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.

In an interview with The Business Times, Mr Ching, dressed casually in a white Adidas tracksuit, said: "Oxley never had any issues with bondholders. Over the past two years, we repaid around S$1 billion to bondholders. Upon the completion o…