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The deal for the property group could be announced this month. The century-old Singapore property group United Engineers may have just found its buyer. Bloomberg Markets reported that United Engineers ...
The news on OCBC's potential disposal of United Engineers Ltd. (UE) has hit the media once again, piquing the interest of the developers who would willingly take the responsibility of taking over the the building and construction group. According to a report by DBS Vickers Securities, UE's business is now more streamlined after the disposal of its non core business segments. "Now that UE is looking more like a property company, we believe it is an attractive acquisition target for property developers and/or property funds that are looking to acquire a sizeable portfolio with substantial recurring income in Singapore," the report said.
United Engineers has announced that the group and its wholly-owned subsidiary, UE Support Services, have disposed their stakes of 98 percent and 1.2 percent respectively in PT United Engineers Indonesia ...