Oxley rules out bidding for UEL despite owning 14% stake

Singapore

OXLEY Holdings has reiterated that it has no plans to make a bid for United Engineers (UEL) even though it has already accumulated about 14 per cent of the company in the last few months.

The confirmation was in response to a query from The Business Times, following the lapse of the offer by Perennial Real Estate Holdings and Yanlord Group.