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UIC takeover positive for UOL, say analysts

The Edge Singapore Published on Wed, Jun 21, 2017 / 12:11 PM GMT+8

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SINGAPORE (June 21): UOL Group, UIC Group and Haw Par Corp this morning called for trading halts.

Is UOL, the property firm controlled by UOB Chairman Wee Cho Yaw, offering to buy out United Industrial Corp (UIC) again after its 2009 failed bid?

UOL and Haw Par currently owns 45% and 0.45% of UIC respectively. As a group, the Wee family owns 49.65% stakes in UIC as at March 15. The other major shareholder is Philippine tycoon, John Gokongwei, who owns 37% stakes in UIC.

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