Devonshire Residences' contractor goes bust, Oxley finds replacement to finish job

Oxley Holdings has appointed another contractor to complete the construction of Devonshire Residences (artist's impression pictured) after main contractor Admin Construction wound up on Jan 5, 2015. -- PHOTO: OXLEY HOLDINGS
Oxley Holdings has appointed another contractor to complete the construction of Devonshire Residences (artist's impression pictured) after main contractor Admin Construction wound up on Jan 5, 2015. -- PHOTO: OXLEY HOLDINGS

SINGAPORE - Oxley Holdings has terminated the main contract for the construction of its project, Devonshire Residences, with effect from Jan 6 after the main contractor, Admin Construction, was placed under creditors' voluntary winding up the previous day.

Oxley has appointed another contractor to complete the construction of the project.

The termination is not expected to have a material impact on the earnings per share or net tangible assets per share of Oxley for the financial year ending June 30.