UOL Group

The local property market — which was subjected to cooling measures and experienced oversupply in the past decade — may be small, but in the 2020s, a home-grown developer will rank among global real estate companies such as Brookfield Asset Management

SINGAPORE (Nov 22): UOL Group is acquiring KH KEA Building along North Bridge Road, which is located next to the company’s Odeon Towers, for $79.3 million.

Finance expenses also increased 14% to $29.0 million on higher interest expenses on borrowings for the Avenue South Residence development and for the acquisition of shares in Marina Centre Holdings and Aquamarina Hotel. 

SINGAPORE (Sept 10): The launch of Avenue South Residence over the weekend saw 276 out of 300 units being sold, or 26% of the 1,074 units in the residential project.

SINGAPORE (Aug 8): UOL Group recorded a 48% jump in 2Q19 earnings to $195.4 million, compared to $131.9 million in 2Q18.

SINGAPORE (July 9): UOL Group and United Industrial Corporation (UIC) have jointly put in the winning bid of $491.3 million for the residential site located at Clementi Avenue 1.

SINGAPORE (May 14): DBS Vickers Securities is maintaining its “buy” call on UOL Group with a target price of $8.53, which implies 0.8 times P/NAV and is pegged to a 35% discount to RNAV after taking into account the group’s higher valuation as well

SINGAPORE (May 10): UOL Group reported 1Q19 earnings of $72.4 million, 5% lower from $76.1 million in 1Q18, supported by a higher proportion of overseas profits with higher taxes and profits with higher non-controlling interests.

SINGAPORE (Apr 16): DBS Group Research is upgrading UOL Group to “buy” from “hold” and raising its target price by 20% to $8.58, after UOL’s 50%-owned subsidiary United Industrial Corporation (UIC) raised its stake in Marina Centre.

SINGAPORE (April 13): United Industrial Corporation (UIC), a subsidiary of UOL Group, is acquiring a further 24.27% stake in its 53.07%-owned indirect subsidiary Marina Centre Private Holdings (MCH) for $485.3 million to be paid in cash.