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AUHT and TrickleStar directors continue to build interest
FOR the five trading sessions from June 21 to 27, the Straits Times Index (STI) gained 0.4 per cent, adding to the preceding five-session gain of 2.9 per cent.
Over the past five sessions, the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaged a 0.1 per cent gain.
The recent gains have brought the STI's 2019 total return through to June 27 to 10.8 per cent.
There were 14 primary-listed stocks conducting share buybacks over the five sessions ended June 27, with a total consideration of S$13.2 million, higher than the preceding five session's S$12.5 million.
OCBC, Stamford Land and Olam International led the buyback tally.
Director and substantial shareholder transactions
The five sessions spanning June 21 to 27 saw approximately 160 changes in director interests or substantial shareholdings filed for close to 50 primary-listed stocks.
There were 26 company director acquisitions and six disposals filed, with substantial shareholders filing 24 acquisitions and nine disposals.
The deemed interest of Cohen & Steers, Inc in Parkway Life Reit fell below the 8 per cent threshold interest by reason of its wholly-owned subsidiary, Cohen & Steers Capital Management Inc, having novated 2,055,500 units in Parkway Life Reit on June 21, 2019, due to the termination of an agreement to purchase and sell securities.
On June 19, United Engineers Ltd (UEL) substantial shareholder Ching Chiat Kwong acquired 4,772,400 shares of UEL for a consideration of S$12,312,792.
This took his direct interest in UEL from 2.73 per cent to 3.48 per cent.
Mr Ching holds an interest of 42 per cent of the total issued shares (excluding treasury shares) of Oxley Holdings as at June 19, and is hence deemed to have an interest in the shares of UEL held by Oxley Holdings. This brings his total interest in UEL to 22.40 per cent.
Mr Ching possesses 20 years of property industry experience and is also the executive chairman and CEO of Oxley Holdings where he is responsible for the formulation of corporate strategies, charting future growth plans and driving overall performance of the group.
Between June 21 and 25, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.26 per cent.
In addition to receiving 9,630,308 shares through the UOBKH Scrip Dividend Scheme, Mr Wee made acquisitions on the open market.
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.
For its FY18 (ended Dec 31) UOBKH announced that 15,485,094 new ordinary shares in the capital of the company were allotted and issued to the eligible shareholders of the listed company who validly elected to participate in its Scrip Dividend Scheme.
ARA US Hospitality Trust
On June 26, ARA Real Estate Investors 23 Pte Ltd acquired 9,358,300 stapled securities of ARA US Hospitality Trust (AUHT) for a consideration of US$8,328,887 at US$0.89 per stapled security.
This took the deemed Interest of ARA Asset Management Holdings Pte Ltd in AUHT from 7.84 per cent to 9.50 per cent.
AUHT is a stapled group comprising ARA US Hospitality Property Trust and ARA US Hospitality Management Trust.
The stapled trust debuted on May 9, with an initial offer price of US$0.88 per stapled security.
AUH's initial portfolio, valued at US$719.5 million, comprises 38 upscale select-service hotels totalling 4,950 rooms.
This includes 27 Hyatt Place hotels and 11 Hyatt House hotels, located across 21 states in the US.
In addition, 36 out of the 38 properties have freehold land titles.
At the time of listing AUHT was the third largest IPO by deal size across the exchanges of Asia-Pacific for 2019.
First Sponsor Group
Between June 24 and 25, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong increased his deemed interest in the listed company by 360,200 shares for a consideration of S$482,731.
This took his total stake in FSGL to 45.76 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 50,000 shares of the listed company for a consideration of S$66,410 increasing his total interest in FSGL to 36.27 per cent.
Mr Ho Han Khoon was appointed as an alternate director to Mr Calvin Ho Han Leong 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.
Geo Energy Resources
On June 21, Geo Energy Resources substantial shareholder Heah Theare Haw acquired 2 million shares of the coal mining group for a consideration of S$306,000.
This took the substantial shareholder's direct interest in the listed company above the 6 per cent threshold, from 5.96 per cent to 6.11 per cent.
Mr Heah first registered as a substantial shareholder of Geo Energy Resources on April 1, 2015 with that acquisition taking his direct interest from 4.89 per cent to 5.58 per cent.
Between June 21 and 26, TrickleStar chief intellectual property adviser to the board, Chuah Jern Ern, acquired 410,000 shares of the latest debutant on the Catalist Board for a consideration of S$126,450.
The average price paid by Mr Chuah was S$0.3084 per share and the director has gradually built a 0.64 per cent stake in the listed company since the June 18 debut.
Mr Chuah has 20 years of experience in patents and intellectual property strategy.
The initial offer price of placement shares was S$0.26 per share.
On June 26, TrickleStar executive chairman and CEO Bernard Emby also increased his total interest in the listed company from 61.47 per cent to 61.84 per cent.
Mr Emby acquired 300,000 shares for a consideration of S$91,500 at S$0.305 per share.
The company designs and supplies affordable, energy-saving products that help consumers reduce energy consumption in their homes and workplaces
On June 21, New Impetus Strategy Fund acquired 148,900 shares of AEI Corporation for a consideration of S$101,595.
This took AEI Corporation's non-executive chairman Sun Quan's deemed interest in the list company to 50.94 per cent.
Mr Sun has more than 20 years of investment and management experience in the Greater China region, Singapore, Malaysia, Thailand and Indonesia.
During this time he has covered a variety of business areas including high technology, pharmaceuticals, electronics, real estate, natural resources and chemical industry.
On June 20, LY Corporation executive chairman Tan Kwee Chai acquired 61,500 shares of the listed company for a consideration of S$12,791.
This took his total stake in the manufacturer and exporter of wooden bedroom furniture to 72.25 per cent.
Mr Tan is one of LY corporation's founders and is responsible for the group's overall management and operations, including formulating the group's strategic directions and expansion plans.
Union Gas Holdings
On June 26, Union Gas Holdings CEO Teo Hark Piang acquired 41,000 shares of the listed company for a consideration of S$10,045.
This took his direct interest in the provider of fuel products to 3.64 per cent.
As reported by The Business Times on April 25, Mr Teo is the son of Teo Kiang Ang, the non-executive chairman and controlling shareholder of the fuel products provider.
GK Goh Holdings
Between June 23 and 25, GKG Investment Holdings Pte Ltd (GKGI) acquired 10,400 shares of GK Goh Holdings for a consideration of S$8,840.
GK Goh Holdings executive chairman Goh Geok Khim and executive director Goh Yew Lin have controlling interests in GKGI which maintains a 60.47 per cent interest in GK Goh Holdings.
- The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit sgx.com/research.