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No valuation done in disposal of UEL and WBL shares: Perennial

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Published Mon, Nov 4, 2019 · 09:50 PM

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Singapore

AMID raised eyebrows at the valuation of Perennial UW's disposal of its stake in United Engineers Limited (UEL) and WBL Corporation for S$202 million, the Singapore Exchange (SGX) on Monday queried Perennial Real Estate Holdings on how it had arrived at the valuation for the UEL and WBL shares.

Perennial replied that there was no valuer appointed for the transaction, and no valuation was conducted.

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