OCBC, Great Eastern weighing proposals for United Engineers, WBL

Customers using the automated teller machines at OCBC bank in Tampines.
Customers using the automated teller machines at OCBC bank in Tampines.PHOTO: ST FILE

SINGAPORE - Oversea-Chinese Banking Corporation (OCBC) and Great Eastern (GEH) said that they have received proposals from several parties regarding their combined stakes in United Engineers and WBL Corporation.

In a statement issued on Thursday, the two companies said they are evaluating the proposals.

"OCBC Bank and GEH are in discussions with such parties, and there is no certainty that any transaction will materialise or that any agreement will be entered into," they said in a statement.