Hot stock: United Engineers up 5% on news of interest in OCBC, Great Eastern's stakes

UNITED Engineers rose 13 Singapore cents or 4.9 per cent to S$2.76 at 10.10 am on Thursday.

This was after news that OCBC and Great Eastern have received proposals from several parties for their combined stakes in United Engineers and WBL Corporation, and are evaluating these proposals and in discussions with these parties.

Nearly 1.6 million shares of the property, engineering and construction company changed hands. It was also among the top 20 gainers on the market.