United Engineers

[InvestArk]

Short term Play : Probably achievable. (market to close the discount gap) Long term wise: Avoid this counter like plague as the management is rotten ( they would probably destroy shareholder value as and when OCBC deems fit). If one would to follow warren buffet's principles closely, he would probably avoid it entirely as its management is not the kind which he envisages a long term relationship with. If youre Ben Gra's followers then this might be a good trade.

[LionFlyer]

I won't go as far as to say that the management is rotten. We have plenty of examples of truly 'rotten' management on SGX going no further than the Blumont, Asiason, LionGold saga of last year.

That UE has a close relationship with OCBC and by that definition, the Lee family is a cost of doing business in Singapore. This is by no means the only company that operates in this manner.

[InvestArk]

I won't go as far as to say that the management is rotten. We have plenty of examples of truly 'rotten' management on SGX going no further than the Blumont, Asiason, LionGold saga of last year.

That UE has a close relationship with OCBC and by that definition, the Lee family is a cost of doing business in Singapore. This is by no means the only company that operates in this manner.

Fair enough , i shall retract my previous description of their management. But nevertheless from the recent episode we can see that te management is merely a pawn ultized by Ocbc to operate in a way which is in the favor of its parent( by any means necessary ). If anything else, probably buying the parent would be a better approach if good value presents itself.

[CityFarmer]

I won't go as far as to say that the management is rotten. We have plenty of examples of truly 'rotten' management on SGX going no further than the Blumont, Asiason, LionGold saga of last year.

That UE has a close relationship with OCBC and by that definition, the Lee family is a cost of doing business in Singapore. This is by no means the only company that operates in this manner.

Fair enough , i shall retract my previous description of their management. But nevertheless from the recent episode we can see that te management is merely a pawn ultized by Ocbc to operate in a way which is in the favor of its parent( by any means necessary ). If anything else, probably buying the parent would be a better approach if good value presents itself.

The management is mandated to maximize shareholders' interest.

I always sceptical on the statement of the management should focuses on OPMI's, rather than the major shareholders' interests.

(not vested, but sharing a view)

[LionFlyer]

Fair enough , i shall retract my previous description of their management. But nevertheless from the recent episode we can see that te management is merely a pawn ultized by Ocbc to operate in a way which is in the favor of its parent( by any means necessary ). If anything else, probably buying the parent would be a better approach if good value presents itself.

I think you brought up a good point. My SG companies operating in such a matter and when I first saw your post, the first company and person that came to mind is Haw Par and Wee Chor Yaw. He has his fingers in many pies (UIC, SingLand, UOL, UOB) to further his own goals. Legally, there is nothing wrong, but as investors, it will be an intrinsic risk.

[egghead]

If anything else, probably buying the parent would be a better approach if good value presents itself.

In UE's case, buying the child UE E&C was a much better buy.

[bliss88]

Hot off the press. Announcement just made. Anyone got any news as to who is interested in UE E&C?

The Board of Directors of United Engineers Limited (the “Company”) refers to the
announcement made on 24 March 2014 by its subsidiary, UE E&C Ltd. (“UE E&C”) in relation
to the query received by UE E&C from the Singapore Exchange Securities Trading Limited
regarding the unusual price movements in the shares of UE E&C.

The Company wishes to inform shareholders that the Company has been approached by
parties in connection with a possible transaction involving its shares in UE E&C, which may or
may not lead to a general offer for the shares of UE E&C. The Company is in ongoing
discussions with a third party and no binding agreement has been reached. There is no
assurance or certainty that these discussions will result in any transaction.
The Company has appointed Oversea-Chinese Banking Corporation Limited as its financial
advisor in connection with the possible transaction.

The Company also wishes to inform its shareholders that it continually reviews strategic
options to enhance shareholder value and from time to time, the Company receives
expressions of interest to acquire certain assets held by it.
The Company will, in compliance with the applicable rules (including the Corporate Disclosure
Policy of the SGX-ST Listing Manual), make the relevant disclosures (if required) at the
appropriate time.

Shareholders are therefore advised to refrain from taking any action in respect of their shares
in the Company which may be prejudicial to their interests, and to exercise caution when
dealing or trading in the shares of the Company.

BY ORDER OF THE BOARD
Heng Fook Pyng, Jeslyn
Company Secretary
24 March 2014

[pianist]

if ue e&c got taken off, I think ue must as well change its name to united land or united holdings? hehe

[DP28]

Looking good. all the developer stocks are finally extracting value

[ngcheeki]

Impressive sale of 44 units in March 2014 but probably due to reduce in price. $694 psf for the lowest price in the month.

March 2014 Eight Riversuites
Total Number of units: 862
Cumulative Units Launched to-date: 862
Cumulative Units Sold to-date: 657
Cumulative Units Launched but Unsold: 205
Median Price ($psf): $1,109
Units Sold in the Month: 44
Percentage sold: 76.22%

Vested