Roxy-Pacific Holdings - OCBC Investment 2016-11-25: To buy Grange Road freehold residential site

Roxy-Pacific Holdings - OCBC Investment 2016-11-25: To buy Grange Road freehold residential site ROXY-PACIFIC HOLDINGS LIMITED E8Z.SI

Roxy-Pacific Holdings - To buy Grange Road freehold residential site

  • Roxy-Pacific Holdings announced that it would acquire the development at 120 Grange Road for S$48.5m. The freehold residential site has an existing plot ratio of 2.1 and an estimated total land area of 15,780 sq ft. 
  • The group reported that the cost of the acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on consolidated earnings and net tangible assets for the current financial year. 
  • We like that management continues to build its land-bank carefully amidst an uncertain market and note that the group currently sits on total pre-sale revenues of S$399.2m which will be progressively recognized from 4Q16 to 2020.
  • Maintain HOLD with an unchanged fair value estimate of S$0.52 per share.




Eli Lee OCBC Investment | http://www.ocbcresearch.com/ 2016-11-25
OCBC Investment SGX Stock Analyst Report HOLD Maintain HOLD 0.520 Same 0.520




Advertisement




MOST TALKED ABOUT STOCKS / REITS OF THE WEEK



loading.......


ANALYSTS SAY


loading.......