United Engineers   

UE building up!

when will this end ? :)

lglg666      ( Date: 06-Jun-2017 11:46) Posted: Noticed that this morning trading pattern is the opposite of yesterday.....opened and continued to trade downwards till $2.78 then did a small recovery back to $2.80 level but the price is generally weak. Volume is at a decent level.

 

Noticed that this morning trading pattern is the opposite of yesterday.....opened and continued to trade downwards till $2.78 then did a small recovery back to $2.80 level but the price is generally weak. Volume is at a decent level.

 

Based on OCBC & Great Eastern joint annoucement, The acquisition is for both WBL AND UEL right? UEL is the parent of WBL corp but they are separate entities but sold together as a combination am I right? Correct me if Im wrong. So that means the buyer must give a high bid as they are buying a combination? I read past info that UEL paid 4.50 per share of WBL corp up from 4.15 per share? Thoughts?

 

Hmmm wondering how's the discussion going. I believe perennial is not the only one. If they change their mind its end of game. Ocbc probably more cautious now. May be in talks with 2 to 4 finalists. Bloomberg said ocbc hand picked perennial though joint statement didnt say. Bloomberg said kkr has been edged out. Then no mention of samling, ascendas-singbridge, mulpha and the other companies who bidded but not mentioned?

 

I think the bidders already seen this coming and have a set a price to close at. Otherwise trading halt already.

lglg666      ( Date: 02-Jun-2017 10:02) Posted: Agreed.....they better get the deal confirmed or end up paying more for it ( like shooting their own feet ) becoz as the premium narrowed, expectations increase. joshlai86      ( Date: 02-Jun-2017 09:14) Posted: share price creeping up. Perennial need to offer soon if not the offer price premium would narrow.

 

Agreed.....they better get the deal confirmed or end up paying more for it ( like shooting their own feet ) becoz as the premium narrowed, expectations increase.

joshlai86      ( Date: 02-Jun-2017 09:14) Posted: share price creeping up. Perennial need to offer soon if not the offer price premium would narrow.

 

Is the halt coming ?

 

share price creeping up. Perennial need to offer soon if not the offer price premium would narrow. 

 

Bloomberg corrected its article. The bidder was haiyi holdings, majority shareholder of singhaiyi.

 

Josh, Sunghaiyi and Ascendas-singbridge are so different and far apart. How can mix up? Lol. They even sound / spelling different. Ascendas-Singbridge are backed by Temasek. Its only a matter of who gives high bid. Rich doesnt mean will give strong bid. Maybe they (the ones who lost?) just think that UEL isnt worth that much or something. Let say UEL is worth 1.8 bil now, they will only put in a bid of 2.0 even if they have the money? Unless they want it, yet may not have the finances but still bid high and wiling to take loans thus put in figure of $2.2 bil or somrthing? Or to be stronger, form consortium lor. That is what Perennial done.

joshlai86      ( Date: 02-Jun-2017 01:17) Posted: Thanks for the source. My bad. Maybe they mix up singhaiyi with ascendas sing bridge? I guess it's up to individual how you want to receive the piece of news. So far my experience with bloomberg sources are quite good. Eg. Glp when CIC was first rumoured in Nov. Cwt 1hr before halt, financing banks in the offer were reported.

 

Thanks for the source. My bad. Maybe they mix up singhaiyi with ascendas sing bridge? I guess it's up to individual how you want to receive the piece of news. So far my experience with bloomberg sources are quite good. Eg. Glp when CIC was first rumoured in Nov. Cwt 1hr before halt, financing banks in the offer were reported.

 

http://www.businesstimes.com.sg/companies-markets/ocbc-great-eastern-evaluating-proposals-for-united-engineers-wbl#Amendment note

joshlai86      ( Date: 01-Jun-2017 22:20) Posted: I didn't see the news of singhaiyi clarifying it was not in the bid. Care to share the source? MichaelSchenker      ( Date: 01-Jun-2017 19:57) Posted: It was never about " even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable" The fact is, Bloomberg reported that SingHaiyi was in the bidding process.  But SingHaiyi clarified it has never been involved in the bidding process. So, it is indeed  Bloomberg is unreliable for this report, contrary to what you implied.

 

This was reported by SPH ..." Amendment: In an earlier version, we had cited a Bloomberg report saying that SingHaiyi is in the bidding process for United Engineers. SingHaiyi has clarified that it has never been involved in the bidding process."

​ It was a mistake reporting Singhaiyi earlier and actually they are NOT involved.

joshlai86      ( Date: 01-Jun-2017 22:20) Posted: I didn't see the news of singhaiyi clarifying it was not in the bid. Care to share the source? MichaelSchenker      ( Date: 01-Jun-2017 19:57) Posted: It was never about " even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable" The fact is, Bloomberg reported that SingHaiyi was in the bidding process.  But SingHaiyi clarified it has never been involved in the bidding process. So, it is indeed  Bloomberg is unreliable for this report, contrary to what you implied.

