“Market Cap $4.17 B As of May 2013
At a Glance
- Industry: Real Estate
- Founded: 1963
- Country: Singapore
- CEO: Cho Yaw Wee
- Website: www.uol.com.sg
- Employees: 1,154
- Sales: $919 M
#1996 Global 2000
- #859 in Profit
UOL Group Limited (UOL) is engaged in investments in properties, subsidiaries, associated companies, listed and unlisted securities and property development. The Company operates in three segments: property development, property investments and hotel operations. UOL Group is a property company with a portfolio of development and investment properties, hotels and serviced suites. UOL, through its hotelsubsidiary Pan Pacific Hotels Group Limited (PPHG), owns two brands Pan Pacific and PARKROYAL. As of December 31, 2011, PPHG owned and/or managed over 25 hotels in Asia, Australia and North America with over 8,000 rooms in its portfolio. In March 2012, its subsidiary, UOL Capital Investments Pte. Ltd., incorporated UOL Business Consulting (Shanghai) Co., Ltd. In July 2012, it incorporated Secure Development Pte. Ltd in Singapore. In December 2012, the Company’s subsidiary, UOL Venture Investments Pte. Ltd. (UVI) had incorporated a subsidiary, United Venture Investment (Thomson) Pte. Ltd.”
“UOL Group History
- Faber Union Ltd was incorporated in 1963 as a subsidiary of Faber Union (HK) Ltd.
- In 1975, it changed its name to United Overseas Land Limited after United Overseas Bank Ltd acquired a controlling interest in the Company in mid-1973.
- In 2006, United Overseas Land Limited was renamed UOL Group Limited.
- The company has been helmed by Chairman Wee Cho Yaw since 1973.
- In the 70s and 80s, United Overseas Land Limited was known for its prestigious landed developments such as Faber Gardens, FaberHills, Thomson Hills, White House Park, Watten Hills and Mount Echo Park. The high-rise condominiums included Cairnhill Plaza and Orchard Bel-Air, both in prime Orchard precinct.
- In the mid-90s, United Overseas Land Limited developed landed properties such as Westwood Park and Island Country Villas.
- From 2000 onwards, the company experienced rapid growth phase. It transformed precincts of Novena and Tiong Bahru – including 1 Moulmein Rise, Novena Suites and Newton Suites in Novena and Twin Regency, Regency Suites and The Regency at Tiong Bahru in Tiong Bahru.
- In the same decade, there was an aggressive land acquisition which covered the spectrum of Nassim (super-luxury); Duchess and Newton (high-end); Spottiswoode (inner city); Tiong Bahru, East Coast, Upper Thomson (mid-end) and Simei (suburban).
- It also expanded overseas in Malaysia and China.
- As part of continual asset enhancement, UOL Building was redeveloped to Pan Pacific Serviced Suites in 2008.
- In 2002, United Square shopping mall rebranded as the Kids Learning Mall.
- In 2003, Odeon Towers added a two-storey retail podium.
- In 2006, Novena Square added a new wing and rebranded to Velocity@Novena Square, a sports and lifestyle mall.
- In 1971, the first hotel was established – Plaza Hotel.
- The second hotel was acquired in 1989 – New Park Hotel.
- In the 1990s, the Group established its presence in Australia with five hotels – Parkroyal at Darling Harbour, Parkroyal Parramatta, Parkroyal Plaza, The Landmark Parkroyal, all in Sydney, and Sheraton Perth in Perth.
- The Group made its foray into China in 1996 with the opening UOB Building in Xiamen.
- In 2001, the Group acquired three hotels, including Sheraton Suzhou Hotels & Towers, Sofitel Plaza Hanoi and Sofitel Plaza Yangon.
- The Group acquired Parkroyal brand in 2002 and Pan Pacific brand in 2007.
- In 2008, the Group launched its first Pan Pacific brand extended stay accommodation – Pan Pacific Serviced Suites Singapore in Somerset.
- In 2009, the Group renamed its listed hotel-subsidiary from Hotel Plaza Limited to Pan Pacific Hotels Group Limited to ride on the Pan Pacific brand equity and international recognition.”
*Information from Forbes.com and Uol.com.sg
**Video published on YouTube by “UOLGroupLimited“