Oxley confident of repaying S$1.6b debt due in next three years

Singapore

OXLEY Holdings' executive chairman and chief executive officer Ching Chiat Kwong is confident that the property developer can pay off its S$1.6 billion in debt due in the next three years through the sale of its completed projects, local and overseas, as well as a steady stream of asset disposals.

As at end-2018, the property group's net gearing stood at 2.55 times, a significant rise from 2.17 times just six months earlier - as the company borrowed more from banks to fund its acquisition of Singapore development projects as well as advances to joint ventures.