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(Post 1 of 82) 06/14/1999.13:21:00 |
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Can anyone comments about this counter. Thank you. |
| (Post 2 of 82) 08/02/1999.17:01:00 |
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UE is currently trading at discount of more than 40% from its price, according to analysis report done in July. The prospect is suppose to be very promising as well. Why is the price still so low at $1.8? I notice that turnover for this counter is always within the range of 70lots or so. Pls comment. |
| (Post 3 of 82) 09/02/1999.11:17:00 |
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Added UE to my NEW portfolio yesterday after reading its latest financial results: NTA = S$3.87 (Last year= $5.20) EPS = S$0.047 (Last year= $0.022) Nothing spectacular, but my entry price at $1.75 a share should be worth holding on until DBS Land developes the nearby freehold land. The properties around Singapore River should continue to do well in the future in view of the government trying to make the City a more vibrant place to live in. |
| (Post 4 of 82) 09/02/1999.14:38:00 |
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I also got some a few days ago at $1.71. I also ask myself whether it is a good time to buy. Anyway, it is meant for the medium term. In addition, its substantial shareholder, OCBC, has sold 50 lots at an average price of $1.653 in the last week of August. It is worth monitoring whether it was doing it for its client or was divesting its holding. The charts look interesting.   But be warned that this is a slow counter with little transactions and is not suitable for contra. |
| (Post 5 of 82) 09/02/1999.15:05:00 |
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Wile, thanks for the colourful chart. This is a lot clearer to look at. Whoever sold that 50 lots probably was afraid that prices would fall below the long term support line drawn on your chart. The market decided otherwise after that time period. I think this long term support line should hold. It would become more costly to replace UE's existing buildings when metal costs go up. The rentals from the tenants would probably be adjusted after the initial two year period, thus providing consistent cashflow. Now it all depends on its engineering and trading activities to bring up that EPS to its shareholders. |
| (Post 6 of 82) 09/02/1999.18:31:00 |
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Coy announced today UNITED ENGINEERS LIMITED ANNOUNCEMENT - MATTERS RELATING TO SUBSIDIARIES - JOINT VENTURE COMPANY The Directors of United Engineers Limited ("UEL") are pleased to announce that United Engineers (Singapore) Private Limited ("UES"), a wholly-owned subsidiary of UEL, has taken up a 60% stake in the equity share capital of a joint-venture company known as PT UE-Sentosa. The remaining 40% stake is held by its Indonesian partner, PT Mitra Global Selaras. PT UE-Sentosa was formed to undertake engineering and construction projects in Indonesia, and has an initial authorised and paid-up capital of US$5,000,000 and US$1,250,000 respectively, divided into 5,000,000 and 1,250,000 ordinary shares of US$1 each. UES's investment was financed by internal funds. It is expected that PT UE-Sentosa will contribute to the future earnings of the UEL Group although it will have no material impact on the consolidated earnings per share or net tangible assets per share for the year ending 31 December 1999. None of the directors and substantial shareholders of UEL has any interest, direct or indirect, in the above transaction. Submitted by Miss Eileen Lim, Secretary on 02/09/1999 to the SES |
| (Post 7 of 82) 12/28/1999.23:33:00 |
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UE - Buy on weakness approx. $1.80(+/-).  |
| (Post 8 of 82) 02/15/2002.17:08:23 |
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UNITED ENGINEERS LIMITED The Directors of United Engineers Limited ("UEL") wish to announce that its wholly-owned subsidiary, McAlister and Company Limited ("McA"), has completed the Sale ("the Share Sale") to dispose of 580,000 ordinary shares ("the Shares") in the capital of Graphicom Pte Ltd ("Graphicom") to Mr Lok Lai ("Mr Lai") for a consideration of $1,350,000. The Shares comprise all the equity interest of McA in Graphicom and represents 53% of the issued share capital of Graphicom. The consideration was arrived at on a willing buyer and willing seller basis after taking into consideration the net tangible assets of Graphicom. Mr Lai is currently the owner of the remaining 522,002 shares in Graphicom's share capital as well as its Managing Director. Upon completion of the Sale, McA ceased to have any shares in Graphicom. Graphicom was operated as a joint venture company in Singapore between McA and Mr Lai to carry on business as graphic and media consultants, video and multimedia education courseware contents provider and theme park/museum designers. This divestment is in line with the Company's policy to continuously review its various business activities to strengthen its core businesses in engineering and major infrastructure projects, as well as newly-started e-commerce activities. It will not have any material impact on either the consolidated earnings per share or the net tangible assets per share for the current year. Other than Mr Lai who as the Managing Director and owner of the remaining shares of Graphicom is directly interested in the Share Sale, none of the directors and substantial shareholders of UEL has any interest, direct or indirect, in the above transaction. Submitted by Miss Eileen Lim, Secretary on 03/03/2000 to the SES |
| (Post 9 of 82) 03/15/2000.03:11:00 |
