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Sale of United Engineers could impact property market

Broker's Calls

Sale of United Engineers could impact property market

Gwyneth Yeo Published on Fri, Sep 30, 2016 / 1:08 PM GMT+8

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SINGAPORE (Sept 30): United Engineers’ share price jumped 4.5% on Tuesday to close at $2.52 after Oversea-Chinese Banking Corporation and Great Eastern Holdings said they were reviewing their combined investments in UE and WBL Corporation.

(See OCBC and Great Eastern confirm reviewing options with United Engineers stake)

This was not the first time UE has been made available for sale. UE had previously been in talks with Charoen Sirivadhanabhakdi, the major shareholder of Frasers Centrepoint (FCL) and Thai Beverage PCL.

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