SINGAPORE (June 1): Oversea-Chinese Banking Corp (OCBC) and its insurance arm, Great Eastern Holdings (GEH), say they have received proposals from “several parties” regarding their combined stakes in United Engineers (UEL) and WBL Corporation.

(See also: United Engineers owners said to pick Pua's Perennial for final talks)

The duo stressed that they are still in the midst of evaluating these proposals and are in discussions with such parties and there is no certainty that any transaction will materialise or that any agreement will be entered into, say the two in a joint release issued on Thursday.

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