UOL Group (UOL), the property firm controlled by United Overseas Bank chairman Wee Cho Yaw, has raised further its interest in United Industrial Corp (UIC). On Friday, wholly-owned subsidiary UOL Equity Investments bought 50,000 shares in UIC in the open market for S$2.40 each, raising UOL's interest in UIC to 42.024 per cent. The purchase comes two days after UOL boosted its stake in UIC to 42 per cent...
United Overseas Land (UOL)
Property developer UOL Group's third-quarter profit increased to S$124.7 million, up 18 per cent from a year earlier. The company's revenue for the quarter rose 7 per cent on-year to S$345.2 million. The increase was due to recognition of revenue from the sale of the group's development properties, as well as the improved performance of hotel operations, UOL said. UOL's hotel properties include the Pan...
UOL Group today announced a net attributable profit of $147.8 million for the second quarter ended 30 June 2010, compared to a loss of $20.1 million in 2Q09. The net attributable profit excluding fair value and other gains increased by 36% to $122.1 million as compared to 2Q09. For the first six months in 2010, its net attributable profit excluding fair value and other gains rose 43% to $205.7 million...
Property company UOL Group said its first quarter net profit fell 71 per cent to just over S$100 million. This was due mainly to negative goodwill on acquisition of interests in an associated company in the first quarter of last year. But the picture was more positive on the revenue end up 27 per cent to S$250 million due to the better performance of its property development, investments and hotel...
Property developer UOL Group on Tuesday said that its full-year profit nearly tripled to S$424.1 million. The good showing came on the back of a 12 per cent increase in revenue to S$1 billion. UOL said the increase was due mainly to higher income from property development and property investments. Such earnings helped to partially offset higher finance expenses. While there are still concerns over the...
Mainboard-listed UOL Group on Friday said its third-quarter net earnings rose 44 per cent on-year to S$105.6 million. This was on the back of a 21 per cent rise in revenue for the three months ended September to S$323.9 million. UOL said progressive recognition of revenue from development properties helped boost its turnover in the quarter. The company also recorded a higher share of profits from...
Current situation provides company with cheaper way of exploiting synergies DID United Overseas Land (UOL) really "fail" in its attempt to take over United Industrial Corporation (UIC)? Most market observers suspect that UOL was never really that serious with its general offer to buy over shares it did not already own. Instead, they felt the offer was more of a technical one. After all, it was mandatory...
The offer by United Overseas Land (UOL) for property group United Industrial Corporation (UIC) had lapsed. UIC shareholders refused to accept the S$1.20-per-share offer that was tabled by UOL. While it failed to achieve the required level of acceptances for an unconditional offer, UOL's direct and deemed interest in UIC had risen from about 30 per cent to 45 per cent, after purchases on the open...