SINGAPORE (Sept 20): NRA Capital says Roxy-Pacific Holdings might be on the road to recovery, with the company announcing land acquisitions in Singapore worth a total of over $44 million in the past month alone.

“Our analysis suggest that Roxy’s earnings may potentially have bottomed out in 2016, with overseas contribution helping to generate a measured earnings recovery from 2017 onwards,” says NRA analyst Liu Jinshu in a Monday report.

Roxy-Pacific on Sept 14 announced the acquisition of another freehold residential site at Jalan Eunos for $10.98 million, adding on to an adjoining site it had acquired earlier.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook