Brokers' take

Small-mid cap property

OCBC INVESTMENT RESEARCH, Feb 3

FOR its Q1FY14 (end-Sept 2013), Oxley Holdings announced a net income of S$250.8 million, up 37 times y-o-y. This comprised cash earnings, not valuation gains, and almost matched the combined earnings of CapitaLand and City Developments, the two largest domestic developers, over that quarter.