UEL's cash offer for WBL a 'cautious, risk-management approach'

Singapore

BY using United Engineers (UE) to make a cash offer for WBL, the Yanlord Perennial consortium which took control of UE and bought a small stake in WBL in July appears to be taking a more cautious approach to its recent investment.

Smartkarma insight provider Foo Sze Ming wrote in a note on Friday: "This transaction is not exactly the outcome that we have previously envisaged. It appears that Yanlord Perennial Investment (YPI) has chosen to take a more cautious, risk-management approach towards its UEL investment."