Investors who look at China Evergrande saga would probably be spooked and in turn, avoid the Singapore property developers in fear of contagion. On the local context, one company that seems to be trading on the cheap (4.9x FY22F P/E) but neglected by investors is none other than Oxley Holdings. In this article, we are going to address the company’s relatively higher debt load and how it is strengthening its financial position via divestments and future billings. About Oxley Holdings Oxley is a home-grown property developer with a diversified portfolio, including property development, property investment and project management. The Group has a business presence across nine geographical markets, including Singapore, the UK, Ireland, Cyprus, Cambodia, Malaysia, China, Vietnam and Australia. The Group specialises in the development of quality residential, commercial, industrial and hospitality projects. Since its incorporation in March 2010, Oxley has launched a portfolio of 48 projects...