Stocks In Focus SG (Oxley Hldgs, Thakral Corp, XMH Hldgs) – 05/03/15

Oxley Holdings has entered into a 49:51 joint venture (JV) with Lian Beng Group, for the development of a land parcel at Tampines North Drive 1, which has a site area of 27,395.2 square metres. The parcel was awarded to the JV company, Goldprime Land, for $64.4 million and is zoned under “Business 2”, which is intended to be utilised for industry, warehouse, utilities and telecommunication uses.

Thakral Corporation posted a 21 percent increase in revenue to $499.9 million for the year ended 31 December 2014, due to improved rental income and project returns as well as higher sales in the lifestyle division. However, gross profit declined 7.2 percent to $24 million due to weak demand impacting gross margins as well as necessitating allowances for ageing inventories. Consequently, despite strong contributions from the investment division, the firm remains in the red with a net loss of $0.1 million.

XMH Holdings has acquired an 80 percent stake in Z-Power Automation, an automation services and total solutions provider engaged in the design and manufacturing for the marine and offshore industries, for $12.8 million. The company feels that the acquisition will allow it to tap on ZPA’s inherent strength to expand its product offerings for existing customers and leverage on its clientele and sales network.

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