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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Oversea-Chinese Banking Corp. Limited    OCBC   SG1S04926220

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Group Led by Yanlord, Perennial Offers to Buy United Engineers

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07/13/2017 | 02:26pm CEST

By Saurabh Chaturvedi

SINGAPORE--A consortium led by Singapore-listed property developers Yanlord Land Group Ltd. (Z25.SG) and Perennial Real Estate Holdings Ltd. has offered to buy United Engineers Ltd. (U04.SG) and a stake in one of its subsidiaries.

The consortium, which also include a private investor, has agreed to buy a 33.5% stake in United Engineers from Oversea-Chinese Banking Corp (O39.SG) and the bank's insurance arm Great Eastern Holdings Ltd. (G07.SG), according to a joint statement issued by Yanlord and Perennial to the Singapore Exchange. This triggers mandatory offers for the remaining stake in United Engineers, a property company founded in 1865.

The consortium has acquired a 10.0% stake in United Engineers' unit WBL Corporation Ltd. and may additionally acquire another 19.9% stake in the firm.

The group's offers value 100% of United Engineers and 29.9% of WBL together at about S$1.83 billion (US$1.33 billion), the statement said.

Yanlord owns 49% of the consortium, while Perennial owns 45%. A private investor owns the remaining 6% stake.

Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com

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Financials ( SGD)
Sales 2017 9 117 M
EBIT 2017 4 776 M
Net income 2017 3 748 M
Debt 2017 -
Yield 2017 3,34%
P/E ratio 2017 12,38
P/E ratio 2018 11,18
Capi. / Sales 2017 5,08x
Capi. / Sales 2018 4,76x
Capitalization 46 299 M
Chart OVERSEA-CHINESE BANKING CO
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Oversea-Chinese Banking Co Technical Analysis Chart | OCBC | SG1S04926220 | 4-Traders
Technical analysis trends OVERSEA-CHINESE BANKING CO
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 10,7  SGD
Spread / Average Target -3,2%
EPS Revisions
Managers
NameTitle
Samuel Nag Tsien Group CEO & Non-Independent Executive Director
Sang Kuang Ooi Chairman
Wei Hong Ching Chief Operating Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Khiang Tong Lim Head-Group Operations & Technology
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