Reported 6 months ago
Oxley Holdings Ltd, a struggling property developer in Singapore, is looking to secure a private credit loan of $100 million to $120 million to assist in repaying a Singapore dollar bond due next month. The two-year loan would be backed by Oxley's property projects in Kuala Lumpur and London. The company plans to use a portion of the funds to repay its Singapore dollar-denominated bond. Oxley's financial situation shows total cash of S$48.9 million and current liabilities of S$1.4 billion as of December 31, 2023. The Singapore property sector, although previously resilient, has experienced a slowdown. Oxley, established in 2010, has completed over 40 projects globally, and its shares have been trading at around 8.8 Singapore cents, nearing their lowest point since the company's IPO in 2010.
Source: YAHOO