

Following the subscription of shares in Nigella SG and the entry into the aforementioned shareholders’ agreement, the Company has classified Nigella SG, Leon SG Pte. Ltd. and Patos Pte. Ltd., Leon TMK and Patok GK as associates of the Group.

Nigella SG, through Leon TMK, has entered into an agreement to acquire the retail building situated at Ginza, Chuo-ku in Tokyo, Japan, at a purchase price of JPY6,000,000,000 (approximately S$75,730,000) (excluding consumption tax). The cost of the Subscription and the Group’s share of the cost of the Acquisition will be financed by internal funds and bank borrowings.

More details in https://links.sgx.com/FileOpen/RPH_Ann_A...eID=564973

[cyclone]

Roxy-Pacific Achieves 1H2019 Net Profit of S$9.3 Million on Revenue of S$139.9 Million

Highlights :
1. Excluding fair value gain from 117 Clarence Street in 1H2018, pre-tax profit increases by 98% to S$11.7 million
2. To launch six projects for sale in FY2019, comprising a total of 604 units
3. Total attributable pre-sale revenue of S$620.6 million to be progressively recognised from 3Q2019 to FY2023
4. Strengthens recurring income with total of four hotels in Singapore, Japan and Maldives and another targeted to open in Phuket in 2021
5. Expands footprint in Japan with acquisition of retail property at Ginza
6. Good headroom with cash and bank balances of S$228.0 million and low gearing at 0.84 time
7. Declares interim cash dividend of 0.195 Singapore cent per share

More details in :
1. https://links.sgx.com/FileOpen/RPH_Ann_2...eID=572628
2. https://links.sgx.com/FileOpen/RPH_Ann_2...eID=572630
3. https://links.sgx.com/FileOpen/RPH_Ann_2...eID=572629

[Behappyalways]

Roxy


The stock market is underpricing risks
http://www.theedgesingapore.com/capital/...ng-risks-0

[¯|_(ツ)_/¯]

1H Result as at 30 Jun 2020
Rev $118m (vs 139m)
GP  $ 17m (vs 37m)
NP  $  2m (vs  8m)
Div NIL   (vs 1.95cts)

The economic outlook remains challenging for the year ahead with global uncertainties due to COVID-19 pandemic. Whilst the Group managed to stay profitable in 1H2020, mainly due to the successful divestment of its retail building at Ginza, Japan, management expects the financials in 2H2020 to be adversely impacted by the ongoing unprecedented market uncertainty, including operational performance during the period and risk of asset impairments at year end.

Despite all the challenges, the Group will continue to monitor the evolving pandemic situation and adjust and react proactively with appropriate countermeasures to minimise financial impact for the financial year ending 31 December 2020. 

Stay home and stay healthy, valuebuddies.