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RHB 

Oxley Holdings (OHL SP)

Boost From Sale of No. 3 Dublin Landings

 

 Reiterate BUY, SGD0.43 TP implies 21% upside and c.9% yield. Oxley has entered a memorandum of agreement with Iput for the sale of the 297-year leasehold interest in No. 3 Dublin Landings in Dublin 1, Ireland, for EUR115m. Proceeds from the sale will contribute positively to FY20F cash flow. We expect much stronger quarters ahead, due to the recognition of the remaining Chevron House sales as well as its Dublin and Singapore projects.

 

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LionelLim8.16Check out our compilation of Target Prices




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