 In the mid-2000s, Wee faced a challenge to maintain his family's control over various companies in the UOB group amid a restructuring of the companies’ interlocking shareholdings.This situation arose after the government mandated that banks would have to reduce their shareholdings in non-core businesses to stipulated levels.As companies such as United Overseas Land (UOL), Overseas Union Enterprise (OUE), United Industrial Corporation (UIC) and Haw Par Corporation held stakes in UOB and vice versa, the loss of any one would weaken the Wee family's control of the group and even the core business of UOB.