Oxley acquires 40 percent of Malaysia-based Aspen Vision Homes

Malaysia ringgit notesMalaysia ringgit notes

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.

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