Company Briefs: UOL


UOL has promoted its deputy group chief executive officer Liam Wee Sin to group chief executive. He is taking over from Mr Gwee Lian Kheng, who retired in January after 45 years of service and remains a director on the board.

Mr Liam, 59, will assume his new role on Jan 2 next year, a UOL statement said yesterday. He joined the company in 1993 and was promoted from president (property) to deputy group chief executive officer in August 2015.

UOL Group is publicly listed in Singapore, with total assets of nearly $20 billion as of March 31 this year. Its sha res closed unchanged at $6.73 yesterday.

Wheelock and Company

The offer by Hong Kong-listed parent Wheelock and Company to buy out minority shareholders' stakes in Singapore-listed Wheelock Properties has been extended to 5.30pm on Sept 21.

This was announced yesterday evening, ahead of the original 5.30pm offer acceptance deadline. The offeror did not disclose the level of acceptances it had received. It has the option to extend the deadline yet again, so long as it makes an announcement by 5.30pm on Sept 21.

As of Aug 14, the offeror controlled 76.2 per cent of Wheelock Properties, so the offer is unconditional. Wheelock Properties shares closed unchanged at $2.17 yesterday, implying that the market believes the offer price of $2.10 per share is too low.

Soilbuild Reit

Soilbuild Real Estate Investment Trust (Reit) announced the proposed acquisitions of an office in Canberra for A$55 million (S$54.1 million) and an Australian poultry processing plant for A$61.25 million, marking its maiden entry into the Australian market.

The former is a leasehold commercial office building at 14 Mort Street comprising a ground-level lobby and office accommodation, seven upper office levels and basement car parking for 62 vehicles. The total lettable floor area is 9,383.5 sq m.

The plant, Inghams Burton, is a substantial production and processing facility which includes high clearance and cold room and workshop facilities. Inghams Group Limited occupies the facility on a triple net lease expiring on Oct 28, 2034, with five further 10-year option periods. The total gross lettable area of the building is 21,424 sq m, and it is about 20km from the Adelaide central business district.

A version of this article appeared in the print edition of The Straits Times on September 08, 2018, with the headline 'Company Briefs: UOL'. Print Edition | Subscribe