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INSIDE INSIGHTS

31 director acquisitions filed while STI recovers 2.4%

FOR the five trading sessions from June 7 to 13, the STI gained 2.4 per cent while the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaged a 1.5 per cent gain. This has brought the STI's 2019 total return through to June 13 to 7.2 per cent.

Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the five sessions ended June 13, with a total consideration of S$8.4 million, less than the preceding four sessions' S$23.3 million. OCBC, Olam International and Global Investments led the buyback tally.

Director and substantial shareholder transactions

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The five sessions spanning June 6 to 13 saw more than 120 changes in director interests or substantial shareholdings filed for approximately 50 primary-listed stocks.

There were 31 company director acquisitions and one disposal filed, with substantial shareholders filing 14 acquisitions and 12 disposals.

UOL Group

On June 4, Wee Investments Pte Ltd acquired another 383,300 shares of UOL Group for a consideration of S$2,584,856. This followed acquisitions of 1,136,700 shares between May 31 and June 3. The June 4 transaction increased the total interest of UOL Group's chairman Wee Cho Yaw in UOL Group to 36.873 per cent.

Likewise, UOL Group deputy chairman Wee Ee Lim and director Wee Ee Chao saw their total interests in UOL Group increase to 14.234 and 14.240 per cent respectively.

Mr Wee Ee Chao also serves as UOB-Kay Hian Holdings (UOBKH) chairman and managing director. He increased his total stake in UOBKH between June 11 and 12, which is now at 28.62 per cent. Mr Wee acquired 46,000 UOBKH shares for a consideration of S$55,200.

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.

AEM Holdings

On June 7, Standard Life Aberdeen plc (SLA plc) increased its deemed interest in AEM Holdings above the 8 per cent threshold, acquiring 669,300 shares of the provider of handling and test solutions. The consideration of the transaction totalled S$573,992. This increased the deemed stake of SLA plc in AEM Holdings from 7.8447 per cent to 8.0925 per cent.

SLA plc is the parent company of Aberdeen Asset Management Plc, a global asset management company that manages investments across the full spectrum of asset classes and geographic markets. Aberdeen Standard Investments (Asia) Ltd, based in Singapore since 1992, is the main regional investment arm of the Aberdeen Group.

Oxley Holdings

On June 7, Oxley Holdings executive chairman and CEO Ching Chiat Kwong acquired 1,666,800 shares of Oxley for a consideration of S$514,041. This took his total stake in the stock to 42.00 per cent.

Mr Ching is responsible for the formulation of corporate strategies, charting future growth plans and driving overall performance of the group. Apart from his commitments at Oxley, Mr Ching sits on the boards of Galliard (Group) Ltd, Pindan Group Pty Ltd and Aspen (Group) Holdings Ltd.

Heeton Holdings

Between June 7 and 13, Heeton Holdings deputy chairman and executive director Toh Giap Eng acquired 300,000 shares of the listed company for a consideration of S$132,922. This took his total interest in the real estate conglomerate to 39.69 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.

GSH Corporation

On June 12, GSH Corporation Ltd executive chairman Sam Goi Seng Hui acquired 311,900 shares of the listed company for a consideration of S$106,046. This increased his total interest in GSH Corporation to 59.76, and follows his acquisition of 64,069,900 shares between March 28 and April 4. He has gradually increased his interest in the property developer from 47.32 per cent at the end of 2014.

Perennial Real Estate Holdings

On June 12, Perennial Real Estate Holdings executive director and CEO Pua Seck Guan acquired 103,100 shares of the listed company for a consideration of S$64,767. This increased his total interest in the integrated real estate and healthcare company to 10.37 per cent. Mr Pua also serves as an executive director of Wilmar International and non-executive director of United Engineers.

SLB Development

On June 10, Lian Beng Group acquired a total of 429,900 shares of SLB Development for a consideration of S$59,558. This took its total interest in SLB Development, its Catalist-listed property developer spin-off, to 74.85 per cent. Ong Sek Chong & Sons Pte Ltd, Ong Pang Aik and Ong Lay Huan are the controlling shareholders of Lian Beng Group.

Centurion Corporation

Between June 6 and 7, Centurion Corporation non-executive director David Loh Kim Kang acquired 100,000 shares of the listed company for a consideration of S$40,500. This took his total stake in Centurion Corporation from 56.899 per cent to 56.911 per cent. Mr Loh has been a principal and director of Centurion Global Ltd, a controlling shareholder of the company since April 2008.

Singapore Medical Group

On June 11, Singapore Medical Group (SMG) independent director Stefanie Yuen Thio acquired 100,000 shares of the listed company for a consideration of S$39,500. This took her direct interest in SMG to 0.02 per cent.

Ms Yuen Thio is the joint managing partner of TSMP Law Corporation and heads its corporate practice.

Apart from SMG, she also sits on the board of ESR Funds Management (S) Ltd which manages ESR-Reit.

Revez

June 10 marked the first day of trading for Revez Corporation (Revez) following the reverse takeover of Jason Holdings.

Revez delivers immersive and interactive virtual and multimedia experiences, and cutting-edge software solutions. It specialises in the design and development of integrated suite of solutions by tapping new technology, immersive multimedia, artificial intelligence, Internet of Things, information and communications technology, Software-as-a-Service, as well as creative and content service.

The three co-founders of Revez are executive director, CEO, and deputy board chairman Victor Neo Wee Han, executive director and COO Lim Kian Seng and executive director and chief creative technology officer Lee Han Chong. Each of these three executive directors maintains a 33.33 per cent interest in L3N Capital Pte Ltd.

L3N Capital holds a 53.80 per cent interest in Revez. In addition to the 53.80 per cent deemed interests in Revez, Mr Neo maintains a 5.70 per cent direct interest; Mr Lim maintains a 5.00 per cent direct interest, with Mr Lee also maintaining a 5.00 per cent direct interest. Non-executive director Lim Chwee Kim mantains a 12.2 per cent direct interest in Revez.

Since its establishment in 2010, Revez has grown into a full service company providing a multi-disciplinary blend of technology and creative media, with a proven track record in handling government projects.

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