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Hot stock: United Engineers up 3.2% to S$2.61

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PROPERTY play United Engineers, said to be pursued by Riady-backed OUE Ltd, rose 3.2 per cent or eight cents to S$2.61 on Wednesday morning. The Singapore Exchange has also queried the firm on its trading activity

By 10.17am, over two million shares worth S$5.5 million have been traded.

The counter had opened 11 cents higher at S$2.64. On Tuesday, reports said OUE was interested in the firm. OCBC bank and its insurance arm Great Eastern Holdings have said they were reviewing their stakes in United Engineers.