, Columnist
A Lowball Singapore Takeover
OCBC appears unaccountably keen to offload chunks of its late founder's empire on the cheap.
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If he were alive today, the rubber and pineapple king of 1930s Singapore would surely be asking whether the custodians of his empire just sold another chunk of it too cheaply.
That's the unavoidable conclusion from the drama surrounding the takeover of United Engineers Ltd., where a general offer is flirting with failure after the emergence of a rival buyer willing to pay more than the price accepted by Oversea-Chinese Banking Corp.