24 director acquisitions filed & 15 stocks conduct buybacks

FOR the five trading sessions from March 22 to 28, the STI declined 0.3 per cent, in line with regional indices Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 which averaged a 0.6 per cent decline. This has brought the STI's 2019 total return through to March 28 to 4.8 per cent.

Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the five sessions ended March 28. The consideration totalled S$11.0 million, similar to the S$11.1 million for the preceding five sessions.

Buyback consideration was again led by Oversea-Chinese Banking Corporation and Hong Fok Corporation, with Singapore Post, Global Investments and Bumitama Agri making up the remainder of the top five by buyback consideration.

Director and substantial shareholder transactions

The five sessions spanning March 22 to 28 saw approximately 120 changes in director interests or substantial shareholdings filed for close to 40 primary-listed stocks. There were 24 company director acquisitions and no disposals filed, with substantial shareholders filing 18 acquisitions and four disposals.

First Sponsor Group

Between March 26 and 27, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong increased his deemed interest in the listed company by 1,224,100 shares for a consideration of S$1,580,445. This took Mr Ho's total stake in FSGL to 45.22 per cent.

FSGL is supported by both its established key controlling shareholders, the Hong Leong Singapore Group of companies, through its shareholding interests in Millennium & Copthorne Hotels plc, and Tai Tak Estates Sendirian Berhad. Mr Ho was appointed as the non-executive chairman of the company in April 2015. Prior to this, he served as the non-executive vice-chairman of the company since October 2007.

AEM Holdings

UBS AG acquired 540,200 shares of AEM Holdings for a consideration of S$674,685 on March 22. This saw UBS AG increase its total interest in AEM Holdings, which includes deemed interests, above the substantial shareholder threshold, from 4.85 per cent to 5.05 per cent. On March 26, UBS AG then disposed of 270,900 shares of AEM Holdings for a consideration of S$321,283, reducing its total interest to 4.96 per cent.

On March 21, AEM Holdings announced it had now received sales orders worth S$174 million for delivery in FY19. Previously, with the release of its FY18 results on Feb 22, the provider of test and handling solutions had reported that S$140 million in sales orders had been received for FY19 delivery.

UOB-Kay Hian Holdings

Between March 21 and 26, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH, which stands at 28.28 per cent as at March 26.

Mr Wee acquired 247,370 UOBKH shares for a consideration of S$309,213.

The UOBKH chairman has gradually increased his total stake from 26.51 per cent at the end of 2017.

Hai Leck Holdings

On March 25, Hai Leck Holdings (Hai Leck) founder and executive chairman, Cheng Buck Poh acquired 64,100 shares of the listed company for a consideration of S$32,211. This took his total interest in the integrated services provider from 84.11 per cent to 84.14 per cent.

Mr Cheng is responsible for charting corporate directions and strategies for Hai Leck.

His total interest in Hai Leck was 83.34 per cent at the end of August 2018.

Mr Cheng started Hai Leck Engineering as a sole proprietorship in 1971.

Hong Lai Huat Group

Between March 26 and 27, Hong Lai Huat Group deputy chairman and CEO Ong Bee Huat acquired 434,700 shares of the listed company for a consideration of S$106,418. This increased his direct interest in Hong Lai Huat Group from 17.996 per cent to 18.192 per cent.

This followed Dr Ong acquiring 2,086,600 shares of the listed company for a consideration of S$523,070 between March 1 and 6. He is the founder of the group and is responsible for its overall strategic direction and planning as well as business development.

He has gradually increased his direct interest in Hong Lai Huat Group from 15.02 per cent in early May 2018.

Union Gas Holdings

Between March 22 and 27, LK Tang Pte Ltd acquired 166,100 shares of Union Gas Holdings for a consideration of S$42,356.

LK Tang is wholly-owned by Union Gas Holdings' founder and non-executive chairman, Teo Kiang Ang. The transactions took his total interest in Union Gas Holdings from 65.11 per cent to 65.18 per cent.

Having founded the business as a sole proprietorship in 1974, Mr Teo has more than 40 years of experience in the LPG market in Singapore and is responsible for formulating the group's strategic focus and direction.

For FY18 (ended Dec 31), the Catalist-listed stock reported that its net profit increased 84.9 per cent to S$6.4 million as revenue rose 43.8 per cent to S$56.4 million.

Singapore eDevelopment

Between March 21 and 22, Singapore eDevelopment (SeD) executive chairman and CEO Chan Heng Fai acquired 521,200 shares of SeD for a consideration of S$18,105.

Mr Chan, who has restructured over 35 companies in various industries and countries in the past 40 years, maintains a total interest in SeD of 70.1 per cent. The global business veteran has gradually increased his interest in SeD from 68.74 per cent in March 2018.

Katrina Group

On March 26, Katrina Group (Katrina) founder, executive chairman and CEO Alan Goh Keng Chian acquired 62,000 shares of the Catalist-listed stock at an average price of S$0.1959 per share. The consideration of the transaction totalled S$12,146.

This took Mr Goh's total interest in the F&B group with multi-cuisine concepts from 87.51 per cent to 87.53 per cent. He has gradually increased this interest from 84.67 per cent with multiple acquisitions since the beginning of March 2018.

Mr Goh heads the formulation of the group's strategic directions and expansion plans in Singapore and overseas markets, and manages the group's overall business development.

He is also responsible for implementing its goals and objectives identifying new business opportunities and sourcing for new strategic outlet locations within Singapore and overseas.

Fortress Minerals

Fortress Minerals, a producer of high grade mineral ore in Malaysia, listed on Catalist on March 27. The group produces high grade iron ore concentrate (TFE 65.0% and above) from iron ore mined from its Bukit Besi Mine located in Trengganu, Malaysia. The iron ore concentrate is then sold to steel mills and trading companies in the People's Republic of China and Malaysia.

The group's shares opened at S$0.220, with an intraday high of S$0.220, and closed the day at S$0.215, 7.5 per cent higher than the IPO price of S$0.200 per share. A total of 2,661,400 shares changed hands during the day and the closing price put the group's market capitalisation at S$107.5million.