UIC gets enough shares to take SingLand private

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 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 Marina Square shopping centre.

UIC held around 80 per cent of SingLand back in February when it made a bid to take full control of the listed property firm.

Source : Channel NewsAsia – 24 Apr 2014

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