Buying remains flat, selling slips

THE buying was flat for the third straight week while the selling among directors fell based on filings on the Singapore Exchange from March 28 to April 1. A total of 13 companies recorded 26 purchases worth S$3.25 million versus one firm with two disposals worth S$2.8 million. The buy figures were up from the previous week's four-day totals of 12 firms, 25 purchases and S$1.04 million. On the selling side, the number of companies and trades were sharply down from the previous week's three firms and four disposals. The sell value, however, was sharply up from the previous week's disposals worth S$0.4 million.

Meanwhile, buyback activity plunged for the second straight week with only eight companies that posted 18 repurchases worth S$7.5 million. The figures were down from the previous week's 11 firms, 30 trades and S$11.7 million.

There were several significant corporate shareholder purchases last week with insider buys in ST Engineering, Kim Heng Offshore & Marine, ASL Marine Holdings and GL Limited and substantial shareholder acquisitions in Mapletree Greater China Commercial Trust, The Hour Glass Limited, mm2 Asia Ltd and Saizen Reit.

Singapore Technologies Engineering

Chairman Kwa Chong Seng recorded his first on-market trades in aerospace, electronics, land systems and marine solutions provider ST Engineering since his appointment in April 2013 with 300,000 shares purchased from March 30 to April 1 at an average of S$3.22 each. The trades increased his direct holdings by 53 per cent to 0.872 million shares or 0.03 per cent of the issued capital. The acquisitions were made on the back of the 20 per cent rebound in the share price since February from S$2.69.

Investors should note that the company bought back 989,000 shares from Jan 7 to 11 at an average of S$2.87 each. The stock closed at S$3.24 on Friday.

Kim Heng Offshore & Marine

Chairman and chief executive Thomas Tan Keng Siong resumed buying shares of integrated offshore and marine value chain services provider Kim Heng Offshore & Marine Holdings at sharply lower prices than for his previous acquisition with 450,000 shares purchased from March 23 to 28 at an average of S$0.091 each. The trades, which accounted for 12 per cent of the stock's trading volume, increased his direct holdings by 17 per cent to 3.05 million shares or 0.43 per cent of the issued capital. He also has deemed interest of 299.2 million shares or 42.14 per cent.

The counter closed at S$0.086 on Friday.

ASL Marine

Executive director Ang Kok Leung recorded his first on-market trade in marine services provider ASL Marine Holdings since his appointment in 2002 with 51,000 shares purchased on March 28 at S$0.31 each. The trade increased his direct holdings to 48.561 million shares or 11.58 per cent of the issued capital. The counter closed at S$0.325 on Friday.

GL Limited

Purchases by non-executive chairman Quek Leng Chan in hotel and resorts investor, property developer and casino betting services provider GL Limited in the latter part of March totalling 634,000 shares accounted for 43 per cent of the stock's trading volume. The purchases were made from March 24 to 30 at an average of S$0.87 each, which increased his deemed holdings to 921.208 million shares or 67.34 per cent of the issued capital. He also has direct interest of 735,000 shares or 0.05 per cent. The counter closed at S$0.87 on Friday.

Mapletree Greater China Commercial Trust

AIA Group Limited became a substantial shareholder of real estate investment trust Mapletree Greater China Commercial Trust following the purchase of 2.26 million units at S$0.96 each. The trade increased its deemed holdings to 139.531 million units or 5.06 per cent of the issued capital. The initial filing was made on the back of the 19 per cent rebound in the unit price since February from S$0.81.

The sentiment was not entirely positive last month as independent non-executive director Lok Vi Ming sold 100,000 units on March 18 at S$0.97 each. The trade lowered his direct stake by 35 per cent to 0.190 million units or 0.01 per cent.

Investors should note that chairman and independent non-executive director Frank Wong Kwong Shing and non-executive director Chua Tiow Chye recorded buys earlier this quarter with a combined 1.984 million units purchased from Jan 14 to Feb 12 at an average of S$0.854 each.

Mr Wong purchased 540,000 units from Feb 3 to 4 and a further 399,000 units on Feb 12 at an average of S$0.83 each, which increased his deemed holdings by 48 per cent to 2.899 million units or 0.1 per cent.

Mr Chua, meanwhile, purchased 250,000 units on Feb 1 at S$0.85 each, which boosted his direct stake by 19 per cent to 1.55 million units or 0.05 per cent. The unit trust closed at S$0.94 on Friday.

The Hour Glass

FMR LLC acquired more shares of watch and jewellery products retailer and distributor The Hour Glass Limited with a purchase-related filing on March 28 at S$0.73 each. The trade increased its deemed holdings to 49.476 million shares or 7.02 per cent of the issued capital.

Investors should note that non-independent non-executive director Jannie Chan Siew Lee sold five million shares from Jan 5 to 6 at S$0.78 each. The trades reduced her direct holdings by 23 per cent to 16.427 million shares or 2.33 per cent. She also has deemed interest of 324.865 million shares or 46.08 per cent. The counter closed at S$0.755 on Friday.

mm2 Asia

Substantial shareholder Yeo Khee Seng acquired more shares of movie and infotainment programme provider mm2 Asia Ltd after the stock rose by 36 per cent from his acquisition price in December 2015 with 1.12 million shares purchased on March 23 at S$0.53 each. The trade increased his holdings (direct and deemed interest) to 35.42 million shares or 8.01 per cent of the issued capital. The counter closed at S$0.52 on Friday.

Saizen Real Estate Investment Trust

Substantial shareholders Kin Chan and V-Nee Yeh recorded rare acquisitions in Japan-focused real estate investment trust Saizen Reit with a combined 576,000 units purchased from March 11 to 30 at S$0.089 to S$0.079 each or an average of S$0.085 each. The purchases were made after the counter rose by as much as 123 per cent from S$0.04 in September 2015. Mr Chan reported a purchase-related filing on March 30 of 319,000 units at S$0.089 each, which increased his deemed holdings to 28.985 million units or 10.1 per cent of the issued capital. Mr Yeh purchased 257,000 units on March 11 at S$0.079 each, which boosted his deemed holdings to 37.411 million units or 13.03 per cent. The unit trust closed at S$0.094 on Friday.