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UNITED ENGINEERS LIMITED We wish to inform that Delichem Pte Ltd ("Delichem Singapore"), a 70% owned subsidiary of McAlister and Company Limited ("McA"), itself a wholly-owned subsidiary of United Engineers Limited ("UEL"), has incorporated a wholly-owned subsidiary in Thailand know as "Delichem (Thailand) Company Limited" ("Delichem Thailand") with an initial authorised capital of 2.5 million Bahts (approximately S$110,000) comprising of 25,000 shares of 100 Bahts each. Delichem Singapore, a specialty chemical cum cleaning equipment fabrication company has developed cleaning solutions with proprietary technologies for the electronics industry. In Singapore it has a full-scale laboratory which undertakes continuous R&D in chemical formulation and system applications. In Malaysia, it has 2 well-established wholly-owned subsidiaries in Johor Bahru and Kuala Lumpur engaged in providing turnkey cleaning processes and water recovery systems. Delichem Thailand was incorporated as part of Delichem Singapore's expansion plans to better serve its customers in the electronics and metalworking industries. It will set up a plant in Chonburi, Thailand for the manufacture of highly-specialised cleaning systems equipment and the blending of specialty chemicals. The aforesaid incorporation of Delichem Thailand is not expected to have any significant impact on the net tangible assets or earnings per share of UEL for the current financial year. None of the Directors and substantial shareholders of the Company has any interest, direct or indirect, in this investment. Submitted by Miss Eileen Lim, Secretary on 14/03/2000 to the SES |
| (Post 10 of 82) 03/28/2000.19:08:00 |
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Is it confirmed that UE is proposing a 1 for 3 Bonus issue? |
| (Post 11 of 82) 03/29/2000.06:18:00 |
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United Engineers Singapore 1999 net profit pre-extra 17.58 mln sgd vs 5.66 United Engineers Ltd 1999 results: Net profit pre-extras - 17.585 mln sgd vs 5.661 mln Net profit - 12.455 mln sgd vs 6.149 mln Sales - 434.684 mln sgd vs 375.061 mln Opg profit - 48.930 mln sgd vs 40.170 mln EPS (pre-extras) - 11.4 cents vs 3.6 cents Final div - 3 cents, unchanged In a statement, the company said it expects a higher net profit in 2000, with all of its core busineses seen growing. It said sales rose 16 pct in 1999 due to the substantial increases from its three major core businesses of engineering and construction, manufacturing and equipment supply and healthcare services. In 1999, its engineering and construction division's operating profit doubled to 8.7 mln sgd on sales of 211.3 mln, while the manufacturing and equipment supply division's sales rose 42 pct to 82.9 mln for operating profit of 3.3 mln. United Engineers' healthcare and services arm United MediCorp Pte Ltd increased sales 10 pct to 98.3 mln sgd, with its operating profit rising 78 pct to 5.4 mln. The company said it recently decided to divest marginal activities of its subsidiaries except for its investment properties, which will be retained as long-term investment. Businesses that do not meet the targeted minimum rate of return on equity of 12 pct in the next 2-3 years will be sold, it said. As at end 1999, net borrowings stood at 230 mln sgd, down 16 pct from a year earlier. The company incurred a net extraordinary loss of 5.1 mln sgd, mainly from adjustments in the carrying value of certain overseas investments and provisions made for the divestment of a local subsidiary. |
| (Post 12 of 82) 03/29/2000.06:41:00 |
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From the results announced by UE on SGX website : BONUS ISSUE With a view to enlarge the share capital of the Company to reflect the level of its expanded scale of businesses and future growth and to enhance the liquidity of the Company's shares, the Board proposes a bonus issue of one new ordinary share of $1 each for every three stock units of $1 each held by the stockholders of the Company on a date to be determined by the Directors. The bonus issue shall rank pari passu in all respects with the existing stock of the Company except that they will not rank for the proposed final dividend in respect of 1999. The Directors are of the opinion that barring any unforeseen circumstances, the Company will be able to maintain at least the same dividend rate in the current year on the enlarged share capital. The proposed bonus issue is subject to the approval of the Singapore Exchange Securities Trading Limited and the stockholders of the Company at an extraordinary general meeting to be convened. |
| (Post 13 of 82) 04/01/2000.09:18:00 |
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United Engineers associate Apex Healthcare secures approval to list in KLSE United Engineers Ltd said Apex Healthcare Bhd, an associate of its 30 pct-owned Apex Pharmacy Holdings Sdn Bhd, has secured in-principle approval to list on the Kuala Lumpur Stock Exchange. Apex Healthcare's initial public offering is expected to be launched on April 14. Proceeds from the IPO will be used to fund the construction of additional marketing facilities in Malacca and for additional working capital requirements. |
| (Post 14 of 82) 04/06/2000.07:10:00 |
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UNITED ENGINEERS LIMITED As requested by The Exchange, we provide herewith a revised commentary elaborating on the reasons for improved profitability in each of the businesses to enable investors to understand the Group's better performance in 1999:- The significant increase in profitability of the Group as a whole was contributed by the following: 1. Engineering & Construction Division The improvement in its performance was due to increased sales and its focus on higher value-added services with better margins. 2. Manufacturing & Equipment Supply Division The better performance was attributed to rapid expansion of trading activities in engineering products and equipment in the region, particularly in Myanmar and Bangladesh. 3. Healthcare Division The higher profitability was accounted for by improved pharmaceutical retail and wholesale businesses in Singapore and Malaysia, and a substantially better performance of its ServiceMaster subsidiaries in providing hospital support and management services in the region. 4. Information Technology Division This division performed below expectation due mainly to the weakening demand for SKYTUTOR, its existing educational software product for primary and secondary schools in Singapore, following recent changes in the school syllabus. 5. Properties Division The improvement in this division's performance arose from higher occupancy rates at the UE Square Complex although there was weak demand for its warehousing space at UE Tech Park. The Division also benefited from savings achieved on the back of lower interest costs. Overall, the better performance of the Group was in line with the improvement in the economies of most of the countries in the region, as well as derived from higher operational efficiency in its business activities. Submitted by Miss Eileen Lim, Secretary on 05/04/2000 to the SES |
