3 stories mentioning SGX:U14Updated 23m ago
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UOL Group's (SGX:U14) attributable profit to equity holders jumped 23% during the first half to SG$252.2 million from SG$205.5 million a year earlier, according to a Wednesday filing with the Singapore Exchange.Earnings per share rose to SG$0.2976 compared with SG$0.2433 in the year-ago period.The Singapore property developer's revenue fell 7% to SG$1.44 billion from SG$1.55 billion.
United Overseas Bank (SGX:U11) signed two share sale agreements with Singland Properties to dispose of its stakes in Novena Square Development and Novena Square Investments for SG$299 million, according to a Friday filing with the Singapore Exchange.Shares of the bank were marginally down Monday morning.The targets were joint ventures between UOL Group (SGX:U14), Singapore Land (SGX:U06), and the company, the filing said.The property is a mixed-use development in Singapore, comprising two office blocks and a retail mall.The disposals are part of the company's strategy to reallocate capital.
UOL's (SGX:U14) hospitality subsidiary, UOL Hotel Investments (Orchard), signed a deal to buy out United Overseas Bank's (SGX:U11) remaining interest in a property located in Singapore for SG$568.5 million.The acquisition comprises UOB's legal title to the land lots and a banking hall, along with its 1/12 share in a 30-year lease, according to a Friday filing with the Singapore Exchange.Following the completion of the acquisition, UOL will have full ownership of the property, which is currently being redeveloped into a new mixed-use commercial development, which will comprise a hotel and a banking hall.
