Oxley Holdings Completes Sale of 30% Interest in Malaysian Luxury Hotel

MT Newswires07-30

Oxley Holdings (SGX:5UX) has completed the sale of a 30% interest in the luxury hotel at Oxley Towers KLCC in Malaysia for 250 million ringgit, according to a Wednesday filing with the Singapore Exchange.

Following the transaction, Artisan Hospitality became the owner of the luxury hotel, which will be managed under the Langham brand.

Oxley expects the disposal to strengthen the group's cash flow. However, after reassessing the property's carrying value, it expects to recognize an impairment loss in its financial statements for the fiscal year ended June 30, 2026.

While the impairment will affect the group's FY26 financial results, it is not expected to have a material impact on earnings per share or net tangible assets per share for the financial year ending June 30, 2027, the company said.

The initial agreement for the stake sale was signed in October 2024.

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