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Oxley enters Australia with 40% stake in local construction company

Gwyneth Yeo Published on Tue, Dec 06, 2016 / 1:25 PM GMT+8

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SINGAPORE (Dec 6): Oxley Holdings is acquiring a 40% stake in a Western Australia-based property and construction company, Pindan Group, for A$32 million ($34 million).

Pindan was established in 1977 and boasts an annual turnover of A$500 million and an order book of A$1 billion.

Following the investment, Oxley’s executive chairman and CEO, Ching Chiat Kwong, and deputy CEO, Eric Low, will join Pindan’s board.