OCBC and Great Eastern mulling sale of combined stakes in United Engineers

The parties are in preliminary discussions.

OCBC made the headlines yesterday following reports that it might sell its 34.1% stake in United Engineers to Thai billionaire Charoen Sirivadhanabhakdi.

After trading hours yesterday, the bank and Great Eastern Holdings revealed that “they have been approached by a party in connection with a possible transaction relating to their combined stakes in UEL and WBL Corporation Limited.”

“Discussions are preliminary at this stage and shareholders of OCBC Bank and GEH are advised that there is no certainty that any transaction or agreements will be entered into pursuant to these discussions,” the statement noted.

Here’s more from OCBC and GEH:

Shareholders are further advised to exercise caution when dealing in the shares of OCBC Bank or GEH and to refrain from taking any action in respect of their investments which may be prejudicial to their interests.

In the event that shareholders wish to deal in the shares of OCBC Bank or GEH, they should seek their own professional advice and consult with their own stockbrokers.

OCBC Bank and GEH will, in compliance with applicable rules (including the Corporate Disclosure Policy of the Listing Manual of the Singapore Exchange Securities Trading Limited), make further announcements as appropriate.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia