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United Engineers

The GPO by YP already lapsed and there is no restcition for YP to buy at any price , but it seems YP will only want to buy at max 2.60 . Coming Oct, YP can have another new GO and probably , the offer prcie will be 2.60 or lower , depending on market sentiment. If YP buy at 2.62 , next GO prcie will have to be above 2.62 , as stipuilated by the by Law.

desmodeus ( Date: 17-Mar-2018 12:14) Posted:

YP is serving out the moratorium, can only buy up to $2.60. Minority shareholders can refrain from selling below that price.
They can only LL when Oxley and other interested game-spoliers buy above $2.60
If there is going to be any showdown, it should happen soon before the moratorium run-out

All these stories going on because OCBC threw away UE at a dirt cheap price. Many properirs may intested in UE. I agree going forward UE shate price sure ti rise. Correct me, if I am wrong.

moron101 ( Date: 16-Mar-2018 18:24) Posted:

They buy small lots daily.. To initiate a buy over again? I believe final price could hit 3.50 if more parties like oxley joining in the game..

serious ( Date: 08-Mar-2018 10:53) Posted:

YP also bought from open market on 05/03/18 . YP is fighting with oxley in buying more shares from open market .

They buy small lots daily.. To initiate a buy over again? I believe final price could hit 3.50 if more parties like oxley joining in the game..

serious ( Date: 08-Mar-2018 10:53) Posted:

YP also bought from open market on 05/03/18 . YP is fighting with oxley in buying more shares from open market .

UE is ready for rebound? Yanlord buying and Oxley
following. TP maybe S$3-20 per share.

We must get further support from Oxley And other shareholders to oppose resolution That are not in our interest.

To them is money come first! Don?t have any feeling about whether is 100 years old or elder generation did.

Nirmala1949 ( Date: 14-Mar-2018 07:48) Posted:

Why but why OCBC must have to do this to UE. 100 years old company sold at a sale price. Why OCBC you have to do this to us. You may not rest in peace.

All are crooks. Dont get carried away.

YP also bought from open market on 05/03/18 . YP is fighting with oxley in buying more shares from open market .

Oxley will have 2-3B of billings in 2018 . So money is not an issue .

alexchew ( Date: 05-Mar-2018 13:37) Posted:

Dreaming ah... so heavy leverage already, now still stuck so much money in this. No value creation definitely... they can afford to hold it but can oxley? The dividends they get from ue, enough to pay its interest for bonds?

serious ( Date: 04-Mar-2018 11:19) Posted:

Will Oxley make an offer for all UE shares ?

Dreaming ah... so heavy leverage already, now still stuck so much money in this. No value creation definitely... they can afford to hold it but can oxley? The dividends they get from ue, enough to pay its interest for bonds?

serious ( Date: 04-Mar-2018 11:19) Posted:

Will Oxley make an offer for all UE shares ?

Respect Oxley Ching for standing up against the Chinaman - not many Sinkies dare to defy the Chinaman.

serious ( Date: 24-Feb-2018 11:57) Posted:

YL Zhong is greedy and selfish , he must be very angry with the Oxley guys . Minorities in UE are lucky to hve a strong secong largest shareholder in UE . If all minorities rally behind Oxley , we cany kick this Zhong out of the managmenet .

smalliinv ( Date: 24-Feb-2018 09:09) Posted:

The UEL minority shareholder were disadvantaged almost twice.
First, OCBC made YL overpaid for WBL in exchange to get 33%+ majority shareholdership on the cheap of $2.6 per share. UEL is now stuck at this level because of that failed take over.
Second, now YL as majority shareholder - filled up the board to immediately recommend dipping into UEL Cash to fund buying OCBC and buy back YL' s own overpaid WBL shares.
Is it just me or do the forumer also see something is just not right?
I' m glad Oxley stood up for the minority shareholders. Hopefully Oxley can work with another whitehorse to unlock UEL value.

Why has OCBC done this to United Engineerd. Look at UOB all their group companies doing so well. OCBC has thrown away UE! They have only looked after their interest first.

Oxley bought another 381,700 shares on 28/02 . The battle is still on !