 

I didn't see the news of singhaiyi clarifying it was not in the bid. Care to share the source?

MichaelSchenker      ( Date: 01-Jun-2017 19:57) Posted: It was never about " even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable" The fact is, Bloomberg reported that SingHaiyi was in the bidding process.  But SingHaiyi clarified it has never been involved in the bidding process. So, it is indeed  Bloomberg is unreliable for this report, contrary to what you implied.   joshlai86      ( Date: 01-Jun-2017 17:18) Posted: Hi, just want to add that these information released are never official. We can' t verify the authenticity but only trust the Bloomberg person' s contact. So even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable, but it also doesnt mean it is reliable. The info leaked could just be the key points, which is perrenial reaching final talks. that said, there is no smoke without fire. and markets move becuase they do treat these news as quite reliable sources.

 

Tom dick and harry creating hype lor. Perhaps to throw shade or to curry favour? Or what? I think its really unprofessional and unthinkable that people can anyhow throw names inside. For commotion or get it talk of the town?

MichaelSchenker      ( Date: 01-Jun-2017 19:57) Posted: It was never about " even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable" The fact is, Bloomberg reported that SingHaiyi was in the bidding process.  But SingHaiyi clarified it has never been involved in the bidding process. So, it is indeed  Bloomberg is unreliable for this report, contrary to what you implied.   joshlai86      ( Date: 01-Jun-2017 17:18) Posted: Hi, just want to add that these information released are never official. We can' t verify the authenticity but only trust the Bloomberg person' s contact. So even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable, but it also doesnt mean it is reliable. The info leaked could just be the key points, which is perrenial reaching final talks. that said, there is no smoke without fire. and markets move becuase they do treat these news as quite reliable sources.

 

It was never about " even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable"

The fact is, Bloomberg reported that SingHaiyi was in the bidding process.  But SingHaiyi clarified it has never been involved in the bidding process.
So, it is indeed  Bloomberg is unreliable for this report, contrary to what you implied.
 

joshlai86      ( Date: 01-Jun-2017 17:18) Posted: Hi, just want to add that these information released are never official. We can' t verify the authenticity but only trust the Bloomberg person' s contact. So even though Singhai wasn' t mentioned, that doesnt mean the info is not reliable, but it also doesnt mean it is reliable. The info leaked could just be the key points, which is perrenial reaching final talks. that said, there is no smoke without fire. and markets move becuase they do treat these news as quite reliable sources.

 

If Perennial is preferred and if someone wants to give a higher price, what price will that be? As no one will know what each party bidded. Imagine New World Development coming in to bid or Blackrock. That might heat up competition.

joshlai86      ( Date: 01-Jun-2017 17:39) Posted: I believe they are talking to more than one. But the news here is that they have perennial in mind and are in advanced talks with them to close the deal. No smoke no fire. The other bidders can still come in shld the talks with perennial collapse. But once it's agreed and ocbc tender their shares,it's hard for another bidder to then come in and offer a higher price.

 

I believe they are talking to more than one. But the news here is that they have perennial in mind and are in advanced talks with them to close the deal. No smoke no fire. The other bidders can still come in shld the talks with perennial collapse. But once it's agreed and ocbc tender their shares,it's hard for another bidder to then come in and offer a higher price.

 

Ya lor. You are right. Ocbc ould be looking at more than 1 bid and could be in talks with more than 1 firm

joshlai86      ( Date: 01-Jun-2017 17:21) Posted: OCBC would not single out anyone until the offer is out. They have to keep their cards close to their chest until a binding offer comes in. By then, markets would have moved and everything priced in. So yes, nothing is confirmed but just unofficial news leaked. When news is confirmed, there' s relaly nothing left on the table. MrSingaporean      ( Date: 01-Jun-2017 17:18) Posted: Yes. That's why I said cant really believe till ocbc singles out or points out a company, which till now, they didnt. Singhaiyi was nvr in the bid. However I heard that other international firms backed by billionaires have also submitted final bids. Billionaire that has at least 5 bil usd individually based on forbes.

 

OCBC would not single out anyone until the offer is out. They have to keep their cards close to their chest until a binding offer comes in. By then, markets would have moved and everything priced in.
So yes, nothing is confirmed but just unofficial news leaked. When news is confirmed, there' s relaly nothing left on the table.

MrSingaporean      ( Date: 01-Jun-2017 17:18) Posted: Yes. That's why I said cant really believe till ocbc singles out or points out a company, which till now, they didnt. Singhaiyi was nvr in the bid. However I heard that other international firms backed by billionaires have also submitted final bids. Billionaire that has at least 5 bil usd individually based on forbes. MichaelSchenker      ( Date: 01-Jun-2017 16:48) Posted: It was clarified that SingHaiyi was never involved.  Makes me me wonder if the information leaked or officially announced to the media was properly regulated. Any Tom, Dick, Mary can be a spokesperson.