UOL’s chairman, Wee Ee Lim, and director, Wee Ee Chao, have bought more shares in the company from the open market via Wee Investments. Both brothers are deemed to be interested in the firm's shares. Wee Ee Chao is also the CEO and director of Kheng Leong Company, the Wee family's privately held real estate development and investment company. Their father was the late billionaire banker Wee Cho Yaw, who passed away in February.

On June 27, Wee Investments bought 163,700 shares for $851,102.49 or $5.19916 per share. On June 28, the firm bought another 263,000 shares for $1.37 million or $5.199 per share.

Following the acquisitions, Wee Investments' stake in UOL is now at 15.79%, up 0.05% from 15.74% before June 27.

Read also: [UPDATE] Group behind Hotel 81 buys UOL's Parkroyal Kitchener Hotel for $525 mil

Shares in UOL closed 2 cents higher or 0.38% up at $5.27 on July 5.