Business Model of Roxy Pacific Holdings Limited

Roxy Pacific Holdings Limited (‘Roxy’) is a small-sized property developer with a focus on the Asia-Pacific region. It was listed on SGX on 12 March 2008 with ticker code of (E8Z.SI). Today, it has grown to reach a market capitalisation of S$655 million. Roxy is helmed by the Teo family and its key management team has been running the company for more than 15 years. As a property developer, Roxy operates in the following segments of real estate: For residential developments in Singapore and overseas markets, Roxy purchases the land and develops them into apartments or houses for sale. Revenue recognition for Singapore and overseas projects are based on percentage of completion and completion basis respectively. For its commercial properties, Roxy either develop them from scratch or buy completed buildings to hold for recurring income. ......