United Engineers

Eyes on Oxley as Yanlord raises UE cash offer

Yanlord Land Group has raised its cash offer for United Engineers (UE) to S$2.70 per share, after scooping up 39.2 million shares or 6.15 per cent of UE in married trades done at the same price just before noon on Tuesday. The Business Times understands that the sellers are likely to be multiple accounts aggregated by a broker. Oxley Holdings, the only other shareholder in UE with a sizeable block of...

Yanlord makes new mandatory offer for United Engineers

China-based property developer Yanlord Land Group on Friday morning launched fresh mandatory offers for United Engineers (UE), in a deal valuing the latter at S$1.66 billion. Yanlord's wholly-owned subsidiary Yanlord Investment (Singapore) (YIS) is offering to acquire the ordinary and preference shares in the property, engineering and construction group at S$2.60 apiece in cash. This is the same as...

United Engineers posts 76% decline in Q2 net profit

Mainboard-listed United Engineers on Friday said its second-quarter net profit declined 76 per cent to S$7.4 million compared to the previous year. In a filing to the Singapore Exchange, the company said this was mainly due to an absence of profit contribution from property sales at The Rochester, which was completed in 2011. Higher operating expenses also weighed down the firm's bottomline. Meanwhile,...

United Engineers’ Q2 profit increases by 39% to S$33 million

United Engineers Ltd (UE) announced an year-on-year increase of 39 per cent in its second quarter net profit to S$33.4 million. This is up from S$24.1 million recorded for the quarter a year ago. Its revenue, however, registered a decrease of 13 per cent from S$184.9 million to S$160 million. UE said this is mainly due to lower profit recognition of revenue from property sales at Park Central @ AMK and...

UE wins land site on Bendemeer Road with S$543 million bid

A condominium land site located on Bendemeer Road/Whampoa East has been awarded to United Engineers Developments, which submitted the top bid of S$543 million or S$8,332.87 per sqm (psm) based on gross floor area (GFA) The 99-year leasehold land parcel, sized at 18,618 sqm or 200,404 sq ft, has a maximum permissible GFA of 65,163.9 sqm or 701,424 sq ft. The site, which went up for tender on Feb 23, can...

UE wins land site on Bendemeer Road with S$543 million bid

A condominium land site located on Bendemeer Road/Whampoa East has been awarded to United Engineers Developments, which submitted the top bid of S$543 million or S$8,332.87 per sqm (psm) based on gross floor area (GFA) The 99-year leasehold land parcel, sized at 18,618 sqm or 200,404 sq ft, has a maximum permissible GFA of 65,163.9 sqm or 701,424 sq ft. The site, which went up for tender on Feb 23, can...

United Engineers reports full-year net profit of S$186.2m

Mainboard-listed construction firm United Engineers on Tuesday said its net profit has jumped more than three-fold to S$186.2 million for the full year ended December 31. This compares to profits of S$52.2 million in 2009. The higher profit was on the back of a 28 per cent rise in revenue to S$901.4 million. United Engineers said revenue was mainly boosted by progressive revenue recognition from its...

United Engineers sells UE Print Media Hub for S$51m

Mainboard-listed construction firm, United Engineers said it has sold its industrial property, UE Print Media Hub, for S$51 million. The media hub is a five-storey industrial building located at 61 Tai Seng Avenue. It was developed and constructed by United Engineers. The building which received its temporary occupation permit in June 2007 has a net lettable area of nearly 255,000 square feet. It also...

United Engineers’ H1 net profit jumps over 200% to S$62.4m

United Engineers' net profit jumped by more than 200 per cent to S$62.4 million in the first half of the year. Its revenue also went up by 33 per cent to S$418.8 during the same period. Revenue from property development and leasing climbed 117 per cent to S$294.7 million in the first half of the year, while the second quarter for the same sector also surged 135 per cent to S$160.5 million. United...

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