Oxley cuts stake in United Engineers to less than 10%

This follows Yanlord’s acquisition of a majority stake in the firm.

Oxley has cut down its shares in United Engineers (UEL) to less than 10% through open-market transactions outside treasury shares and subsidiary holdings, the company announced.

As a result, the group's aggregate cost of investments in quoted securities fell to 10.45% or $157.28m, from 21.52% or $323.84m.

In a separate announcement, Yanlord Commercial Property Investments (YCPI) acquired 9.40% of UEL's total ordinary shares in 15 November. It now holds a majority stake of 51.46% in the firm.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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