Oxley Holdings

Oxley is now a Catalist listco. In a matter of months, it should be eligible to upgrade to Mainboard. U know the implications for the stock price?  

Today OXLEY is looking good, + 2 = 44.5 cents

Thot suddenly Oxley became a big bargain at 24.5 cents. Actually, after checking I realised it's because it did a stock split. 10 shares became 18 shares. The theoretical price is 24.5 cents or thereabouts, derived from 44.1 cents pre-split.

Oxley has 12% growth in net profit for 1Q.

Surprising gift of a dividend of 0.11 cent per ordinary share !

*(for all post-split shares and post-rights issue shares).


(This is on top of the FY12 final dividend to be paid this month of 0.47 cent a share based on pre-split shares).

This amounts to approximately $3.24 million and is equivalent to a dividend payout ratio of approximately 49%.

Which month  can Oxley upgrade to Mainboard?

These days, Oxley surprises me less and less, in a positive sense. It is making acquisitions fast & furious, and it is making big purchases. Such aggressiveness will accelerate its growth. Just hope it doesn't get hit by any economic crisis outside of its control. 

The latest acquisition is ..... on 14 November 2012 exercised an option (the “Option”) to purchase the property known as 71/73/73A Oxley Rise, Singapore (the “Property”) from the trustees of The Sir Manasseh Meyer Synagogue and School Trust (the “Vendor”) at a purchase price of S$130,000,000 (the “Acquisition”). 

Me too, waitng for Oxley to be upgraded to Mainboard and then re-rated by the market and loved by fund managers (who now cannot invest in Catalist stocks).

Oxley has done very well, thanks to the property bubble leading to most/all of its launched projects fully sold. As progressive payments come in, they are used to pay off bank borrowings that are growing too to finance Oxley's big appetite for new landbank. From the banks' risk management pt of view, Oxley is A-OK.

Stock price is 23-24 cents (after bonus & rights issues). Target 35 cents by mid-2013.