Singapore’s Oxley Signs Deal on Myanmar Project

A subsidiary of Singaporean property developer Oxley Holdings has signed an agreement on a Myanmar project to develop a property in its commercial hub Yangon,

Oxley Myanmar will build a 20-storey commercial and residential development, Min Residence, in Mayangon township in northern Yangon.

The project, which will be on a 3,185-acre (1,289 hectare) plot of land owned by U Yang Ho, will take about three years to finish.

Oxley will pay for the construction cost of the project, to be determined after contracts are awarded to contractors and design consultants, the firm said. It will clear the land, procure all construction works, appoint engineers, design and advise on the marketing of the project, the firm added.

Oxley said it will split profits evenly with the land owner after deducting from sales proceeds a “land utilising cost” of $58.9 million, and all construction costs and government taxes and fees, as well as other expenses.

In late August, Oxley Holdings Ltd announced acquisition of 500,000 ordinary (or 50 percent) shares in Oxley Myanmar Pte Ltd, making Oxley Myanmar a wholly-owned subsidiary of the group.

Source: Content sharing partnership between DEALSTREETASIA & MYANMAR BUSINESS TODAY

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.