United Engineers

United Engineers reports 16% lower 3Q earnings of $7.7 mil on revenue decline
SINGAPORE (Nov 14): United Engineers reported 16% lower 3Q18 earnings of $7.7 million, down from $9.1 million a year ago on lower revenue. Revenue fell 31% y-o-y to $81.5 million from $118.2 million in 3Q17, mainly due to lower revenue from the property development segment as well as in the absence of revenue contribution from the group’s liquefied petroleum gas (LPG) business after it was ...
United Engineers' 3Q earnings sink 92% to $10.6 mil on discontinued operations
SINGAPORE (Nov 13): Property, engineering and manufacturing group United Engineers saw its earnings tumble 92% to $10.6 million in the 3Q ended September, from $134.7 million a year ago. This was mainly attributable to the absence of $179.2 million in profit a year ago from discontinued operations relating to Multi-Fineline Electronix as well as UE’s environmental engineering ...
Perennial, Yanlord extends UE takeover offer to Sept 12
SINGAPORE (Aug 29): Yanlord Perennial Investment (Singapore), the consortium led by Perennial Real Estate and Yanlord Land Group, have extended their takeover offer for United Engineers. See: Yanlord to join Perennial in bid for United Engineers In a filing on Monday night, Yanlord Perennial says the closing date for both the ordinary share offer and preference share offer have been ...
Oxley scoops up more UE shares, raises stake to 11.57%
SINGAPORE (Aug 23): Oxley Holdings now holds an 11.57% stake in United Engineers, the property development and engineering company, which is in the midst of a takeover offer. This comes after Oxley, led by CEO Ching Chiat Kwong, amassed a total of 5.3 million shares at an average price of $2.688 each from the open market over the past week, according to a filing by Oxley on Tuesday ...
Oxley acquires 7.11% stake in United Engineers but will not be making competing offer
SINGAPORE (Aug 4): Oxley Holdings has acquired a 7.11% stake in United Engineers which has received a takeover offer. But Oxley says it will not be making a competing offer for UE. The property group announced this morning it scooped up 45.3 million UE shares at $120.3 million in the open market. This works out to an average transacted price of $2.65 for each UE share. Early last ...
Latest bid to take UE private will most likely fail, says Lim & Tan
SINGAPORE (July 14): Lim & Tan says it does not expect United Engineers to be taken private successfully in the latest offer. See: Yanlord-led consortium to acquire stakes in UE, WBL Corp for up to $730 mil In its Friday daily review, the brokerage says the offer price for both UE and WBL Corporation at $2.60 and $2.07, price them at 0.88x and 0.78x price to book and "is clearly ...
Yanlord-led consortium to acquire stakes in UE, WBL Corp for up to $730 mil
SINGAPORE (July 13): A group led by Yanlord Land, together with Perennial Real Estate, is making an offer to acquire a 33.5% stake in United Engineers at $2.60 each. The group has acquired a 10% stake in WBL Corporation and is committed to acquire another 19.9% stake at a later date. If the group owns more than 50% of UE, an offer will be made to buy the remaining shares in WBL at the same ...
Yanlord to join Perennial in bid for United Engineers
SINGAPORE (July 12): Yanlord Land Group, the China-focused developer, is partnering with Perennial Real Estate Holdings in a bid for century-old Singapore property group United Engineers, people with knowledge of the matter said. A consortium including Perennial and Yanlord plans to announce an agreement as soon as Thursday to buy Oversea-Chinese Banking Corp.’s stakes in United Engineers ...
OCBC, Great Eastern say still in talks with ‘several parties’ regarding UE & WBL stakes
SINGAPORE (June 1): Oversea-Chinese Banking Corp (OCBC) and its insurance arm, Great Eastern Holdings (GEH), say they have received proposals from “several parties” regarding their combined stakes in United Engineers (UEL) and WBL Corporation. (See also: United Engineers owners said to pick Pua's Perennial for final talks) The duo stressed that they are still in the midst of evaluating ...
11 potential privatisation targets to go after: UOB
SINGAPORE (Mar 8): UOB Kay Hian has shortlisted a number of SGX-listed stocks as possible “go” plays for investors, with the potential to be privatised. In a presentation obtained by The Edge Markets, UOB explains that the stocks were selected based on four criteria, namely: large owner or substantial-shareholder stakes; stock price at steep discount to net asset value; clean books and ...