{"id":34041,"date":"2024-08-23T20:43:59","date_gmt":"2024-08-23T15:13:59","guid":{"rendered":"https:\/\/www.businessupturn.com\/asia\/?p=34041"},"modified":"2024-08-23T20:43:59","modified_gmt":"2024-08-23T15:13:59","slug":"singapores-oxley-holdings-anticipates-net-loss-cites-impairment-and-lower-revenue","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/asia\/southeast-asia\/singapore\/business-singapore\/singapores-oxley-holdings-anticipates-net-loss-cites-impairment-and-lower-revenue\/34041\/","title":{"rendered":"Singapore\u2019s Oxley Holdings anticipates net loss, cites impairment and lower revenue"},"content":{"rendered":"<p class=\"whitespace-pre-wrap break-words\">Oxley Holdings Limited, a property developer listed on the Singapore Exchange, has issued a profit guidance announcement indicating expected losses for the second half and full year ended 30 June 2024.<\/p>\n<p class=\"whitespace-pre-wrap break-words\">In a statement released today, the Board of Directors of Oxley Holdings revealed that based on a preliminary review of the unaudited financial results, the Group anticipates reporting a net loss for both the second half (2H2024) and the full year (FY2024).<\/p>\n<p class=\"whitespace-pre-wrap break-words\">The company attributed the projected losses to several factors:<\/p>\n<ol class=\"-mt-1 list-decimal space-y-2 pl-8\">\n<li class=\"whitespace-normal break-words\">Impairment losses<\/li>\n<li class=\"whitespace-normal break-words\">Finance costs<\/li>\n<li class=\"whitespace-normal break-words\">Lower revenue recognized from the Group\u2019s property development projects<\/li>\n<\/ol>\n<p class=\"whitespace-pre-wrap break-words\">Oxley Holdings is currently in the process of finalizing its unaudited financial results for FY2024. The company stated that more comprehensive details of the Group\u2019s financial performance will be disclosed when it announces the unaudited financial results for 2H2024 and FY2024. This announcement is expected on or before 29 August 2024.<\/p>\n<p class=\"whitespace-pre-wrap break-words\">In light of this profit guidance, the company has advised shareholders and potential investors to exercise caution when trading in Oxley Holdings\u2019 shares. The Board recommends that those in doubt about their course of action should consult their financial, tax, or other professional advisers.<\/p>\n<p class=\"whitespace-pre-wrap break-words\">The profit guidance serves as an early indication of the company\u2019s financial position, allowing stakeholders to make informed decisions ahead of the full financial results announcement.<\/p>\n<p class=\"whitespace-pre-wrap break-words\">Oxley Holdings Limited, incorporated in Singapore, is known for its property development projects. This profit warning may reflect ongoing challenges in the real estate sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oxley Holdings Limited, a property developer listed on the Singapore Exchange, has issued a profit guidance announcement indicating expected losses\u2026<\/p>\n","protected":false},"author":416,"featured_media":34045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17984],"tags":[],"class_list":["post-34041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-singapore"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/34041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/users\/416"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/comments?post=34041"}],"version-history":[{"count":1,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/34041\/revisions"}],"predecessor-version":[{"id":34046,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/34041\/revisions\/34046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media\/34045"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media?parent=34041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/categories?post=34041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/tags?post=34041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}