| (Post 15 of 82) 05/03/2000.08:40:00 |
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UNITED ENGINEERS LIMITED The Directors of United Engineers Limited are pleased to announce that the Singapore Exchange Securities Trading Limited has granted in-principle approval for the listing and quotation for the new Stock Units (which the Bonus Shares upon their issue, credited as fully-paid, will be converted) arising from the Bonus Issue. Such approval is not to be taken as an indication of the merits of the Bonus Issue. The Bonus Issue is subject to members' approval at an Extraordinary General Meeting ("EGM") to be convened. A circular to members in relation to the Bonus Issue, together with the Notice of EGM, will be despatched to members in due course. Submitted by Miss Eileen Lim, Secretary on 02/05/2000 to the SES |
| (Post 16 of 82) 05/27/2000.05:43:00 |
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DIVIDEND PAYMENT DATE The Company wishes to announce that dividend of 3% for ordinary stocks and 7.5% for preference shares will be paid on 14 July 2000, if sanctioned by Members at the forthcoming Annual General Meeting on 21 June 2000. Submitted by Miss Eileen Lim, Secretary on 26/05/2000 to the SES |
| (Post 17 of 82) 06/02/2000.07:05:00 |
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ANNOUNCEMENT - MATTERS RELATING TO SUBSIDIARY - INVESTMENT IN CCT BY UMC SERVICEMASTER PTE LTD The Directors of United Engineers Limited ("UEL") wish to inform that UMC ServiceMaster Pte Ltd ("UMCSM"), a wholly-owned subsidiary of United MediCorp Pte Ltd ("UMC"), itself a wholly-owned subsidiary of UEL has taken up 16.6% stake in the company known as The Centre for Cleaning Technology Pte Ltd ("CCT"). CCT was incorporated under the auspices of Singapore Productivity and Standards Board ("PSB") to educate and train cleaning professionals in basic cleaning skills and to conduct management and supervisory development courses for building managers. The company has an authorized and paid-up capital of $1,500,000 and $180,000 respectively. The six shareholders, namely Ecolab Pte Ltd, Nilfisk-Advance Pte Ltd, Karcher Asia Pacific Pte Ltd, ISS Servisystem Pte Ltd, Campaign Cleaning Services Pte Ltd and UMCSM have taken up equal number of shares. The above investment will not have any material impact on either the earnings per share or the net tangible assets of UEL for the current year. None of the directors or substantial shareholders of UEL has any interest, direct or indirect, in this matter. Submitted by Miss Eileen Lim, Secretary on 01/06/2000 to the SES |
| (Post 18 of 82) 06/22/2000.05:12:00 |
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UNITED ENGINEERS LIMITED The Company is pleased to announce the following: (i) 86th Annual General Meeting ("AGM") All the items of business set out in the Notice of AGM dated 26 May 2000 were duly passed at the AGM held earlier today. (ii) Extraordinary General Meeting No. 1 ("EGM No. 1") All the resolutions set out in the Notice of EGM No. 1 dated 26 May 2000 relating to (a) the amendments to the Articles of Association of the Company; (b) the adoption of the United Engineers Share Option Scheme 2000; (c) the modification to the United Engineers Executives' Share Option Scheme; and (d) the adoption of a Share Issue Mandate, were duly passed at the EGM No. 1 held earlier today. (iii) Extraordinary General Meeting No. 2 ("EGM No. 2") The ordinary resolution set out in the Notice of EGM No. 2 dated 26 May 2000 relating to the proposed bonus issue of between a minimum of 51,431,700 and a maximum of 52,152,834 new ordinary shares of $1.00 each in the capital of the Company ("Bonus Shares"), to be converted into stock units in the capital of the Company ("Stock Units"), on the basis of one (1) Bonus Share for every three (3) existing Stock Units held as at the books closure date, fractions of a Bonus Share to be disregarded, was duly passed at the EGM No. 2 held earlier today. Submitted by Miss Eileen Lim, Secretary on 21/06/2000 to the SGX |
| (Post 19 of 82) 07/03/2000.01:56:00 |
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Hi, anybody have any idea when would the bonus share be made available? |
| (Post 20 of 82) 07/14/2000.17:09:00 |
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ANNOUNCEMENT - INCREASE IN ISSUED AND PAID-UP ORDINARY SHARE CAPITAL United Engineers Limited (the "Company") wishes to advise that its issued and paid-up ordinary share capital has increased to $205,724,912 divided into 205,724,912 ordinary shares of $1.00 each. The increase arose from the issue of 51,429,810 new ordinary shares of $1.00 each in the Company, credited as fully paid at par, to holders of existing stock units in the capital of the Company as at 5 p.m. on 30 June 2000, the books closure date for the Company's one-for-three Bonus Issue. Upon issue, the new shares were converted into ordinary stock in the capital of the Company, transferable in amounts and multiples of $1.00. The new stock units rank pari passu with the existing stock units except that they do not rank for the final dividend declared in respect of the financial year ended 31 December 1999, which dividend is payable on 14 July 2000. Listing and quotation of the new stock units on the Singapore Exchange Securities Trading Limited will commence on 17 July 2000. Submitted by Miss Eileen Lim, Secretary on 14/07/2000 to the SGX |
| (Post 21 of 82) 09/09/2000.02:03:56 |
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United Engineers unit raises stake in Delichem to 100 pct from 70
