Overseas Union Enterprise (OUE) has secured over 77 per cent of the building's office net lettable area for OUE Bayfront. The group has also refurbished the former Change Alley Aerial Plaza Tower and Change Alley Link Bridge, renaming them OUE Tower and OUE Link respectively. Net lettable area have been fully taken up. In a press release yesterday, OUE unveiled new tenants at OUE Bayfront include...
Overseas Union Enterprise (OUE)
Mainboard-listed Overseas Union Enterprise has reported at 23 per cent jump in its net profit for its first quarter, at S$227.6 million. This was boosted by a fair value gain of around S$249 million, after it obtained a Temporary Occupancy Permit for OUE Bayfront. Revenue for the first quarter grew by 42.2 per cent to S$68 million. Looking ahead, OUE said the positive economic outlook and projected...
Overseas Union Enterprises (OUE) said it plans to buy LCH Hotels, which owns the 320-room Crowne Plaza Changi Airport, for S$224.5 million. OUE will also settle a shareholder loan as well as debt of S$68.5 million. It said the proposed acquisition will expand the earnings base of the company's portfolio of hospitality assets, particularly in light of the group's competitive presence in Singapore's robust...
Mainboard-listed Overseas Union Enterprise (OUE) has turned a full-year net profit of S$777.2 million. This is a reversal from a net loss of S$93.4 million in 2009. The firm said the better performance is on the back of a 57 per cent increase in its full-year revenue to S$215.6 million. It added that this is driven by higher contributions from its hospitality and retail divisions, while rental income...
Overseas Union Enterprise (OUE) on Friday said its upcoming commercial project at 50 Collyer Quay has to date achieved close to 60 per cent occupancy. Some of its key tenants include Merrill Lynch International Bank, Allen & Overy LLP and Citrix Systems Singapore. The developer also said that it has decided to name the premium Grade A office tower located in the Marina Bay area as "OUE Bayfront". Its...
Overseas Union Enterprise (OUE) has bought DBS Towers One and Two for nearly S$871 million. DBS Towers, with a 99-year lease, is located at Shenton Way in the heart of the central business district. DBS Tower One was built in 1975 and was then the tallest building in Singapore and the first to incorporate a covered walkway around the entire city block. Together with DBS Tower Two, the 37-storey...
Mainboard-listed property and hospitality player Overseas Union Enterprise has secured a S$425 million-term loan facility from OCBC bank. OUE, through its subsidiary Cove Development, will use the loan to finance the development and cost of construction of a property at Leonie Hill Road. In addition, OCBC has also made available to Cove an interest rate swap facility for a notional amount up to S$375...
Mainboard-listed property and hotel company Overseas Union Enterprise has scrapped plans for a convertible bond issue, citing current market conditions. Last month, OUE had proposed to issue up to S$200 million dollars of notes due in 2015. The notes would have been convertible into new ordinary shares. In a stock exchange filing Tuesday, OUE said its controlling shareholder, Indonesia's Lippo Group,...
Mainboard-listed property and hospitality player, Overseas Union Enterprise, is proposing to issue up to S$200 million of notes due in 2015. The notes are convertible into new ordinary shares. OUE says the issue size and pricing will be determined after a book-building exercise. The notes will be offered to institutional or accredited investors in Singapore, qualified institutional buyers in the US and...
LIPPO Group has positioned itself in a pretty sweet spot by buying out ex-partner Ananda Krishnan's stake in Overseas Union Enterprise (OUE), and upping its hold on the property company to 88.52 per cent. With the deal, it has just enough interest to effectively dictate OUE's direction - and also all the time it needs to decide whether to delist the latter, or turn it into a stockmarket darling. For now,...