YL Zhong is greedy and selfish , he must be very angry with the Oxley guys . Minorities in UE are lucky to hve a strong secong largest shareholder in UE . If all minorities rally behind Oxley , we cany kick this Zhong out of the managmenet .

smalliinv ( Date: 24-Feb-2018 09:09) Posted:

The UEL minority shareholder were disadvantaged almost twice.
First, OCBC made YL overpaid for WBL in exchange to get 33%+ majority shareholdership on the cheap of $2.6 per share. UEL is now stuck at this level because of that failed take over.
Second, now YL as majority shareholder - filled up the board to immediately recommend dipping into UEL Cash to fund buying OCBC and buy back YL' s own overpaid WBL shares.
Is it just me or do the forumer also see something is just not right?
I' m glad Oxley stood up for the minority shareholders. Hopefully Oxley can work with another whitehorse to unlock UEL value.

The WBL deal was unfair to UE and thought was a done deal , but now turned out otherwise .

The UEL minority shareholder were disadvantaged almost twice.
First, OCBC made YL overpaid for WBL in exchange to get 33%+ majority shareholdership on the cheap of $2.6 per share. UEL is now stuck at this level because of that failed take over.
Second, now YL as majority shareholder - filled up the board to immediately recommend dipping into UEL Cash to fund buying OCBC and buy back YL' s own overpaid WBL shares.
Is it just me or do the forumer also see something is just not right?
I' m glad Oxley stood up for the minority shareholders. Hopefully Oxley can work with another whitehorse to unlock UEL value.

I like your positive outlook.

But looking at previous few trading sessions before the Halt does not suggest this.

Watch the pre-opening on Monday very closely. Must not blink!

serious ( Date: 24-Feb-2018 00:02) Posted:

This is definitely possitive to UE shareholders . Monday should gap up to 2.60 and above.

MichaelSchenker ( Date: 23-Feb-2018 19:01) Posted:

Read the last line of the article. Didn' t the writer realise UE is on Trading Halt today? LOL!

Oxley, UE shareholders block purchase of WBL shares from Yanlord Perennial
http://www.businesstimes.com.sg/companies-markets/oxley-ue-shareholders-block-purchase-of-wbl-shares-from-yanlord-perennial

Fri, Feb 23, 2018 - 6:29 PM

Marissa Lee [email protected]@MarissaLeeBT

IN A surprise turn of events, minority shareholders of United Engineers (UE), including property developer Oxley Holdings, have foiled a bid by UE' s new shareholder, Yanlord Perennial Investment (YPI), and UE' s former shareholder, OCBC, to sell their shares in WBL to UE.

Out of the 171.3 million UE shares that voted on the deal, 67.44 per cent rejected it.

Oxley has a 15 per cent stake in UE, or just over 95.7 million shares.

Oxley deputy CEO Low See Ching told The Business Times by phone: " Our board of directors requested us to appoint an independent corporate advisor to evaluate the deal as we own a substantial stake in UE.

" It took our advisor two weeks to assess the deal. They came out with a very comprehensive report that was tabled to the Oxley board to evaluate. The decision by the board was made yesterday night and the majority voted no. So we have to carry out that decision."

YPI has controlled the board of UE since late last year. It owns a 33.5 per cent stake in UE, which it purchased from the OCBC group and the OCBC Lee family for S$2.60 a share last July.

At the same time, YPI agreed to buy 10 per cent of WBL for S$2.07 a share. YPI also committed to acquire another 19.9 per cent of WBL from OCBC down the road.

In December, the new board of UE proposed that UE make a cash offer for WBL at the same price YPI had paid, " taking into account that certain WBL shareholders had publicly disclosed that they were willing to divest their shares" .

These interested person transactions required the approval of UE' s minority shareholders.

Last week, The Business Times questioned if UE was paying a fair price for WBL.

Although it' s not unusual for a large Singapore property company like UE to trade at 0.9 times book value, companies of a comparable size to WBL that develop properties in China trade at a mere 0.5 times price-to-NTA (net tangible assets).

At S$2.07 a share, UE would only receive a 21.6 per cent discount to WBL' s net asset value per share of S$2.64 at the end of last year.

Shares of United Engineers closed unchanged at S$2.56 on Friday.

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United Engineers