SINGAPORE (AFX-ASIA) - United Engineers Limited said its wholly-owned subsidiary, McAlister and Company Limited had increased its stake in Delichem Pte Ltd, a manufacturer of specialty chemicals, to 100 pct from 70 pct. McAlister bought the additional 30 pct stake from Ong Teng Hwee and Khoo Thiam Him for 1.335 mln sgd. |
| (Post 22 of 82) 09/09/2000.03:11:26 |
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ANNOUNCEMENT - INCREASE IN SHAREHOLDING OF SUBSIDIARY - DELICHEM PTE LTD
The Board of Directors of United Engineers Limited ("UEL") wish to announce that its wholly-owned subsidiary, McAlister and Company Limited ("McA"), has acquired the remaining 300,000 ordinary shares ("the Shares") in the capital of Delichem Pte Ltd ("Delichem") from Messrs Ong Teng Hwee (23,750 shares), a director of Delichem and Khoo Thiam Him (6,250 shares) for a total consideration of $1,335,000. The Shares represents 30% of the issued and paid-up share capital of Delichem. The consideration was arrived at on a willing buyer and willing seller basis. Delichem, a specialty chemical cum cleaning equipment fabrication company has developed cleaning solutions with proprietary technologies for the electronics industry. It has recently expanded into Thailand to set up a plant for the manufacture of highly-specialised cleaning systems equipment and the blending of specialty chemicals. Upon completion of the purchase of the Shares, Delichem, which in turn has three wholly-owned subsidiaries, namely Delichem Sdn Bhd, Design Entice (M) Sdn Bhd and Delichem (Thailand) Company Limited, became a wholly-owned subsidiary of McA. The aforesaid acquisition of the Shares is not expected to have any significant impact on the net tangible assets or earnings per share of UEL for the current financial year. Other than as disclosed above, none of the directors and substantial shareholders of UEL has any interest, direct or indirect, in the above transaction. Submitted by Miss Eileen Lim, Secretary on 08/09/2000 to the SGX |
| (Post 23 of 82) 09/14/2000.22:05:01 |
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why is UE down by so much? Any reason why? |
| (Post 24 of 82) 09/15/2000.06:07:54 |
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Confused:
UE is one of the stock that is likely to be dropped from the FTSE Singapore Index on 18th Sept. Some of the likely ones are Metro, Sime Singapore, Pacific Carriers etc. Hope that helps. regards  |
| (Post 25 of 82) 09/15/2000.07:28:00 |
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Why is that so? pls advise! how can they just drop a counter from SGX .....what is going to happen to the shareholders?
 |
| (Post 26 of 82) 09/15/2000.15:16:39 |
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What is the FTSE Singapore Index? What the stocks in it? Pelase help becos I have 4 lots at 1.41 post bonus. Thank you. Anyway, why do they want to drop UE, since it is doing so well financially?
Well UE wind up or something? |
| (Post 27 of 82) 09/15/2000.15:33:19 |
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Has the bonus share been issued to us yet? |
| (Post 28 of 82) 09/15/2000.15:37:27 |
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Confused:
Suggest you go to asiastockwatch.com and look up article SAW Newsletter - 15 Sep 00 to clear your doubts. regards |
| (Post 29 of 82) 09/15/2000.22:04:20 |
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Hi UE shareholders, Don't worry about the price of UE drop so much today and yesterday. Its a good time to buy more. Just look at the buying - 1.5 million done today. UE has a NTA of $4.00 and at current price of $1.09 is a big discount to the NTA. Besides UE is doing very well and has a PER of only 12. If you have some more cash I suggest you can buy some more to average down your price. I am doing that. Its a good stock so its okay to buy and average down. |
| (Post 30 of 82) 09/15/2000.22:17:56 |
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I am surprise that UE went down to as low as $1.01 today. I bought some to average down my price. No real reason for the sell down esp since the company is doing very well now. UE Square is 100% leased out and will be good income. UE is in the business of IT, engineering, power, etc. I am quite surprise the price can go down to $1.01. I think this is a super buy price especially since the vol. is today 1.5 million and yesterday about 800,000. This means that the stock is now more liquid. So don't miss opportunity to load on this stock. |
| (Post 31 of 82) 09/16/2000.15:36:24 |
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By Fundollar On Saturday, 16 Sep 2000 03:19pm (#63 of 63) reposting from
ShareInvestor.com Guide > A to Z of stock market terminology > Par value and capital reduction Too much analysis can caused Paralysis !! I think Flame's message is NOT so much about UE having a ParValue of $1... I think he brings up $1 Parvalue just to show that the 3% dividend payout rate will amount to 3c per share...and so dividend yield quite attractive at close to 3%. His MAIN MESSAGE was that UE plunge to around $1 versus a NTA of $4 and is therefore very attractive. (P/s:- Actually UE's NTA is now $3.06, adjusted for recent 1-for-3 Bonus....even with NTA of $3, it is current trading at a huge 66% discount to NTA. UE is part of OCBC stable via GE & Straits Trading, ongoing bank restructurings to dispose of non-core assets could result in UE realising closer to its true values.) ===> FAwise, UE is very much undervalued.... TAwise, some tell me it may even be headed for 80-90c level, so again it depends on each individual investment objective+style, if you are convince that UE can go to up to closer its bookvalue within 2-years (coz OCBC groups restructure itself), then what is a 10c-20c potential drop versus a $1-$2 potential gains, and so you buy for longer term. Then again, there will be those who believe strongly that UE will certainly get 10-20c cheaper, so why not let it get cheaper before buying....ofcourse you can get it cheaper and you could also miss it altogether. .... I generally opt to buy some first and buy more as it get cheaper...if fundamentals+time are on my side. Too much analysis can indeed cause Paralysis !! |
