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401-420 of 1912
If extrapolate further, we have YP have 33% with little more (cant imagine who would give them when the market price is higher now) and the Oxley not far behind. Who will then be in control of the UE board. Yark back to the time when the WBL board have more or less equal partners in OCBC, Straits Trading and one fund cant remember who.
TigTig ( Date: 17-Aug-2017 21:26) Posted:
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His intentions are not as clear as we think they are. I think these businessmen will continue to deny until they think it' s the right time to showhand. No advantage for Ching to be upfront right now as it can make it more expensive to buy.
desmodeus ( Date: 17-Aug-2017 21:07) Posted:
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10.58% as of 14 aug.
does this present to you as just been passive investment
reckon by 29 aug closing, will cross at least 20% or maybe more
does this present to you as just been passive investment
reckon by 29 aug closing, will cross at least 20% or maybe more
Independent financial adviser SAC Capital views a takeover bid led by Perennial Real Estate and Yanlord Land as fair and reasonable
10.39%
They are running out of time to dispose their non core assets.
kirana ( Date: 13-Aug-2017 20:05) Posted:
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I also don' t understand why OC/GE sell at such price. But 1 thing for sure, such under-valued stock is attracting ppl buying in. I guess not just Oxley but some others are also waiting for long time holders to let go. But again, if we can hold for donkey years, there is not much different to hold it beyond the mandatory offer date end of the month.
kirana ( Date: 13-Aug-2017 20:05) Posted:
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I can' t fully understand why OCBC/GE let go at such price. There has to be some hidden reason.
as expected
non current assets - investment properties $1,908,549
current assets - properties held for sale $ 638,084
undervalued at curent price. It is even more laughable at $2.60.
non current assets - investment properties $1,908,549
current assets - properties held for sale $ 638,084
undervalued at curent price. It is even more laughable at $2.60.
http://www.businesstimes.com.sg/companies-markets/united-engineers-q2-profit-rises-303-on-revaluation-gains
UNITED Engineers Ltd (UEL) said on Friday its second-quarter net profit rose 303 per cent to S$45.3 million mainly due to revaluation gains from the group' s investment property assets.
The group said revenue increased 9 per cent to S$121.9 million in the three months ended June 30, 2017, mainly due to a pick-up in China property sales.
The revaluation gains came from a valuation dated June 30 on the group' s four properties in Singapore
Last month, a consortium led by Yanlord Land Group and Perennial Real Estate made a mandatory conditional cash offer for UEL at S$2.60 per share.
The consortium had acquired a 33.5 per cent stake in UEL at S$2.60 per share and a 10 per cent stake in WBL Corporation for S$2.07 per share. It has committed to buy another 19.9 per cent stake in WBL at a later date. The total purchase cost for these stakes is S$729.7 million.
At the offer prices, the consortium is valuing 100 per cent of UEL and 29.9 per cent of WBL at about S$1.83 billion.
United Engineers' Q2 profit rises 303% on revaluation gains
Friday, August 11, 2017 - 20:03
UNITED Engineers Ltd (UEL) said on Friday its second-quarter net profit rose 303 per cent to S$45.3 million mainly due to revaluation gains from the group' s investment property assets.
The group said revenue increased 9 per cent to S$121.9 million in the three months ended June 30, 2017, mainly due to a pick-up in China property sales.
The revaluation gains came from a valuation dated June 30 on the group' s four properties in Singapore
Last month, a consortium led by Yanlord Land Group and Perennial Real Estate made a mandatory conditional cash offer for UEL at S$2.60 per share.
The consortium had acquired a 33.5 per cent stake in UEL at S$2.60 per share and a 10 per cent stake in WBL Corporation for S$2.07 per share. It has committed to buy another 19.9 per cent stake in WBL at a later date. The total purchase cost for these stakes is S$729.7 million.
The move triggered a mandatory takeover for UEL.
At the offer prices, the consortium is valuing 100 per cent of UEL and 29.9 per cent of WBL at about S$1.83 billion.
