United Industrial Corporation (UIC) and its concert partners have raised their stake in Singapore Land to 97.27 per cent at the close of its takeover offer on Friday. This means UIC can now take the mainboard-listed firm private. Under the regulations, UIC needs SingLand's public float to fall below 10 per cent before it can delist the company from the Singapore Exchange (SGX). In a late statement on...
United Industrial Corporation (UIC)
United Industrial Corp (UIC) has crossed the 90 per cent shareholding level needed to de-list Singapore Land (SingLand) from the Singapore Exchange, according to a disclosure statement late on Wednesday. UIC, a property and investment firm whose major shareholders include Singapore banker Wee Cho Yaw and Philippine tycoon John Gokongwei, now controls 90.15 per cent of SingLand. SingLand's properties...
Minority shareholders of Singapore property group SingLand should accept the S$8.40 a share offer by United Industrial Corporation (UIC) as the price is fair and there is a risk that they could end up holding shares in an unlisted firm, independent financial adviser ANZ said on Monday. They can, alternatively, sell their SingLand shares on the open market since the shares are currently trading well...
United Industrial Corporation (UIC) has made a formal offer to take mainboard-listed Singapore Land (SingLand) private. UIC announced last month that it wanted to buy over the remaining 19.64 per cent of shares in SingLand that it did not already own. The deal is valued at S$761.7 million. UIC is offering to pay S$9.40 for each SingLand share. It said that buying out minority shareholders will...
The majority shareholder of Singapore Land (SingLand) is offering to take the company private by buying the remaining 19.64 per cent of shares in a deal valued at S$761.7 million. SingLand is one of Singapore's largest landlords. Its properties include Singapore Land Tower and Clifford Centre in the heart of the central business district, SGX Centre which houses the Singapore Stock Exchange, and the...
Property giant United Industrial Corp (UIC) on Friday reported annual net profit doubled even as revenue fell, helped by a surge in fair value gains on the group’s investment properties. For the year ended Dec 31, UIC earned S$391.6 million, including a S$247.3 million revaluation gain, while revenue slumped 12 per cent to S$711.5 million. Turnover fell mainly due to lower revenue from hotel operations,...
United Industrial Corporation (UIC) has reported a 23 per cent year-on-year increase in net profit to S$136.7 million for the second quarter ended June 30. The company said it posted a fair value gain of S$147.8 million to its income statement for the quarter, based on valuations by independent professional valuers. The valuations were for investment properties held by subsidiary companies. Net profit...
Mainboard-listed United Industrial Corporation (UIC) plans to redevelop the UIC Building at 5 Shenton Way. The company has paid an estimated development charge of S$160.1 million to the Urban Redevelopment Authority for the proposed redevelopment. This is based on a 60 per cent residential and 40 per cent commercial mix with a gross floor area of 926,589 square feet (86,083 square metres). UIC said the...
Singapore-listed United Industrial Corporation, UIC, has reported a net profit of S$139 million for the first half of the year ended June. This overturns the loss of S$178 million in the same period last year. Its revenue rose 18 per cent on year to S$553 million. Meanwhile, the group has posted a second quarter net profit of S$79 million dollars. This overturns the loss of S$252 million dollars in the...
Mainboard-listed United Industrial on Friday said its first-quarter net profit fell 19 per cent on-year to S$59.5 million. But its revenue for the three months that ended March 31 rose 34 per cent to S$261.5 million. United Industrial said the increase was mainly due to higher sales of trading properties and higher revenue from hotel operations. Sales of trading properties rose 75 per cent to S$141.4...