UOL in end-August 2017 completed the acquisition of 60 million shares in UIC from a wholly-owned subsidiary of Haw Par Corporation. Following the acquisition, UIC, its subsidiary Marina Centre Holdings, as well as the common associated and joint venture companies of UOL and UIC have been accounted as subsidiaries of UOL.
SINGAPORE (Aug 3): UOL Group reported a 21% increase in earnings to $132.7 million for the 2Q18 ended June, from $109.2 million a year ago.
The increase was on the back of a 59% jump in group revenue to $635.4 million in 2Q18, from $399.1 million a year ago. This was mainly due to the consolidation of United Industrial Corporation (UIC) and higher attributable fair value gains on investment properties.
