United Engineers, OUE in play on stake talk

Singapore

DEVELOPER OUE said on Wednesday that it is not involved in any ongoing discussions to buy a stake in United Engineers (UE), but shares in both companies remained in play nevertheless.

On Wednesday morning, UE opened 11 cents higher at S$2.64. It then traded between S$2.69 and S$2.57 before closing at S$2.61, up eight cents or 3.2 per cent. Some 5.6 million shares worth S$14.7 million changed hands.