United Engineers names Yanlord chairman and Perennial CEO as new directors

UNITED Engineers (UE) on Tuesday announced the appointment of new directors - chairman and CEO of Yanlord Land Group, Zhong Sheng Jian, as a non-independent and executive director as well as CEO of Perennial Real Estate Holdings and chief operating officer of Wilmar, Pua Seck Guan, as a non-independent and non-executive director.

This follows the takeover offer by a consortium led by Perennial Real Estate and Yanlord for UE that was triggered in July. The consortium is offering S$2.60 per UE ordinary share and preference share each. The offer closed on Tuesday evening.

UE's counter ended flat at S$2.72 on Tuesday.