Oxley Holdings said Tuesday it has acquired a 40 percent stake in Malaysia-based Aspen Vision Homes for 20 million ringgit (S$6.54 million or US$4.83 million).
AV Homes holds a 75 percent interest in Aspen Park Hills (APH), which has entered a deal to acquire 29.05 acres of freehold land in Paya
Terubong, Penang, Malaysia for 165 million ringgit, Oxley said in a filing to SGX.
APH intends to develop the property into four residential towers with communal facilities, two serviced apartment towers, lifestyle retail facilities and a residents’ clubhouse, Oxley said.
AV Homes is a subsidiary of Singapore-listed Aspen (Group) Holdings (AGH), which is 10 percent owned by Oxley, the filing said.
The other shareholders of AV Homes are AGH’s wholly owned subsidiary Aspen Vision Properties, with a 51 percent stake, Wang Yu Huei, with a 6 percent stake, and Lee Chee Seng, with a 3 percent stake, the filing said.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.