SINGAPORE (Feb 10): KKR & Co. and Malaysian conglomerate Samling Group are among suitors shortlisted in the bidding for United Engineers, the century-old Singapore property group, people with knowledge of the matter said.

Perennial Real Estate Holdings, Ascendas-Singbridge and an investment vehicle of Malaysian tycoon Lee Ming Tee were also invited to start due diligence, according to the people. Final bids for United Engineers, which has a market value of $1.9 billion, are expected to be submitted around the end of March, the people said, asking not to be identified because the information is private.

Shares of United Engineers jumped as much as 4.6% in Singapore trading Friday, hitting the highest level in two years. The company requested a trading halt, pending the release of an announcement. The city-state’s benchmark Straits Times Index was up 0.6% at 11.01am.

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