Is there value in its current share price? Rather high risk.
2Q2014 results - http://infopub.sgx.com/FileOpen/Results2...eID=273828
Performance Review & Update
Oxley’s commendable 1H14 performance was primarily driven by revenue recognition,
based on the completion of construction method on its two industrial developments, the 728-
unit Oxley BizHub and the 131-unit The Commerze@Irving. Revenue was also recognised
from the progress made in the construction of 12 of the Group’s mixed-residential projects,
namely, Viva Vista, RV Point, Loft@Holland, Vibes@Kovan, Devonshire Residences,
Suites@Braddell, Vibes@East Coast, The Promenade@Pelikat, Vibes@Upper Serangoon,
Presto@Upper Serangoon, Oxley Edge and NEWest.
In November 2013, Oxley expanded its business horizon into Europe with its largest
purchase to date - the acquisition of adjacent parcels of land in London’s Royal Docks area,
known as the Royal Wharf. Costing £200 million in all, these sites yield an effective gross
area of approximately 363,000 square metres, which Oxley intends to develop into more
than 3,000 residential units, along with a mix of commercial, retail, leisure and educational
In the same month, the Group entered into a joint-venture with Peninsular Teamwork Sdn.
Bhd. to develop a residential property in Selangor, Malaysia. Known as “Beverly Heights”,
the project will occupy a land area of about 61,800 square metres, and will entitle Oxley to
70% of the gross development value upon its completion.
To support its pipeline of overseas projects, Oxley established a second $500-million
Multicurrency Medium Term Note programme in November 2013. This new source of funds
will enable the Group to make inroads and establish its position beyond Singapore.