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INSIDE INSIGHTS

29 director acquisitions filed while STI rallies 2.9%

FOR the five trading sessions from June 14 to 20, the Straits Times Index (STI) rallied 2.9 per cent, adding to the preceding five session gain of 2.4 per cent.

Over the past five sessions, the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaged a 2.6 per cent gain.

The consistent gains over the past two weeks have brought the STI's 2019 total return through to June 20 to 10.3 per cent.

Share buybacks

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There were 12 primary-listed stocks conducting share buybacks over the five sessions ended June 20, with a total consideration of S$12.5 million, higher than the preceding five session's S$8.4 million.

OCBC, Keppel Reit and Olam International led the buyback tally. Both KSH Holdings and Goodland Group commenced new buyback mandates.

Director and Substantial Shareholder Transactions

The five sessions spanning June 14 to 20 saw approximately 140 changes in director interests or substantial shareholdings filed for close to 50 primary-listed stocks.

There were 29 company director acquisitions and eight disposals filed, with substantial shareholders filing 17 acquisitions and four disposals.

Parkway Life Reit

On June 14, the deemed interest of Cohen & Steers Inc in Parkway Life Reit (PLife Reit) exceeded the 8 per cent threshold.

This was due to its wholly owned subsidiary, Cohen & Steers Capital Management Inc purchasing 1,491,000 units in PLife Reit.

The consideration of the transaction was S$4,547,550 and took the interest of Cohen & Steers Inc in PLife Reit from 7.85 per cent to 8.10 per cent.

Neither Cohen & Steers Inc nor any of its affiliates is the registered holder of any shares of Parkway Life Reit.

Cohen & Steers, Inc exceeded the 5 per cent substantial unit holder threshold interest in PLife Reit earlier this year, on Jan 23.

Earlier this month, the head of US interest rates at Cohen & Steers maintained that Reits are well positioned to defend in a trade war due to their domestic focus, predictable revenues, solid fundamentals and easing pressure from interest rates.

First Sponsor Group

Between June 17 and 19, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong increased his deemed interest in the listed company by 973,900 shares for a consideration of S$1,260,246.

This took Mr Ho's total stake in FSGL to 45.72 per cent.

Mr Calvin Ho was appointed as the non-executive chairman of the company in April 2015, and prior to this, served as the non-executive vice-chairman of the company since October 2007.

On June 17, FSGL alternate director to non-executive chairman, Ho Han Khoon, acquired 100,000 shares of the listed company for a consideration of S$128,045 increasing his total interest in FSGL to 36.26 per cent.

Mr Ho Han Khoon was appointed as an alternate director to Mr Ho Han Leong Calvin on May 19, 2014.

He is currently holding the position of an executive vice-president of Tai Tak, where he is responsible for overseeing Tai Tak group's overall business and financial strategy, investments and operations.

Raffles United Holdings

On June 13, Raffles United Holdings substantial shareholder Amanda Marie Teo Xian-Hui acquired 13,465,000 shares of the listed company for a consideration of S$740,575.

This took Ms Teo's direct interest in the listed company to 42.50 per cent.

With her 38.83 per cent deemed interest, this takes her total interest in the distributor and retailer of bearings and seals, to 81.33 per cent.

Heeton Holdings

On June 14, Heeton Holdings deputy chairman and executive director Toh Giap Eng acquired 600,000 shares of the listed company for a consideration of S$263,934.

This took his total interest in the real estate conglomerate to 39.88 per cent.

At Heeton Holdings, Mr Toh identifies and secures investment and development properties in new markets, explores and develops related or new businesses as well as assists the chairman in the overall stewardship and governance of the group.

UOB-Kay Hian Holdings

Between June 14 and 18, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 28.63 per cent.

Mr Wee acquired 123,300 UOBKH shares for a consideration of S$147,960.

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

Mr Wee has been closely involved in the management and growth of UOBKH over the last 33 years.

Perennial Real Estate Holdings

On June 13, Perennial Real Estate Holdings executive director and CEO Pua Seck Guan acquired 134,900 shares of the listed company for a consideration of S$84,758.

This increased his total interest in the integrated real estate and healthcare company to 10.38 per cent.

Mr Pua also serves as an executive director of Wilmar International and non-executive director of United Engineers.

Avi-Tech Electronics

Between June 17 and 18, Avi-Tech Electronics CEO Lim Eng Hong acquired a total of 200,000 shares of the listed company for a consideration of S$54,400.

This increased his total stake in the total solutions provider for the semiconductor, electronics and life sciences industries from 35.7388 per cent to 35.856 per cent.

Mr Lim had previously acquired approximately 800,000 shares between Aug 29 and Sept 20, 2018.

Mr Lim has more than 40 years of experience in the semiconductor industry and oversees the group's overall business activities.

He has also been particularly involved in the development of the strategies behind the group's diversification into other related business areas.

Union Gas Holdings

On June 17, LK Tang Pte Ltd acquired 100,000 shares of Union Gas Holdings for a consideration of S$24,000.

LK Tang is wholly-owned by Union Gas Holdings' founder and non-executive chairman, Teo Kiang Ang.

The transaction took his total interest in Union Gas Holdings from 65.28 per cent to 65.32 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.

LY Corporation

Between June 14 and 18, LY Corporation executive chairman Tan Kwee Chai acquired 75,200 shares of the listed company for a consideration of S$15,677.

This took his total stake in the manufacturer and exporter of wooden bedroom furniture to 72.24 per cent.

Mr Tan is one of LY corporation's founders and has been in the furniture manufacturing and design industry for more than 40 years.

He is responsible for the group's overall management and operations, including formulating the group's strategic directions and expansion plans.

CosmoSteel

Between June 13 and 14, CosmoSteel executive director Ong Tong Hai acquired 100,000 shares of the listed company for a consideration of S$8,730.

This took his total interest in the distributor of piping system components to 11.81 per cent.

He has gradually increased his interest in CosmoSteel from 10.52 per cent at the end of 2018.

Mr Ong joined CosmoSteel in 1998 and spearheads the development and implementation of policies and procedures to enhance the effectiveness and efficiency of the group's logistics and operations functions.

Since joining the group, he has been largely involved in inventory and warehousing logistics and management, information systems and technology management and administration.

The company also announced recently that Mr Ong Tong Hai will assume the position of CEO following Ong Chin Sum giving his notice of his intention to retire as CEO and executive director of the company after serving out a notice period of six months from June 19.

TrickleStar

On June 18, TrickleStar debuted on Catalist.

The company designs and supplies affordable, energy-saving products that help consumers reduce energy consumption in their homes and workplaces.

Its portfolio of energy-saving products includes Advanced Powerstrips, load controllers, energy meters, energy monitors and surge protectors.

TrickleStar executive chairman and CEO Bernard Emby maintains a total interest of 61.47 per cent in TrickleStar.

The highly experienced entrepreneur and electrical industry expert with over 20 years of experience noted that the listing of TrickleStar will enable it to access capital for its next growth phases as it forges ahead to increase its market share, develop new markets and products, push the envelope in energy efficiency technology and applications, and deliver value to its shareholders.

  • The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit sgx.com/research.