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INSIDE INSIGHTS

34 director acquisitions filed as STI recovers 2% in line with region

FOR the five trading sessions spanning Aug 30 to Sept 5, the Straits Times Index (STI) gained 2.0 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 2.6 per cent gain.

This has brought the STI's 2019 total return through to Sept 5 to 6.2 per cent.

Share buybacks

There were 14 primary-listed stocks conducting share buybacks over the five sessions ended Sept 5, with a total consideration of S$10.4 million, less than the preceding five sessions' S$30.8 million.

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Total share buyback consideration for the month of August totalled S$70.1 million, up from S$41.6 million in July.

Director and substantial shareholder transactions

The five sessions spanning Aug 30 to Sept 5 saw 170 changes in director interests or substantial shareholdings filed for approximately 50 primary-listed stocks.

There were 34 company director acquisitions and seven disposals filed, with substantial shareholders filing 22 acquisitions and eight disposals.

UOB-Kay Hian Holdings

Between Aug 29 and Sept 4, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.33 per cent.

Mr Wee acquired 341,400 shares for a consideration of S$406,856 at an average price of S$1.1917 per share.

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

Sing Investments & Finance

On Sept 4, FH Lee Holdings (Pte) Ltd acquired 178,500 shares of Sing Investments & Finance for a consideration of S$253,470 at S$1.42 per share.

This increased the total interest of Sing Investments & Finance's managing director, Lee Sze Leong, and deputy managing director, Lee Sze Siong, to 30.256 per cent and 30.289 per cent, respectively.

The previous acquisition was for 50,000 shares at S$1.44 per share on June 3.

Contributing to his 30.256 per cent total interest in the listed company, MD Lee Sze Leong also directly acquired 15,000 shares at S$1.42 a share on Sept 4.

Singapore Medical Group

On Aug 30, Singapore Medical Group (SMG) non-executive chairman Tony Tan Choon Keat acquired 269,100 shares of the Catalist-listed company for a consideration of S$80,185 at an average price of S$0.2980 per share, increasing his total interest in SMG to 7.51 per cent.

This followed his acquisition of 130,900 shares of SMG at an average price of S$0.2762 per share on Aug 28.

Mr Tan is responsible for providing leadership to the SMG board of directors of the group and overall strategic guidance.

Star Pharmaceutical

Between Aug 30 and Sept 3, Star Pharmaceutical executive chairman Xu Zhi Bin acquired 160,900 shares of the listed company for a consideration of S$72,405 at S$0.45 per share.

This took Mr Xu's total interest in the manufacturer and seller of both western and TCM-formulated prescription drugs from 77.02 per cent to 77.367 per cent.

As reported by The Business Times, on Aug 5, Mr Xu purchased from executive director Wang Qi a 22.67 per cent stake in Star Pharmaceutical for approximately S$1.5 million or S$0.142 per share, triggering an offer for the company at S$0.45 a share.

Frencken Group

On Sept 2, Frencken Group chairman and non-executive non-independent director Gooi Soon Chai acquired 100,000 shares of the listed company for a consideration of S$63,500.

His preceding acquisition of Frencken Group shares was on Aug 13, involving 100,000 shares at S$0.655 per share.

His total interest in the high-tech capital and consumer equipment service provider is 23.36 per cent.

Mr Gooi has been the chairman of Frencken Group since August 2016 and is also a board member of the Malaysian Investment Development Authority.

UnUsUaL

On Aug 30, UnUsUaL executive director and CEO Leslie Ong Chin Soon acquired 220,000 shares of the listed company for a consideration of S$57,495, at an average price of S$0.2613 per share.

This took Mr Ong's total interest in UnUsUaL from 78.98 per cent to 79.00 per cent.

His preceding acquisition of UnUsUaL shares was on March 5, involving 20,408,164 shares at S$0.245 per share.

With 20 years of experience in the production and promotion business, Mr Ong is responsible for the overall management operations, strategic planning and business development, and has been with the group since its inception in 1997.

Hong Fok Corporation

On Sept 2, Hong Fok Corporation executive director and joint CEO Cheong Sim Eng acquired 60,000 shares of the listed company for a consideration of S$50,700 at S$0.845 per share.

This took Mr Cheong's total interest in Hong Fok Corporation to 19.556 per cent.

His preceding acquisition of Hong Fok Corporation shares involved 104,000 shares at S$0.865 per share on July 22.

He has gradually increased his total interest in the property developer from 19.056 per cent at the end of 2018.

He is principally involved in the group's overall operations and management with greater emphasis in Singapore and has over 34 years of experience in the property development business.

Nordic Group

On Sept 4, Nordic Group executive director Dorcas Teo Ling Ling acquired 180,000 shares of the listed company for a consideration of S$48,901 at an average share price of S$0.2717.

Ms Teo is the CEO of Nordic Flow Control with responsibility for its overall operations, sales and business development, profit and loss management, and human resources functions.

She maintains an 8.25 per cent stake in Nordic Group.

Her preceding acquisition was on Feb 27, and involved 50,000 shares at an average share price of S$0.3628.

Hwa Hong Corporation

On Sept 2, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui increased his direct stake in Hwa Hong from 5.799 per cent to 5.815 per cent.

Dr Ong acquired 101,600 shares of the property rental investor and developer for a consideration of S$30,222 at an average price of S$0.2975 per share.

This also increased the deemed and hence total Hwa Hong interest of Dr Ong's father, Steven Ong Kay Eng, to 15.468 per cent.

Dr Ong's preceding acquisition of Hwa Hong shares was on Aug 21, involving 200,200 shares at S$0.300 per share.

Dr Ong has gradually increased his total interest in Hwa Hong from 5.316 per cent at the end of 2018.

Noel Gifts International

On Aug 29, Noel Gifts International managing director Alfred Wong Siu Hong acquired 100,100 shares of the listed company for a consideration of S$20,020 at S$0.20 per share.

This took his total stake in Noel Gifts International from 45.32 per cent to 45.42 per cent.

His preceding acquisitions of Noel Gifts International shares were between May 2 and 6, with 106,000 shares acquired at an average price of S$0.224 per share.

Mr Wong is the founder of Noel Gifts International, and has been its managing director since its commencement.

With over 40 years of experience in the hampers, flowers and gifts business, he is in charge of the strategic planning, overall financial management and growth of the group.

Since 1997, he has also been spearheading the property division, overseeing property investment and development.

GK Goh Holdings

Between Aug 30 and Sept 2, GKG Investment Holdings Pte Ltd (GKGI) acquired 26,000 shares of GK Goh Holdings for a consideration of S$20,800 at an average price of S$0.80 per share.

This followed a similar sized acquisition, also at S$0.80 per share on Aug 29.

GK Goh Holdings executive chairman Goh Geok Khim and executive director Goh Yew Lin have controlling interests in GKGI which maintains a 60.54 per cent interest in GK Goh Holdings.

Global Dragon

On Aug 30, Global Dragon executive director and chief operating officer Gary Tan acquired 200,000 shares of the listed company for a consideration of S$15,200 at S$0.076 per share.

This took his total interest in Global Dragon to 0.03 per cent.

Mr Tan is responsible for the implementation of the group's corporate plans and policies, and executive decision-making.

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