{"id":60606,"date":"2017-07-13T09:30:14","date_gmt":"2017-07-13T02:30:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-perennial-to-make-united-engineers-offer\/"},"modified":"2017-07-13T11:17:32","modified_gmt":"2017-07-13T04:17:32","slug":"yanlord-perennial-to-make-united-engineers-offer","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-perennial-to-make-united-engineers-offer\/","title":{"rendered":"Yanlord, Perennial to make United Engineers offer"},"content":{"rendered":"


\nUnited Engineers owns a large portfolio of properties including shopping centres, hotels and condominiums. (Photo: Wikimedia Commons)
\nAfter securing clarifications on the procedures for making a simultaneous bid for two companies from Singapore\u2019s takeover council, a consortium including China-based developer Yanlord Land Group and Perennial Real Estate Holdings is looking to announce an agreement to acquire the stakes of Oversea-Chinese Banking Corp. in United Engineers as well as its WBL Corp. subsidiary, reported Bloomberg citing sources with knowledge on the matter.
\nThereafter, the group plans to make an offer for the rest of United Engineers, said the sources, who did not want to be identified.
\nShares of Yanlord, Perennial and United Engineers were halted from Singapore trading on Wednesday (12 July), pending announcements.
\nAn agreement would cap OCBC\u2019s years-long effort to offload its stake in United Engineers, whose properties include mixed-used development UE BizHub City and shopping centres such as Rochester Mall.
\n\u201cInvestment in this portfolio allows someone to have a strong, operational platform in the highly competitive and well-capitalised Singapore market,\u201d said Cushman & Wakefield regional executive director of capital markets Priyaranjan Kumar.
\n\u201cThere is in place high quality, defensive cash flow, which can be improved through active asset management.\u201d
\nMeanwhile, OCBC and its insurance unit revealed Wednesday that they are in the final stages of discussion for the sale of their combined stakes at United Engineers and WBL.
\nUnder Singapore rules, acquiring their stakes would lead to a mandatory takeover offer for United Engineers.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Yanlord, Perennial to make United Engineers offer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

United Engineers owns a large portfolio of properties including shopping centres, hotels and condominiums. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-60606","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fLw","jetpack-related-posts":[{"id":107209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-land-remains-bullish-despite-dismal-q1-results\/","url_meta":{"origin":60606,"position":0},"title":"Yanlord Land remains bullish despite dismal Q1 results","date":"May 17, 2019","format":false,"excerpt":"\r OCBC Investment Research still expects to see an \u201cimprovement for the rest of the financial year\u201d, despite a fall in gross revenue and profit.\u00a0 Yanlord Land Group had a disappointing start as gross revenue and gross profit fell 49.6 percent and 61.4 percent year-on-year in the first quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56566,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/united-engineers-picked-perennial-for-final-talks-on-buyout\/","url_meta":{"origin":60606,"position":1},"title":"United Engineers picked Perennial for final talks on buyout","date":"June 1, 2017","format":false,"excerpt":"\r \u00a0 Edging out other suitors including SingHaiyi Group Ltd and KKR & Co., Perennial Real Estate Holdings Ltd is said to have been chosen by the largest shareholders of United Engineers Ltd to acquire the property group, reported Bloomberg citing people with knowledge of the matter. In fact, an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":60606,"position":2},"title":"La Ville condo relaunched with lower asking price of $140.6m","date":"October 10, 2018","format":false,"excerpt":"\r La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr, or $1,361 psf ppr after taking into account the 10 percent bonus balcony space. A development charge of about $7.2 million is payable as well. Marketing agent JLL revealed on Tuesday (9 Oct) that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tulip-garden-collective-sale-successfully-completed\/","url_meta":{"origin":60606,"position":3},"title":"Tulip Garden collective sale successfully completed","date":"February 4, 2019","format":false,"excerpt":"\r The freehold development along Farrer Road was sold for a whopping $906.9 million in 2018. (Photo: Colliers International) The $906.9 million sale of Tulip Garden to Asia Radiant was successfully completed on 31 January 2019, revealed Colliers International. Asia Radiant is jointly held by property developers Yanlord Land Group\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sumang-walk-ec-site-attracts-17-bids\/","url_meta":{"origin":60606,"position":4},"title":"Sumang Walk EC site attracts 17 bids","date":"February 27, 2018","format":false,"excerpt":"\r Map showing the location of the EC site at Sumang Walk. Source: HDB The tender exercise for an executive condominium (EC) site at Sumang Walk in Punggol closed on Tuesday (27 Feb) after attracting 17 bids, said the Housing and Development Board (HDB). The top bid of $509.37 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-real-estate-investment-market-active-in-q2-colliers\/","url_meta":{"origin":60606,"position":5},"title":"Singapore real estate investment market active in Q2: Colliers","date":"July 17, 2018","format":false,"excerpt":"\r Singapore\u2019s property investment market was active in the second quarter, with residential sites offered under the Government Land Sales (GLS) programme and existing private condominiums launched for collective sales by unit owners attracting robust demand from both local and foreign developers, according to a new report from Colliers International.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/60606"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=60606"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/60606\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=60606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=60606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=60606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}