OCBC/ United Engineers

OCBC: OCBC is in talks to sell its stake in United Engineers to Thai billionaire Charoen Sirivadhanabhakdi, people familiar with the matter said. Discussions are at an early stage. OCBC, its insurance unit and the bank’s founding Lee family together own 34.1% of United Engineers, according to a filing in August last year. Selling the stake would help OCBC, bolster capital after its $5b takeover of Wing Hang Bank. United Engineers: NAV as at 30 Jun stood at $2.79. At the current $2.41, UE is valued at 0.86x P/B, compared to its 1-year historical P/B of 0.7x.