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Revisions

United Engineers says strategic review still ongoing

Update

United Engineers says strategic review still ongoing

Gwyneth Yeo Published on Thu, Jan 05, 2017 / 7:03 PM GMT+8

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SINGAPORE (Jan 5): United Engineers says that the strategic review by OCBC Bank and Great Eastern Holdings of their shareholdings in UE and WBL Corporation is still ongoing, even as OCBC and GE announced on Thursday that they have jointly appointed Credit Suisse Singapore as their financial advisor.

(See also: United Engineers said to seek bids for century-old company)

This was in response to the query from the Singapore Exchange in relation to the unusual price movements of UE’s shares on Thursday.

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