Questions surround P99's valuation of former UE unit

THE Singapore Exchange (SGX) might soon gain a new listing in the form of environmental engineering group UES Holdings (UESH), if plans by P99 Holdings to acquire the firm through a reverse takeover comes to pass.

But first, there are questions surrounding the valuation of UESH that P99 shareholders would want answers to.

UESH, part of SGX-listed United Engineers (UE) till September last year, is an established water engineering firm in the region. Based in Singapore, it has regional operations in Indonesia, Cambodia, Vietnam, Myanmar and China.