| (Post 32 of 82) 09/16/2000.16:41:37 |
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To Aha, the message is loud and clear. UE will be most rewarding when restructing takes place. So I hope all SI readers get the message. I strongly recommend because I doubt it will go much lower. At $1.00 the accumulation and support is too great. I have observed it being snapped up at $1.01 and $1.02. Also there is much greater liquidity in this counter now that the vol traded in the open market has exceeded 1 million. At this level the risk is minimal. Time to load up on this counter. What are you waiting for? |
| (Post 33 of 82) 09/23/2000.00:15:35 |
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United Engineers raises stake in Anhui Anxin Energy to 100 pct from 70
SINGAPORE (AFX-ASIA) - United Engineers Ltd said it has increased its stake in China-based subsidiary, Anhui Anxin Energy Co Ltd, to 100 pct from 70 pct, after buying the 30 pct stake of partner Anhui Electric Power Company. Anhui Electric has decided to withdraw from the joint venture to "better focus on a new project" in property development, it said. The company said the new development is not expected to have any significant impact on the net tangible asset or earnings per share of the company for the current year. |
| (Post 34 of 82) 09/23/2000.02:17:41 |
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ANNOUNCEMENT - MATTERS RELATING TO SUBSIDIARIES - UNITED ENGINEERS (SINGAPORE) PRIVATE LIMITED'S INVESTMENT IN ANHUI ANXIN ENERGY CO. LTD
The Board of Directors of United Engineers Limited ("the Company") wishes to announce that a 70% owned subsidiary, Anhui Anxin Energy Co. Ltd ("Anxin Energy"), is now a wholly-owned subsidiary. This investment is held through United Engineers (Singapore) Private Limited ("UES"), itself a wholly-owned subsidiary of the Company. Anxin Energy, originally a sino-foreign joint-venture company, was 30% owned by Anhui Electric Power Company ("AEPC") and 70% owned by UES to undertake engineering and construction contracts, and provide consultancy services in relation to electric power and other infrastructural projects in China and South East Asia. AEPC has decided to withdraw its investment in Anxin Energy to better focus on a new project, mainly property development through a related company Anhui Power Realty Pte Ltd ("Power Realty"). Approvals of the requisite authorities have been sought and obtained. Arising from this, Anxin Energy has become a wholly-owned foreign subsidiary of the Company with a registered capital of RMB 7 million. The development is not expected to have any significant impact on the net tangible assets or earnings per share of the Company for the current year. Save as otherwise disclosed, none of the directors or substantial shareholders of the Company has any interest, direct or indirect, in this matter. Submitted by Miss Eileen Lim, Secretary on 22/09/2000 to the SGX |
| (Post 35 of 82) 09/27/2000.01:17:33 |
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United Engineers H1 net profit pre-extras 8.050 mln sgd vs 7.338
SINGAPORE (AFX-ASIA) - United Engineers Ltd six months to June results: Net profit before extraordinaries - 8.050 mln sgd vs 7.338 mln Extraordinary loss - 1.049 mln sgd vs loss 1.490 mln Net profit - 7.001 mln sgd vs 5.848 mln Sales - 207.328 mln sgd vs 211.585 mln Pretax profit - 10.132 mln sgd vs 9.025 mln Opg profit - 22.547 mln sgd vs 21.732 mln EPS - 5.2 cents vs 4.7 Interim dividend - nil, unchanged In a statement, United Engineers said the full year's performance is expected to be better than last year, given an orderbook of 265 mln sgd at end-Aug. United Engineers said its investment property, UE Square, recorded full occupancy while UE Tech Park's occupancy rate rose to 70 pct from 62 pct in the previous half year. The company said its extraordinary loss during the first half was due to provisions made for long-term overseas investments |
| (Post 36 of 82) 09/28/2000.02:48:44 |
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United Engineers Down Despite Pft Source : Dow Jones 10:43 27/09/2000 [Dow Jones] SINGAPORE: Shares of construction and real estate company United Engineers (U04) down 1.9% at S$1.06 in thin volume despite posting 10% rise in 1H net profit to S$8.1 million. Dealers note trades very small and market not excited about construction sector, where margins are thin.(AXH) |
| (Post 37 of 82) 09/29/2000.04:05:06 |
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ANNOUNCEMENT - SALE OF ASSETS OF APEX PHARMACY INTERNATIONAL PTE LTD TO GUARDIAN S.E.A. PTE LTD
Asset Agreement The Board of Directors of United Engineers Limited ("UEL") is pleased to announce that Apex Pharmacy International Pte Ltd ("Apex Pharmacy"), a 51 per cent subsidiary of United MediCorp Pte Ltd ("UMC"), which is, in turn, a wholly-owned subsidiary of UEL, has entered into an asset sale and purchase agreement (the "Asset Agreement") dated 28 September 2000 with Guardian S.E.A. Pte Ltd ("Guardian"), pursuant to which Apex Pharmacy shall sell all its assets and goodwill relating to the pharmaceutical retail business ("Assets") to Guardian for a total price of approximately S$11.5 million. The price was arrived at on a willing buyer, willing seller basis. The remaining 49% of the shares in Apex Pharmacy is owned by Apex Holdings (Pte) Ltd, a private company in which the founder Mr Kee Tah Peng and his family have a controlling interest. Mr Kee and his son, Kee Kirk Chuen are also directors of Apex Pharmacy. Property Agreements In connection with the Asset Agreement, Apex Pharmacy has also entered into the following Call Option and Put Option Agreements:- (a) Call Option Agreement dated 28 September 2000 with Guardian in respect of a leasehold property owned by Apex Pharmacy located at Jurong East (the "Jurong Property") pursuant to which Apex Pharmacy has granted to Guardian the right for Guardian to require Apex Pharmacy to sell to Guardian, or its nominee, the Jurong Property (b) Call Option Agreement dated 28 September 2000 with Guardian in respect of a