OXLEY: Oxley Tower achieves TOP, $500m+ revenue to be recognised

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Details: The NextInsight Team; 13 December 2016

Artist's impression of Oxley TowerOxley Holdings's iconic Oxley Tower in Robinson Road has received TOP, on 9 Dec, from the Building and Construction Authority of Singapore.

"At TOP, we will be able to reduce up to S$211 million of project debt through collections from buyers of the sold units," notes Executive Chairman and CEO, Mr. Ching Chiat Kwong.

In addition, revenue in excess of S$500 million will be recognised in December 2016.

Oxley Holdings
Share price: 44 c	Target: 85 c Source: RHB

The top three floors of the 32-storey freehold strata-titled commercial development with a gross floor area of 16,839 sq m -- have been reserved for Oxley’s corporate office use.

Oxley continues to develop properties in nine geographical markets.

See also: OXLEY: How its strong cashflow will soon pare down its gearing further

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Counter Name	Last	Change
AEM Holdings	1.860	0.020
Best World	2.500	0.020
Boustead Singapore	0.950	-
Broadway Ind	0.148	0.003
China Aviation Oil (S)	0.870	0.005
China Sunsine	0.400	0.010
ComfortDelGro	1.380	-0.010
Delfi Limited	0.875	-
Food Empire	1.110	-0.010
Fortress Minerals	0.295	-0.015
Geo Energy Res	0.305	0.005
Hong Leong Finance	2.440	0.020
Hongkong Land (USD)	3.500	0.080
InnoTek	0.510	0.005
ISDN Holdings	0.305	0.005
ISOTeam	0.050	0.003
IX Biopharma	0.040	0.001
KSH Holdings	0.250	0.005
Leader Env	0.049	-
Ley Choon	0.054	-0.001
Marco Polo Marine	0.067	-0.001
Mermaid Maritime	0.138	0.003
Nordic Group	0.305	-
Oxley Holdings	0.087	-0.003
REX International	0.126	0.002
Riverstone	0.930	-
Southern Alliance Mining	0.485	0.005
Straco Corp.	0.480	-0.010
Sunpower Group	0.220	-0.010
The Trendlines	0.063	-
Totm Technologies	0.020	0.001
Uni-Asia Group	0.810	-
Wilmar Intl	3.130	-0.030
Yangzijiang Shipbldg	1.740	-0.010