Chairs of Yanlord, LET and Bonvests increase stakes

FOR the five trading sessions that spanned April 30 to May 6, the Straits Times Index (STI) declined 1.5 per cent bringing the STI's total return for the 2021 year to May 6 to 12.8 per cent.

Within the STI, DBS, OCBC, Yangzijiang Shipbuilding (Holdings), Mapletree Logistics Trust and Singapore Telecommunications received the highest net institutional inflows from April 30 to May 6.

Outside the STI, NetLink NBN Trust, Golden-Agri-Resources, Yanlord Land Group, Mapletree North Asia Commercial Trust and Thai Beverage received the highest net institutional inflows over the five sessions.

Share buybacks

There were 10 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$15,426,711, up sharply from the S$474,130 for the previous week. On May 3, Wilmar International bought back 2 million shares at an average price of S$4.99 per share.

Director and substantial shareholder transactions

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The five trading sessions saw close to 120 changes in director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 29 company director acquisitions with one disposal, while substantial shareholders filed 10 acquisitions and no disposals.

Yanlord Land Group

Between April 30 and May 4, Yanlord Land Group founder, chairman and CEO Zhong Sheng Jian acquired 7,067,500 shares of the company for a consideration of S$9,479,275. At an average price of S$1.34 per share, this took his direct holdings in Yanlord Land Group from 4.64 per cent to 5.01 per cent.

Mr Zhong also maintains a 66.19 per cent deemed interest in Yanlord Land Group through his 95 per cent ownership of Yanlord Holdings, with his spouse owning the remaining 5 per cent of the holding company.

The acquisition took Mr Zhong's total interest in Yanlord Land Group to 71.19 per cent.

This also followed a similar size acquisition between March 18 and 22, with 7,116,600 shares acquired at an average price of S$1.19.

Mr Zhong is responsible for the overall management and strategy development of Yanlord Land Group.

Since the 1980s, he has founded and established a number of businesses in trading, manufacturing and real estate spanning China, Singapore and Hong Kong.

Mr Zhong started property development businesses in the early 1990s through the setting up of offices in Shanghai and Nanjing, which are now part of Yanlord Land Group.

Leader Environmental Technologies

On May 5, Leader Environmental Technologies executive chairman and CEO Lin Yucheng acquired 5,960,700 shares of the company for a consideration of S$807,602.

At an average price of 13.6 cents per share, this took his direct interest in the technology driven environmental solutions provider from 14.92 per cent to 15.37 per cent.

Dr Lin took on the executive chairman and chief executive officer effective Jan 1.

He is an entrepreneur who founded and invested in a spectrum of environment-related businesses in the last 30 years, including CITIC Envirotech.

Dr Lin highlighted in the Leader Environmental Technologies Annual Report 2020 that the group has been actively working on its transformation plans following a strategic review held in June 2020.

The group aims to transform into a technology driven environmental solutions provider by expanding its business focusing on municipal sludge management, industrial wastewater treatment using membrane technologies, and production of equipment widely used in the sludge and water treatment segments.

Bonvests Holdings

On May 3, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 422,000 shares of the company in a married deal at S$1.00 per share.

This increased his total interest in Bonvests Holdings from 83.38 per cent to 83.49 per cent.

Mr Ngo's preceding acquisitions included 16,000 shares at 91.0 cents per share on March 23, and 28,900 shares at 91.0 cents per share on March 2.

In the Bonvests Holdings Annual Report 2020, Mr Ngo noted that market conditions in the countries in which the hotel division operates expect to remain challenging, and added that construction for both hotels in Tunisia are ongoing and barring any unforeseen circumstances, scheduled for operational completion in 2022.

Mr Ngo is also the founder of Bonvests and responsible for mapping out the corporate and growth strategy of the group.

Following the AGM on April 29, independent directors Tom Yee Lat Shing and Yeo Wee Kiong retired from their positions by not seeking re-election, as this was in accordance with the company's constitution which stipulates retirement by rotation.

Alset International

Between April 30 and May 5, Alset International (formerly Singapore eDevelopment) executive chairman and chief executive officer Chan Heng Fai acquired 6,338,400 shares of the Catalist-listed company for a consideration of S$399,319, at 6.3 cents per share.

This increased his total interest in Alset International from 69.96 per cent to 70.29 per cent.

Mr Chan noted in the Alset International Annual Report 2020 that as worldwide inoculation efforts are underway, the group sees brighter spots for the global economy that is progressively on the path to recovery.

He added that the group remains cautiously optimistic of its prospects to drive growth via its newly established Alset Ehomes and its sustainable healthy living systems, as well as its pursuits to expand into the gig economy space.

A banking and finance expert with years of experience, Mr Chan has restructured over 35 companies in various industries and countries in the past 40 years.

Low Keng Huat (Singapore)

On May 3, Low Keng Huat (Singapore) executive director Alvin Teo Poh Kheng acquired 496,800 shares of the company for a consideration of S$245,916, at 49.5 cents per share.

This took his deemed interest in the property development, hotel and investment business and from 0.47 per cent to 0.54 per cent.

Recently appointed to the board of Low Keng Huat (Singapore) on April 5, Mr Teo is responsible for the group's property business in Singapore.

Plato Capital

Between April 30 and May 5, Plato Capital chairman, non-independent and non-executive director Lim Kian Onn acquired 97,900 shares of the Catalist-listed company for a consideration of S$134,123, at S$1.37 per share.

This increased his total interest in the investor in hospitality and travel, education, and IT solutions from 72.16 per cent to 72.97 per cent.

Mr Lim has gradually increased his total interest in Plato Capital from 65.13 per cent at the end of 2019.

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