{"id":75297,"date":"2017-12-27T10:41:25","date_gmt":"2017-12-27T03:41:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-holdings-acquires-freehold-property-from-interested-person\/"},"modified":"2017-12-27T11:03:20","modified_gmt":"2017-12-27T04:03:20","slug":"oxley-holdings-acquires-freehold-property-from-interested-person","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-holdings-acquires-freehold-property-from-interested-person\/","title":{"rendered":"Oxley Holdings acquires freehold property from interested person"},"content":{"rendered":"


\nOxley Holdings, via its wholly-owned subsidiary Oxley Amethyst Pte Ltd, has exercised an option to acquire a property along Balestier Road for $38 million from Owen Private Limited.
\nWith a land area of around 1,118.4 sq m, the freehold property is zoned residential with commercial on the first storey at a gross plot ratio of 3.0.
\nIn an SGX filing, Oxley revealed that Owen\u2019s shareholders \u2013 Ching Chiat Kwong, Low See Ching and Tee Wee Sien \u2013 are also Oxley\u2019s executive chairman and CEO; deputy CEO and substantial shareholder, respectively.
\nIt noted that the three hold 47.5 percent, 42.5 percent and 10 percent, respectively, of the issued share capital of Owen.
\nBut while the acquisition is an interested person transaction, the approval of shareholders will not be needed since the purchase consideration is around 3.5 percent of the group\u2019s latest audited net tangible assets as at 30 June 2017.
\nOxley believes that the purchase will enable it \u201cto undertake a larger development project of greater value by amalgamating the property\u201d with No. 3 Tessensohn Road and an adjoining state land.
\nSeparately, Oxley announced that it has taken a 25.5 percent stake in Australian firm Pindan Capital Mermaid Beach (PC Mermaid Beach).
\nThis comes after Oxley Australia subscribed for 4.845 million fully paid ordinary shares in PC Mermaid Beach, which has an issued share capital of A$19 million (S$19.7 million).
\nThe remaining share capital comprising 14.155 million ordinary shares is held by Pindan Capital Investments, a fully-owned subsidiary of Pindan Group, in which Oxley holds a 40 percent interest.
\n\u201cPC Mermaid Beach has acquired a 1,417-square metre site in the centre of Broadbeach and Mermaid Beach on the Gold Coast, Australia and intends to undertake a high-rise residential development on the site, subject to obtaining all relevant regulatory approvals,\u201d it said.
\nOxley explained that the investment in PC Mermaid Beach is in line with the group\u2019s expansion plans.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Oxley Holdings acquires freehold property from interested person<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oxley Holdings, via its wholly-owned subsidiary Oxley Amethyst Pte Ltd, has exercised an option to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-75297","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-jAt","jetpack-related-posts":[{"id":41246,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-posts-stellar-sales-profit\/","url_meta":{"origin":75297,"position":0},"title":"Oxley posts stellar sales, profit","date":"January 20, 2017","format":false,"excerpt":"\r Ching Chiat Kwong, Executive Chairman and CEO at Oxley Holdings. Oxley Holdings announced on Thursday (19 January) that its net profit surged by 58 percent to $130.9 million during the last six months of the preceding year, compared to the same period in 2015. At the same time, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-planning-up-to-7-spore-projects-for-rest-of-2018\/","url_meta":{"origin":75297,"position":1},"title":"Oxley planning up to 7 S\u2019pore projects for rest of 2018","date":"March 27, 2018","format":false,"excerpt":"\r Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings plans to launch up to seven property projects in Singapore over the next nine months in a bid to take advantage of the ongoing recovery in the private housing market, according to an SGX filing on Monday (26 Mar).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/from-policeman-to-property-developer\/","url_meta":{"origin":75297,"position":2},"title":"From policeman to property developer","date":"November 23, 2017","format":false,"excerpt":"\r Oxley Holdings CEO Ching Chiat Kwong. Ching Chiat Kwong has juggled many roles in his life. Never one to shy away from taking risks, he took the plunge to become a developer 10 years ago. Today, his company Oxley Holdings is a major property player, both at home and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/Mayfair-Gardens-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":92698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxleys-the-verandah-residences-fully-sold-within-three-months\/","url_meta":{"origin":75297,"position":3},"title":"Oxley\u2019s The Verandah Residences fully sold within three months","date":"June 28, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Verandah Residences, a 170-unit freehold project whose design is inspired by Singapore\u2019s black and white colonial bungalows.\u00a0 Oxley Holdings has achieved 100 percent sales at The Verandah Residences within three months since its official launch on 7 April. With average unit prices at $1,795 psf,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-holdings-acquires-freehold-property-at-east-coast-for-s10-5mil\/","url_meta":{"origin":75297,"position":4},"title":"Oxley Holdings acquires freehold property at East Coast for S$10.5mil","date":"May 25, 2017","format":false,"excerpt":"\r \u00a0 Oxley Holdings Limited had exercised an option to acquire the freehold property at 494 Upper East Coast Road for S$10.5 million. With a land area of 1,292.1 sq m, the property is zoned \u201cpart residential\/part road\u201d. In an SGX filing, Oxley revealed plans to \u201credevelop the property, subject\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24360,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-full-year-profit-surges-123\/","url_meta":{"origin":75297,"position":5},"title":"Oxley full-year profit surges 123%","date":"August 30, 2016","format":false,"excerpt":"\r Oxley Holdings is developing the Royal Wharf, a massive waterfront development in London.\u00a0 Despite tough market conditions, Singapore-listed Oxley Holdings\u2019 net profit surged by 123 percent on an annual basis to $295.4 million for the financial year ended 30 June (FY2016), according to an SGX filing by the group.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75297"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=75297"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=75297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=75297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=75297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}