UOL Group
{{short description|Singaporean real estate organisation}}
{{Use dmy dates|date=December 2023}}
{{Infobox company
| name = UOL Group Limited
| logo = UOL Group.png
| image = United Square, Singapore.jpg
| image_caption = Headquarters at United Square in Singapore
| former_name = {{unbulleted list|
Faber Union Limited|United Overseas Land Limited}}
| type = Public
| traded_as = {{sgx|U14}}
| predecessors =
| industry = Real estate
| foundation = {{start date and age|df=y|1963}}
| location = Singapore
| key_people = {{unbulleted list|Liam Wee Sin (Group chief executive officer)}}
| revenue = {{Increase}} {{SGD|2606836000}} (FY 2021)
| net_income = {{Increase}} {{SGD|499405000}} (FY 2021)
| assets = {{Increase}} {{SGD|21274971000}} (FY 2021)
| equity = {{Increase}} {{SGD|14616075000}} (FY 2021)
| num_employees = 1,500 (FY 2021)
| subsid = {{unbulleted list
| Pan Pacific Hotels and Resorts}}
| products = Real estate development
Real estate investment management
| homepage = {{URL|uol.com.sg}}
}}
UOL Group Limited ({{zh|s=华业集团有限公司|p=Huáyè Jítuán Yǒuxiàn Gōngsī}}), is a Singaporean headquartered company focusing on investment, development and management of real estate across the Asia-Pacific region. The Wee Family, significant shareholders of United Overseas Bank are the largest shareholders of the company.{{Cite web |title=UOL Group Ltd. |url=https://asia.nikkei.com/Companies/UOL-Group-Ltd |access-date=11 December 2022 |website=Nikkei Asia |language=en-GB}} The company is a constituent member of the Straits Times Index.
History
The company was founded in 1963 as Faber Union Limited, a subsidiary of Faber Union (HK) Limited.{{Cite web |last=marten |date=21 January 2016 |title=CFI.co Meets the Group Chief Executive of UOL Group: Gwee Lian Kheng |url=https://cfi.co/corporate-leaders/2016/01/cfi-co-meets-the-group-chief-executive-of-uol-group-gwee-lian-kheng/ |access-date=11 December 2022 |website=CFI.co |language=en-US}} It became a publicly traded company on the Singapore Exchange in 1964.{{Cite web |last=Tai |first=Ian |date=13 September 2018 |title=Is UOL Group Ltd An Attractive Stock Right Now? |url=https://valueinvestasia.com/is-uol-group-ltd-an-attractive-stock-right-now/ |access-date=11 December 2022 |website=Value Invest Asia |language=en-US}}
In 1975, the company changed its name to United Overseas Land Limited after Wee Cho Yaw and United Overseas Bank acquired a controlling interest in the company in 1973.
In 2002, the company acquired Parkroyal, a hotel and property company.{{Cite web |title=Singapore Developers |url=https://projectshomes.com/developers |access-date=11 December 2022 |website=Projects Homes {{!}} Your Life, Your Dream, Your Home |language=en-US}}
In 2006, the company was renamed to UOL Group Limited.
In 2007, UOL Group Limited acquired Pan Pacific Hotels and Resorts from the Tokyu Group, and renamed it to Pan Pacific Hotels Group.{{Cite web |title=UOL Group Acquires Pan Pacific Brand from Tokyu Corporation |url=https://www.hotelexecutive.com/newswire/10412/uol-group-acquires-pan-pacific-brand-from-tokyu-corporation |access-date=11 December 2022 |website=www.hotelexecutive.com |language=en}} The company then merged Parkroyal with Pan Pacific for its hotel brand.
In 2013, the company decided to delist Pan Pacific Hotels and Resorts from the Singapore Exchange.
In 2018, the company acquired Singapore Land Group Limited (SingLand).{{Cite web |title=UOL Group's Singapore Land bid to close early 2018 |url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/hhdelEp1X4K7UysYwVs0Vg2 |access-date=11 December 2022 |website=www.spglobal.com |language=en-us}}{{Cite web |last=Lee |first=PC |date=4 January 2018 |title=UOL offer for SingLand closes with 99.8% stake |url=https://www.edgeprop.sg/property-news/uol-offer-singland-closes-998-stake}}
Group structure
The company has the following business segments:
- Property development – development of properties for sale
- Property investments – leasing of commercial properties and serviced suites
- Hotel operations – operation of owned hotels
- Investments – investment in quoted and unquoted financial assets
- Technology operations – the distribution of computers and related products
- Management services – provision of hotel management services
Notable properties
Properties that the company currently owned or previously owned include:
- Heron Plaza{{Cite web |date=13 August 2014 |title=Gerald Ronson sells Heron Plaza site to Singapore's UOL for £97m |url=https://www.cityam.com/gerald-ronson-sells-heron-plaza-site-singapore-s-uol-97m/ |access-date=11 December 2022 |website=CityAM |language=en-GB}}
- Mandarin Oriental, Singapore
- Marina Square
- Pan Pacific Singapore Hotel
- Pan Pacific Sonargaon
- Pan Pacific Suzhou
- Parkroyal Collection Pickering
- Parkroyal Collection Marina Bay, Singapore
- The Plaza
- West Mall
References
{{Reflist}}
External links
- {{official website|https://www.uol.com.sg}}
{{FTSE STI constituents}}
{{authority control}}
{{DEFAULTSORT:UOL Group}}
Category:Real estate companies of Singapore
Category:Multinational companies headquartered in Singapore
Category:Financial services companies established in 1963
Category:1963 establishments in Singapore
Category:Companies listed on the Singapore Exchange