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This letter, released by Oxley Holdings on 14 Feb 2018, marks the near-achievement of a project that will rank among the most prestigious it has ever done.
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Stock price |
66 cents |
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52-week range |
48 - 73 cents |
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PE (ttm) |
10.4 |
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Market cap |
S$2.1 billion |
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Shares outstanding |
3.24 billion |
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Dividend yield |
0.96% |
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1-yr return |
32% |
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Source: Bloomberg |
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Oxley is leading a consortium whose two other partners are Sino Great Wall, a Beijing-based company listed on the Shenzhen Stock Exchange, and Min Dhama, a subsidiary of Mottama Holdings owned by Chinese-Myanmar businessman U Yang Ho.
The consortium is the “Preferred Bidder” for the Yangon Central Railways Station Area Comprehensive Development Project whose tender first opened in 2014, attracting bids from a number of countries.
The Oxley team trumped over other consortiums fielding companies including Singapore-listed Yoma Strategic Holdings and Myanmar-listed First Myanmar Investment.
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♦ It spans 25.7 hectares, equivalent to about 35 football fields. ♦ It will be a transportation hub that integrates rail and mass transit, surrounded by amenities of housing and commerce. |
The award of contract shall be subject to the completion of negotiations and legal arrangements.
In some media reports, the project is cited to be valued at US$2.5 billion.
That makes it another piece of massive work ahead for Oxley as it is slated to launch S$3 billion worth of properties in Singapore in the next few months.
Artist's impression.