United Engineers

United Engineers: stock is +1.2% at $2.50, extending its 52wk high run, partially driven by positive news that one of its units is part of a JV which submitted the top bid for the Prince Charles Crescent residential site (see our 9.03am post for details). The $516.3m bid was jointly submited by Wingstar Investment, Metro Australia and Maxin. Wingstar is a wholly owned subsidiary of Wing Tai. Maxdin is a wholly owned subsidiary of UE E&C (also up 0.8% at $0.67 today), which is a 68.2% unit of United Engineers.