leasehold property owned by Apex Pharmacy located at Thomson Plaza (the "Thomson Property") pursuant to which Apex Pharmacy has granted to Guardian the right for Guardian to require Apex Pharmacy to sell to Guardian, or its nominee, the Thomson Property; (c) Put Option Agreement dated 28 September 2000 with C.S. Property Holdings Pte Ltd ("CS"), a sister company of Guardian, and also a wholly-owned subsidiary of Dairy Farm International Holdings Limited, in respect of the Jurong Property, pursuant to which CS has granted to Apex Pharmacy the right for Apex Pharmacy to require CS to purchase the Jurong Property; and (d) Put Option Agreement dated 28 September 2000 with CS in respect of Thomson Property, pursuant to which CS has granted to Apex Pharmacy the right for Apex Pharmacy to require CS to purchase the Thomson Property. The call option periods for both Call Option Agreements are a period of six months starting from 28 September 2000 and the put option periods for both Put Option Agreements are a period of six months starting from the date of service by Apex Pharmacy on CS of the appropriate notice. The exercise of either put option is conditional upon, inter alia, the fact that no call option has been exercised in respect of the relevant property the subject matter of such call option. The aggregate consideration for the Jurong Property and the Thomson Property (collectively, the "Properties") which will be realised by Apex Pharmacy by latest, first half 2001, is approximately S$4.7 million, which is the market value of the Properties as agreed among the parties. As part of the total package the options were incorporated to offer greater flexibility to Guardian in the disposal of the Properties Effects of Sale The sale will realise an extraordinary gain of $4.0 million to UEL and will increase the earnings per share after extraordinary items by 1.9 cents in the current year. It will have no material impact on the net tangible assets per share for the current year. The sale is in line with UEL's policy to expand its healthcare services through its wholly-owned subsidiary, UMC, by focusing on the following growing businesses : (1) to expand further our well-established hospital and facility management services in the region under the ServiceMaster brand name; (2) to widen the distribution network for medical equipment and supplies in East Asia where our wholly-owned Hong Kong subsidiary, Goodman Medical Supplies Limited ("Goodman") is already a leading player in Hong Kong and Macau. Goodman expects demand for its products to further increase when China enters the World Trade Organization ("WTO"); (3) to serve as a premier wholesale supplier of pharmaceutical products in South East Asia; and (4) to develop further UMC's e-commerce capabilities including forming an alliance with Medicine.net, an international portal for in-depth medical information for consumers. Proceeds from the sale will be utilised to finance some of the above-mentioned programmes. Other than as disclosed above, none of the Directors and substantial shareholders of UEL, UMC or Apex Pharmacy have any interest, direct or indirect, in the sale of the assets and Properties by Apex Pharmacy. Submitted by Miss Eileen Lim, Secretary on 28/09/2000 to the SGX |
| (Post 38 of 82) 10/04/2000.20:08:59 |
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United Engineers has hit its bottom at $1.01 and is nor starting to move up. Good solid company with solid parentage. Deserves a better rating. |
| (Post 39 of 82) 10/04/2000.21:19:44 |
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According to the price chart from 1987 up to now, UE's high during this period was over $3 and its low was below 50 cents.
Now for a look at the 2-year chart. 
So the $1.01 bottom only qualifies as a 52-week low. |
| (Post 40 of 82) 10/20/2000.03:26:10 |
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ANNOUNCEMENT - INCREASE IN SHARE CAPITAL OF SUBSIDIARY - GRAFTON PHARMASIA PTE LTD
The Board of Directors of United Engineers Limited ("UEL") wish to announce that Grafton Pharmasia Pte Ltd ("Pharmasia"), a 51% subsidiary of United MediCorp Pte Ltd ("UMC") itself a wholly-owned subsidiary of UEL, has increased its authorised share capital from $1,000,000/- to $2,000,000/- by the creation of 1,000,000 new shares of $1/- each. Pharmasia, which is engaged in marketing and distribution of consumer healthcare products and clinical pharmaceutical products for principals, also increased its issued share capital from $800,000/- to $1,800,000/- by way of a Rights Issue of 1,000,000 shares of $1/- each (the "Rights Shares") at par value and in the proportion of 5 new shares for every 4 existing shares held. UMC has taken up its entire entitlement of 510,000 Rights Shares. The remaining Rights Shares were taken up by Apex Holdings (Pte) Ltd (143,000 Rights Shares) and Apex Pharmacy Holdings Sdn Bhd (347,000 Rights Shares), two companies in which Mr Kee Tah Peng and his family have a controlling interest. Mr Kee and his son, Kee Kirk Chuen are also directors of Pharmasia. Apex Pharmacy Holdings Sdn Bhd is a 30% associated company of UMC. Upon completion of the Rights Issue exercise which was fully subscribed, the UEL Group had an effective interest of 56.7% in the share capital of Pharmasia. The aforesaid subscription of the Rights Issue is not expected to have any significant impact on the net tangible assets or earnings per share of UEL for the current financial year. None of the directors and substantial shareholders of UEL has any interest, direct or indirect, in the above transaction. Submitted by Miss Eileen Lim, Secretary on 19/10/2000 to the SGX |
| (Post 41 of 82) 10/26/2000.02:35:37 |
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ANNOUNCEMENT - INCREASE IN SHARE CAPITAL OF SUBSIDIARY - GREATEARTH CONSTRUCTION PTE LTD
