United Engineers

[greengiraffe]

Never quarrel with Mr Mkt... You have done it, you pay... but with the clobbering of UE and the pending re-cap via rights issues and the evergreen backing of Rock solid bankers and insurers, the time for value picking is nearing...

Akan Datang
Vested
Odd lots
GG

[greengiraffe]

http://infopub.sgx.com/FileOpen/WBL_3Q_r...eID=249343

Seriously, apart from ego, I really don't know why UE went all out for WBL and have to constantly bear with all the earnings volatility from non-synergistic arms...

[felixleong]

lol profit warnings, just plain horrible management destroying shareholder value

[propertyinvestor]

Whats wrong? UE has a close relation with OCBC. They could borrow million of dollars from them at low interest and take on more risk than normal if they like. Now OCBC is even willing to convert loans due to them into equity. I doubt any property company in Singapore can enjoy such a privilege.

[DP28]

Fundamentally UE is a very strong company with healthy balance sheet (trading at 38% discount to NAV or something).. However, Jackson yap has little UE shares to begin with (less than 3% correct me if I wrong). Hence there's a huge misalignment of interest between major shareholders like OCBC, public shareholders like you and me and himself the one who runs the company. This could be one of the lesson from value investing.. No matter how good the company can be, if run by someone whose vesting interest is not in line with the share price, then there's the risk to assume.

I still like an OCBC back company. You never know what kind of deal they maybe cooking up.. Could be another spin off like F&N or something.

Wait and see.

[sgpunter]

At current prices, I see great value although UE unlocks that value remains to be seen.

The counter is currently still halted I suspect pending another announcement from UE. Probably an announcement relating to how WBL's results will affect theirs...a possible profit warning...

Looking to accumulate if prices drop more...

[DP28]

XR on 20th August, Hoping to get a steal.

[valerene]

hi hi..i am an existing shareholder and this is the first time i encounter the rights issue.
understand there is a deadline for 20 august, what do i need to do meantime? I did not receive any documents after the call for EGM documents? appreciate fellow buddies advice.

[pianist]

XR on 20th August, Hoping to get a steal.

how to get a steal?

[felixleong]

if it trades below $1.50?
actually even if $1 I also wouldn't buy
horrible management