Wee now holds 29.71% and 34.88% of total number of ordinary voting shares in UOL Group and Haw Par Corp respectively.

Wee Ee Lim has received 115 million shares in UOL Group and 1.64 million shares in Haw Par Corporation H02 from Wee Cho Yaw’s estate, according to bourse filings dated Mar 7. 

Wee is the younger son of the late banking magnate Wee Cho Yaw. He is a chairman at UOL Group and CEO of Haw Par Corporation. 

Earlier today, Bloomberg reported that the estate of Wee Cho Yaw, the late patriarch of United Overseas Bank U11 (UOB) transferred control of the remaining shares it held to his heirs. 

The estate relinquished control over the lender and family’s real estate arm UOL Group according to filings on Wednesday. 

As such, the younger Wee’s deemed interest in UOL Group has increased to 250.3 million shares, or 29.71% of the total number of ordinary voting shares. 

His deemed interest in Haw Par Corporation has increased to 76.6 million shares, or 34.88% of the total number of ordinary voting shares. 

The younger Wee holds more than 20% of the voting shares in C.Y. Wee & Company, which are the family’s holding companies owned wholly by Wee Cho Yaw’s wife, three sons and two daughters.

Shares in UOL Group closed 9 cents higher or 1.573% up at $5.81 on Mar 7, while shares in Haw Par Corporation closed 8 cents higher or 0.621% up at $12.96 on Mar 7.