Oops lol, read through that same announcement but missed out that line. o.O
hfjdhy ( Date: 06-Aug-2017 11:52) Posted:
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http://infopub.sgx.com/FileOpen/Oxley_UE.ashx?App=Announcement& FileID=465527
Information on UEL UEL is a company incorporated in Singapore and is listed on the Main Board of the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ). UEL and its subsidiaries have key business activities in property rental and hospitality, property development, engineering and distribution, as well as manufacturing. UEL has a portfolio of assets including investment assets which generate steady income. The Acquisition was undertaken by the Group as part of its investments in income generating assets, and is in line with the investment objective of the Company. The Company will not be making a competing offer for UEL.
Quite obvious when one does the solid homework and due diligence.
Information on UEL UEL is a company incorporated in Singapore and is listed on the Main Board of the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ). UEL and its subsidiaries have key business activities in property rental and hospitality, property development, engineering and distribution, as well as manufacturing. UEL has a portfolio of assets including investment assets which generate steady income. The Acquisition was undertaken by the Group as part of its investments in income generating assets, and is in line with the investment objective of the Company. The Company will not be making a competing offer for UEL.
Quite obvious when one does the solid homework and due diligence.
reaper123 ( Date: 06-Aug-2017 10:30) Posted:
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Can provide link to the announcement that shows they are not competing?? Looked through sgx announcement but cant find the on that states so
The offer price of UE is $2.60 but the market price yesterday was $2.74. Is it better to sell it in the market?
One can say one thing and do another. Keep your intention close to your chest.
At this rate, P&Y will not even cross the 50% sharholding to Consol UE revenue and P/L. Less than ideal project to undertake.
At this rate, P&Y will not even cross the 50% sharholding to Consol UE revenue and P/L. Less than ideal project to undertake.
hfjdhy ( Date: 05-Aug-2017 21:37) Posted:
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Not offer from Oxley. It was already in the announcement that they are not competing. It is pretty obvious what Oxley CEO wants to do. If he and his concert parties cross the 10% mark, they can stop Yanlord and Perennial from mandatory privatising United Engineers and have to revise their offer of S$2.60 per share, which is what Ching is doing....he is calling the bluff of Y& P to revise a better offer of S$2.60. I am not sure the T& C of the preference shares of UE that Y& P has bought but it zaps their funding to offer more than 2.60.
One thing Y& P can do is to wait out and see how long can Oxley hold as they issued corporate bonds and excess cash lying with no viable new acquisition, (might as well use S$120 million to buy a stake up to 7.11% of UE). Ching may have worked out the numbers and the proceeds from progress sale from Spore and UK properties can at least pay coupons to its notes.
As such, my point is the show and drama is not about another competitive offer but the current privatisation offer which may lapse because Y& P needs to pass 90% so as to mandatory acquire the rest of the shares
junction ( Date: 05-Aug-2017 10:24) Posted:
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Oxley gearing is infamous, however, it has been able to raise funds far beyond it' s networth.
This is a dangerous game Ching is playing, and given his past reputation for smelling deals, there is definitely a jewel he' s after. If the takeover deal falls through and UE price retreats, he' s in for some substantial losses. I' m watching also if Oxley' s really got their act together, as Oxley share price will move in tandem with UE for the short term.
This is a dangerous game Ching is playing, and given his past reputation for smelling deals, there is definitely a jewel he' s after. If the takeover deal falls through and UE price retreats, he' s in for some substantial losses. I' m watching also if Oxley' s really got their act together, as Oxley share price will move in tandem with UE for the short term.
junction ( Date: 05-Aug-2017 10:24) Posted:
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Oxley usually act in concert with a few parties for property deals. It' s gone a bit off the beaten track to grab UE shares.
The reason is possibly, there' s a jewel in UE that it' s after.
It doesn' t fit Oxley' s style to pump and dump, so my bet is the price will see a springup on Monday.
The reason is possibly, there' s a jewel in UE that it' s after.
It doesn' t fit Oxley' s style to pump and dump, so my bet is the price will see a springup on Monday.
Oxley has indicated in the same announcement it would NOT be a takeover!
Oxley has indicated in the same announcement it would NOT be a takeover!