SINGAPORE (Sept 12): United Engineers (UE) on Tuesday announced the appointment of Zhong Sheng Jian and Pua Seck Guan as its new directors.

Zhong, the chairman and CEO of Yanlord Land Group, has been named as a non-independent and executive director of UE.

Meanwhile, Pua, who is executive director and CEO of Perennial Real Estate Holdings as well as executive director and COO of Wilmar International, has been named as a non-independent and non-executive director of UE.

Zhong and Pua were nominated for appointment by the consortium led by Perennial and Yanlord, Yanlord Perennial Investment (Singapore), which has spearheaded a takeover bid for UE.

The consortium in July acquired a 33.5% stake in UE at $2.60 per share and a 10% stake in UE unit WBL Corporation for $2.07 per share, which triggered the mandatory general offer for UE.

The consortium is offering $2.60 for each UE share.

See: Yanlord to join Perennial in bid for United Engineers

Shares in United Engineers closed flat at $2.72 on Tuesday.

Shares in Yanlord Land closed 1.5 cents higher at $1.66 while shares in Perennial closed half a cent lower at 87.5 cents.