Key Developments: United Engineers Ltd (UTES.SI)

UTES.SI on Stock Exchange of Singapore

2.92SGD
24 Nov 2014
Price Change (% chg)

$0.01 (+0.34%)
Prev Close
$2.91
Open
$2.92
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$2.91
Volume
940,000
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1,329,571
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$2.97
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Latest Key Developments (Source: Significant Developments)

United Engineers Ltd 's indirect subsidiary announces completion of disposal of 100 pct of shareholding in Wearnes Automotive Pte. Ltd. And Associated Motor Industries (Private) Ltd
4:34am EST 

United Engineers Ltd:Refers to the announcement made earlier, in relation to disposal by its indirect subsidiary, WBL Corp Ltd of the entire issued and paid-up share capital in each of Wearnes Automotive Pte. Ltd and Associated Motor Industries (Private) Ltd to StarChase Motorsports (Singapore) Pte. Ltd.Says the main closing has occurred on Nov. 24.Says following the occurrence of main closing, AMI and WAPL together with its subsidiaries and associated companies have ceased to be subsidiaries and associated companies of the company.  Full Article

United Engineers Ltd announces striking off of dormant indirect subsidiary company
Tuesday, 28 Oct 2014 05:10am EDT 

United Engineers Ltd:Says its dormant indirect subsidiary incorporated in Singapore, has been struck off from the Register of Companies with effect from Oct. 17 and the notice of the striking off has been published in the Government Gazette on Oct. 24.  Full Article

United Engineers Ltd announces incorporation of joint venture company
Friday, 3 Oct 2014 09:56am EDT 

United Engineers Ltd:Informs that its indirect wholly-owned subsidiary, UE NEWater Pte. Ltd., together with BEWG International Pte. Ltd has set up a joint venture company known as 'BEWGI-UE NEWater (S) Pte. Ltd.Says BNS is incorporated with an issued and paid-up share capital of $10/-, comprising of 10 ordinary shares held by the joint venture partners (Party Stake - UE NEWater 20 pct and BEWGI 80 pct).Says BNS will enter into an agreement with the Public Utilities Board to design, build, own and operate the second NEWater plant at Changi.  Full Article

United Engineers selected as preferred bidder for second NEWater Plant at Changi through joint venture
Friday, 19 Sep 2014 07:15am EDT 

United Engineers Ltd:Says through 20:80 consortium between wholly-owned environmental engineering subsidiary UE NEWater Pte Ltd and BEWG International Pte Ltd (BEWGI) respectively.Says was selected as preferred bidder to design, build, own and operate second NEWater plant at Changi.Project will have daily production capacity of 228,000 m3 and is expected to be completed in late 2016.Project will purify treated used water from Changi Water Reclamation Plant into ultra-clean, high-grade reclaimed water known as NEWater.Says second NEWater plant at Changi will be constructed on rooftop of existing Changi Water Reclamation Plant, and main processes that will be adopted are microfiltration and reverse osmosis followed by ultraviolet disinfection.  Full Article

United Engineers Ltd announces liquidation of subsidiaries
Wednesday, 3 Sep 2014 05:08am EDT 

United Engineers Ltd:Says Wearnes Global (Suzhou) Co., Ltd. (WGS) and Wearnes Hollingsworth (Shenyang) Ltd. (WHSY), both incorporated in the People’s Republic of China, had completed their process of liquidation.WGS and WHSY are indirect subsidiaries of the Company in which the Company has effective interests of about 67.6 pct and 62.7 pct in WGS and WHSY respectively.Liquidations do not have any material impact on the net tangible assets or earnings per share of Group for financial year ending Dec. 31, 2014.  Full Article

United Engineers Ltd gives Q4 2014 net sales outlook
Friday, 8 Aug 2014 05:08am EDT 

United Engineers Ltd:Expects Q4 2014 net sales to be between $150 - $180 mln.  Full Article

United Engineers Ltd proposes divestment of the assets and liabilities of MFS Technology Ltd
Tuesday, 5 Aug 2014 10:08am EDT 

United Engineers Ltd:Says indirect subsidiary, MFS Technology Ltd (MFS), enters into legally binding letter of offer with Novo Tellus PE Fund 1, L.P., fund advised by Novo Tellus Capital Partners and Navis Asia VII Management Company Limited.Binding letter of offer for divestment of assets and liabilities of MFS, including entire issued share capital of MFS Technology (S) Pte Ltd (MFSS) for aggregate cash consideration of S$124,152,000.MFSS is wholly-owned subsidiary of MFS which company has a 57 pct effective shareholding interest through 67.6 pct-owned indirect subsidiary WBL Corporation Limited and wholly-owned subsidiary UES Holdings Pte Ltd.Upon completion of Proposed Divestment, Divestment Group will no longer be subsidiaries of Group.  Full Article

United Engineers announces dissolution of dormant indirect subsidiary
Thursday, 26 Jun 2014 05:08am EDT 

United Engineers Ltd:Says Wearnes Precision (Malaysia) Sdn. Bhd. its dormant indirect subsidiary incorporated in Malaysia, has been dissolved by members’ voluntary winding up.  Full Article

United Engineers Ltd announces ownership interest of Oversea-Chinese Banking Corporation Limited
Wednesday, 28 May 2014 05:04am EDT 

United Engineers Ltd:Says Oversea-Chinese Banking Corporation Limited holds 26,233,458 ordinary shares representing 4.12 pct of voting power.Oversea-Chinese Banking Corporation Limited held 6,151,876 ordinary shares representing 0.97 pct of the total voting power.  Full Article

United Engineers does not declare dividend
Thursday, 15 May 2014 05:02am EDT 

United Engineers Ltd:Says no dividend has been declared/recommended for the period ended March 31.  Full Article

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