The Board of Directors of United Engineers Limited ("UEL" or the "Company") wish to announce that Greatearth Construction Pte Ltd ("Greatearth"), a wholly-owned subsidiary of Greatearth Holdings Pte Ltd, in turn an 85% subsidiary of United Engineers (Singapore) Private Limited, itself a wholly-owned subsidiary of the Company, has increased its paid-up share capital from $5,000,000/- to $7,000,000/- by way of a Bonus Issue of 2,000,000 shares of $1/- each on the basis of 2 Bonus Shares for every 5 existing Shares held. The Bonus Issue was effected by partial capitalization of Greatearth's revenue reserve. Greatearth, a G8 general builder and a G6 civil engineering contractor registered with the Singapore Building and Construction Authority, specialises in the construction of residential, industrial, commercial and institutional buildings, civil engineering works and various design-and-build projects for both private and public sectors. Upon completion of the Bonus Issue exercise, UEL's interest in the issued share capital of Greatearth remains unchanged at 85%. The remaining 15% interest in Greatearth is held by Mr Chua Hock Tong, who is also a director of Greatearth and Greatearth Holdings Pte Ltd. Mr Chua also owns 93,333 UEL shares. The aforesaid Bonus Issue is not expected to have any significant impact on the net tangible assets or earnings per share of UEL for the current financial year. Other than as disclosed above, none of the directors and substantial shareholders has any interest, direct or indirect, in the above Bonus Issue. Submitted by Miss Eileen Lim, Secretary on 25/10/2000 to the SGX |
| (Post 42 of 82) 10/31/2000.11:41:07 |
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To Flame and all interested :
I can't resist responding to you after I saw the beautiful graphic. Good parentage does not mean competent management. It is the latter which brings the bacon home. Maybe UE needs new blood. But definitely it needs more focus to move its price beyond the current level. UE is a strange animal. I am unable to understand what business it is in: real estate as in the UE Square, Hard core engineering as in United Engineers, Chainstore distribution of healthcare and pharmaceutical products,warehousingas in UE Techno Park, trading...This is confusing. If you want to invest in a multi company and mulit industry portfolio, better to put money in unit trust.I was burnt once and I stayed out, maybe until the price drop to the penny stock level. |
| (Post 43 of 82) 11/08/2000.03:54:25 |
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ANNOUNCEMENT - INCORPORATION OF SUBSIDIARY - GREATEARTH DEVELOPMENTS PTE LTD
The Board of Directors of United Engineers Limited ("UEL") is pleased to announce the incorporation of a subsidiary, Greatearth Developments Pte Ltd ("Greatearth Developments"). Greatearth Developments is a joint venture between United Engineers Developments Pte Ltd, a wholly-owned subsidiary of UEL and Greatearth Construction Pte Ltd ("GEC"), a Company in which UEL has an 85% interest. The remaining 15% interest in GEC is held by Mr Chua Hock Tong who is also a director of GEC and Greatearth Developments. Mr Chua also owns 93,333 UEL shares. Greatearth Developments presently has an initial authorised and paid-up share capital of $500,000/- and $2/- respectively. It was incorporated for the purpose of undertaking urban redevelopments for leasing business. The aforesaid incorporation of Greatearth Developments is not expected to have any significant impact on the net tangible assets or earnings per share of UEL for the current financial year. Other than as disclosed above, none of the Directors or substantial shareholders has any interest, direct or indirect, in the above incorporation. Submitted by Miss Eileen Lim, Secretary on 07/11/2000 to the SGX |
| (Post 44 of 82) 02/14/2001.17:25:13 |
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ANNOUNCEMENT - INCORPORATION OF 2 SUBSIDIARIES IN CAMBODIA
The Board of Directors of United Engineers Limited ("UE") wish to announce that MPL Pte Ltd ("MPL"), a 70% owned subsidiary of the UE Group has entered into a Sale and Purchase Agreement ("Purchase") to purchase the shares of TV & Radio Angkor Co. Ltd, a Cambodian company ("TV & Radio") for a total consideration of US$600,000. Pursuant to the purchase, MPL has incorporated a Cambodian subsidiary, United Media Limited ("UML") for the purpose of holding all the rights to the television and radio licences previously held by TV & Radio. With these licences, UML is authorised to operate a television and radio station with licenced frequencies. A second Cambodian subsidiary, Media Services Limited ("MSL") has been incorporated to take over the management services provided by Cambodia National Broadcasting Management Co. Ltd ("CNBM"), a wholly-owned subsidiary of TV & Radio, to the National Television of Kampuchea in Cambodia. Both UML and MSL have an initial registered capital of US$5,500.00. At present, MPL's main business involves the supply and integration of TV broadcasting systems and equipment. The purchase is one of the steps in MPL's drive to expand its international business The aforesaid purchase is not expected to have any significant impact on the net tangible assets or earnings per share of UE for the current financial year. None of the directors and substantial shareholders of UE has any interest in the above transaction. Submitted by Miss Eileen Lim, Secretary on 14/02/2001 |
| (Post 45 of 82) 02/14/2001.21:30:27 |
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UEM ventures into TV, radio broadcasting in Cambodia
Source : AFX SINGAPORE 19:17 14/02/2001 SINGAPORE (AFX-ASIA) - United Engineers Ltd said it, through unit MPL Pte Ltd, has entered into an agreement to acquire Cambodia's TV & Radio Angkor Co Ltd for 600,000 usd. The acquisition will allow MPL to operate a television and radio station with licensed frequencies, it said. MPL, where United Engineers has a 70 pct stake, is mainly involved in the supply and integration of broadcasting system and equipment. United Engineers closed unchanged at 1.42 sgd. |
| (Post 46 of 82) 04/05/2001.00:22:01 |
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CLARIFICATION
In response to the Singapore Excahnge's request for clarifications, we are pleased to provide the following information:- SGX Queries on Exchange Loss: (a) To explain the nature of the exchange gains and how they came about; and (b) To state the Group's hedging policies, if any, including the employment of foreigncurrency option contracts, forward contracts, future contracts etc. Clarification: Generally, the Group does enter into forward contracts to hedge foreign currency exposures. In addition, working capital requirements are funded where possible, by local currency borrowings so as to match local currency income stream. The exchange loss of S$1.7 million arose mainly from our subsidiary's distribution business in Myanmar (where we had to earn foreign exchange credits by exporting its local produce to pay for the import of our equipment and engineering products for sale in the country), and the exposure to the Myanmar Kyat during the year end translation of the Myanmar Kyat into SGD. The Myanmar Kyat is an inconvertible currency which cannot be hedged by international financial instruments. Year 2000, especially in the second half saw unusually sharp falls in the value of the Myanmar Kyat against the US Dollar (and hence the SGD). Our subsidiary limits its exposure to the Myanmar Kyat by utilising it for procurement of local produce for export. However, in 2000, sales of our equipment and engineering products in Myanmar grew more strongly compared with exports of its local produce, resulting in substantial Kyat balance which required translation into SGD for year end closing purposes. Operationally, our subsidiary, which remained profitable for 2000 despite the exchange loss, has always taken prudent measures to limit Kyat cash position. SGX Query on Others: (c) Details of what is classified under "Others" and the reasons for the significant variance this year. Clarification: The category of "Others" include corporate and unallocated expenses and investment activities. The significant variance between 2000 and 1999 arose mainly from a gain of $7.5 million on divestment of the pharmaceutical retail business in 2000, compared to a loss of $2.2 million on disposal of Graphicom Pte Ltd in 1999, and lower provisions against the carrying values of overseas investments in 2000. Submitted by Miss Eileen Lim, Secretary on 04/04/2001 |
| (Post 47 of 82) 05/11/2001.17:33:31 |
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| (Post 48 of 82) 06/18/2001.17:15:11 |
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ANNOUNCEMENT - MATTERS RELATING TO SUBSIDIARY DIVESTMENT IN PACIFIC MEDICAL SYSTEMS PTE LTD BY UNITED MEDICORP PTE LTD
The Board of Directors of United Engineers Limited ("UEL" or "the Company") wishes to announce that United MediCorp Pte Ltd ("UMC"), a wholly-owned subsidiary of the Company, divested its entire shareholding of 261,120 ordinary shares ("the Shares"), representing 20% of the issued capital of Pacific Medical Systems Pte Ltd ("PMS") to the Purchaser, for a nominal consideration of US$1.00. The sale consideration for the transaction was arrived at after negotiations on a willing buyer willing seller basis. The remaining shareholders of PMS, namely Dr Peter Tay and Orchard Dental Centre Pte Ltd, have also agreed to sell their respective shares to the Purchaser for the same nominal consideration of US$1.00. Upon completion of the sale, UMC ceased to have any interest in PMS. PMS was initially set up in 1995 as a joint venture company in Singapore with 3 other companies, namely Health Corporation of Singapore (HCS), the Myanmar Growth Fund (MGF) and Orchard Dental Care Pte Ltd (ODC), to undertake the establishment of a medical center in Myanmar, providing medical and dental services. Due to adverse operating conditions, demand for the services was below capacity. The divestment is in line with the Company's policy to focus on the areas of growth in its healthcare services division, in the provision of hospital management support services, the wholesale of pharmaceutical and healthcare products and the distribution of medical equipment. The divestment will not have any material impact on the net tangible assets and earnings per share of the Company for the current year as the sum of $291,000, being cost of investment, had been written off in prior years. None of the directors or substantial shareholders of the company has any interest, direct or indirect, in the transaction. Submitted by Miss Eileen Lim, Secretary on 18/06/2001 |
| (Post 49 of 82) 09/05/2001.17:44:15 |
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64% below NTA |
| (Post 50 of 82) 09/27/2001.17:16:04 |
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MATTERS RELATING TO SUBSIDIARIES - INCREASE IN PAID-UP CAPITAL
The Directors of United Engineers Limited ("UEL") wish to announce the increase in issued capital of United Power Corporation (Singapore) Pte Ltd ("UPC") an associate company, and United Infrastructure Pte Ltd ("UI") a subsidiary, in the following manner:- 1. UPC's issued and paid-up capital has been increased from S$106,600,000 to S$107,000,000 through the issue of 400,000 ordinary shares of S$1.00 each at par. UPC is a joint venture company owned by UI (67%) and Singapore Power International Pte Ltd (33%). UPC in turn holds a 49% stake in Anhui Hefei United Power Generation Co. Ltd, a joint venture company involved in developing and operating the Hefei No. 2 Power Plant in Anhui Province, China. 2. UI's issued and paid-up capital has been increased from S$71,600,000 to S$71,900,000 through the issue of 300,000 ordinary shares of S$1.00 each at par. UI is a joint venture investment holding company owned by UEL (62%) and Tropical Excellence Infrastructure Pte Ltd (38%). Tropical Excellence is a subsidiary of The Government of Singapore Investment Corporation. UEL's share of the increased capital in UI, amounting to S$186,000 and in UPC (through UI) will be financed by internal funds. The funds are being injected as working capital for the companies. The above transactions will not have any material effect on UEL's consolidated earnings per share or net tangible assets per share for the year ending 31 December 2001. None of the directors and substantial shareholders of UEL has any interest, direct or indirect, in the above transaction. Submitted by Miss Eileen Lim, Secretary on 27/09/2001 |
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