08 Dec '16, 3am

Asia #Business ~ Oxley to acquire 40% stake in Australian property firm - PropertyGuru #Singapore

Ching Chiat Kwong, Executive Chairman and CEO at Oxley Holdings. Property developer Oxley Holdings plans to acquire a 40 percent stake in Pindan Group, a leading property and construction company in Western Australia. In an SGX filing this week, Oxley revealed that it will invest A$32 million in Pindan, comprising the acquisition of shares that is expected to help in securing new development projects. Established in 1977, the privately-owned company has an annual turnover of more than A$500 million, with more than A$1 billion work on hand. Pindan recently expanded into other Australian states, including Queensland and New South Wales. Oxley noted that its involvement in Pindan will enable the Australian company to grow its project portfolio, as well as accelerate its transition from being a major Western Australian builder to a national developer. The investment is in line...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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