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Perennial Real Estate confirms interest in United Engineers

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PERENNIAL Real Estate Holdings Ltd has confirmed its interest in property group United Engineers Ltd.

PERENNIAL Real Estate Holdings Ltd has confirmed its interest in property group United Engineers Ltd.

Singapore-listed Perennial said in a Thursday release before market close to the Singapore Exchange (SGX) that "it had, as part of a consortium, submitted a proposal in relation to United Engineers Limited".

This comes after media reported that Perennial has been picked by Oversea-Chinese Banking Corporation (OCBC) and Great Eastern (GEH) to take over their holdings in United Engineers.

"There is no certainty or assurance that any transaction will materialise or that any definitive or binding agreement will be entered into," said Perennial in Thursday's statement.

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The statement was issued in response to SGX's queries about its unusual price movements of its shares on the main board.

Perennial's counter opened on Thursday at S$0.86, and had risen 4.5 per cent to S$0.905 as of 4.33pm.

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