United Engineers

[Behappyalways]

Thanks for sharing. I remember UE E&C share price was around $1.20 when UE got approached by the original party. So probably they are offering at least $1.20 which UE 'rejected'.

i) On the question of the status of UE E&C potential corporate action disclosed to SGX, chairman said that the original offer has been withdrawn only for CFO to add that the board continues to evaluate other offers that emerged. So deal or no deal... your guess is as good as theirs...

[greengiraffe]

http://infopub.sgx.com/FileOpen/MFLEX_Q2...eID=295117

MFlex is one of the soar fingers of the enlarged UE... given the ongoing restructuring of the global electronics industry and the flowon impact to the global PCB sector, a resolution will not be forthcoming anytime soon...

[greengiraffe]

http://infopub.sgx.com/FileOpen/Q1_2014A...eID=297268

UE is OCBC's property company in the making - will take a long time to become another UOL if they can manage to read the future property cycle correctly.

For the time being, the integration of odd bed partner, WBL, will continue to drag UE along. Paid so much for a larger company that lacks focus and fortunate enough to edge out 3% attributable earnings growth.

Even for an asset play - wild imaginations will be required to keep dreaming of more value creation at current share price.

Odd Lot Vested
GG

[SLC81]

They took so much debt to pay for underperforming asset. Interest incurred for this quarter alone is 16 mils.

[greengiraffe]

No worries, they have a rock solid backer in OCBC/GE/Lee Family...

They took so much debt to pay for underperforming asset. Interest incurred for this quarter alone is 16 mils.

[pianist]

Home News Business

2 suitors for UE's Wearnes Automotive

[greengiraffe]

http://www.businesstimes.com.sg/premium/...s-20140624

PUBLISHED JUNE 24, 2014
Wearnes auto unit likely to get 4 bids
Bidders said to be Swire Pacific, M'sian car distributor, OUE, Al-Futtaim Group
BYSAMUEL EE
samuelee@sph.com.sg

Prestigious franchises: UE, which bought Wearnes last year, is understood to be seeking as much as $450 million for the automotive division. - ST FILE PHOTO
THE four parties eyeing the Wearnes group's automotive business are likely to submit their bids this week.
The interested bidders are said to be Swire Pacific, OUE, a Malaysian car distributor and Al-Futtaim Group.
The last party only threw its hat into the ring recently but is seen to be the one most able to pay United Engineers' asking price.
UE, which bought Wearnes for a total of almost $1 billion last May, is understood to be seeking as much as $450 million for the automotive division, which represents 12 brands in six Asian countries. The amount includes the stocks, infrastructure and land that are held by Wearnes Automotive.

[Behappyalways]

not vested.

United Engineers (RD▼, TP:S$2.22▲) - Positives fully valued
http://sgx.i3investor.com/servlets/ptres/6652.jsp

[greengiraffe]

http://www.businesstimes.com.sg/premium/...2-20140815

PUBLISHED AUGUST 15, 2014
Project revenue recognition quadruples UE's revenue in Q2
BYMICHELLE QUAH
michquah@sph.com.sg @MichelleQuahBT

PROPERTY, engineering and construction group United Engineers (UE) has reported a quadrupling of its quarterly revenue, thanks in large part to it being able to recognise revenue from several properties.
UE said yesterday that its revenue for the quarter ended June 30, 2014 jumped to S$1.22 billion from S$303.39 million the year before.
This was due to the group being able to fully recognise revenue from its development Austville Residences, which obtained its Temporary Occupation Permit (TOP) during the quarter, in accordance with the completion-of-construction accounting method. The jump in revenue was also thanks to progressive revenue recognition from the sales of another development, Eight Riversuites.
UE said the consolidation of WBL Group's revenue for the entire quarter - as opposed to just a month of it, in the year-ago period - also contributed to UE's higher revenue.

[egghead]

SGX is quite fast today. From the time UE price starting to surge to the query and trading halt - all within 2 hours. Wonder what announcement will come out...