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HOCK LOCK SIEW

UE now a pure property play

Slimmed down, the conglomerate is ready to be sold; but whether a buyer will emerge is another matter

CONGLOMERATES have long been cursed with a discount as investors dislike how disparate businesses can be lumped confusingly together. In the case of United Engineers (UE), one of the oldest conglomerates in Singapore, this state of affairs is almost at an end.

With the sale of its Nasdaq-

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