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INSIDE INSIGHTS

Company directors file 35 acquisitions, S$31m in buybacks

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For the five trading sessions spanning Nov 29 to Dec 5, the Straits Times Index (STI) declined 0.8 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 2.0 per cent decline. This has brought the STI's 2019 total return through to Dec 5, to 7.5 per cent.

FOR the five trading sessions spanning Nov 29 to Dec 5, the Straits Times Index (STI) declined 0.8 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 2.0 per cent decline. This has brought the STI's 2019 total return through to Dec 5, to 7.5 per cent.

Share buybacks

There were 16 primary-listed stocks conducting share buybacks over the five sessions ended Dec 5 with a total consideration of S$31.4 million, double the S$15.6 million in buyback consideration for the preceding week.

Director and substantial shareholder transactions

The five sessions spanning Nov 29 to Dec 5 saw 150 changes in director interests and substantial shareholdings filed for approximately 60 primary-listed stocks.

There were 35 company director acquisitions and six disposals filed, with substantial shareholders filing 21 acquisitions and 16 disposals.

Centurion Corporation

On Dec 3, Centurion Corporation non-executive director David Loh Kim Kang acquired 1,000,000 shares of the accommodation developer and manager for a consideration of S$440,000. At S$0.44 per share, this took his total interest in Centurion Corporation from 56.911 per cent to 57.030 per cent.

Mr Loh has over 20 years of experience in the investment and brokerage industry. He has been a principal and director of Centurion Global Ltd, a controlling shareholder of the company, since April 2008 to the present.

First Sponsor Group

Between Nov 29 and Dec 2, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong increased his deemed interest in the mixed property developer by 279,100 shares for a consideration of S$377,495.

The average price per share of the acquisitions was S$1.353 and increased Mr Ho's deemed interest in FSGL from 45.80 per cent to 45.83 per cent.

Preceding transactions included an acquisition of 353,400 shares on July 9 at S$1.328 per share, and acquisitions between June 24 and 25, at S$1.340 per share.

Mr Ho was appointed as the non-executive chairman of the company in April 2015, and prior to this, had served as the non-executive vice-chairman of the company since October 2007.

He has also been instrumental in assisting the group's senior management in the conceptualisation and setting of the strategic direction and corporate values of the group.

On Nov 28, Ho Han Khoon, FSGL alternate director to non-executive chairman, Calvin Ho, acquired 97,000 shares of the listed company for a consideration of S$128,859. At S$1.328 per share this increased his total interest in FSGL to 36.28 per cent.

Mr Ho Han Khoon's preceding acquisition of 50,000 shares was also transacted at S$1.328 per share. He was appointed as an alternate director to Mr Calvin Ho Han Leong on May 19, 2014.

Sinostar PEC

Between Nov 28 and Dec 2 Intelligent People Holdings Ltd (IPHL) acquired 1.56 million shares of Sinostar PEC Holdings (Sinostar) for a consideration of S$334,360 at an average price of S$0.2143 per share.

The acquisitions took IPHL's total interest in Sinostar from 57.39 per cent to 57.64 per cent.

Sinostar non-executive chairman Li Xiang Ping has a 100 per cent shareholding interest in IPHL. Mr Li has made multiple acquisitions of Sinostar shares via IPHL back in 2018 and in the 2019 year-to-date, increasing his total interest from 52.190 per cent prior to Dec 27, 2017.

His preceding acquisitions were between Nov 26 and 27, with 1.27 million shares acquired at an average price of S$0.2108 per share.

Golden Agri-Resources

On Nov 29, Golden Agri-Resources (GAR) non-executive lead independent director Lew Syn Pau acquired 2 million shares of the listed company for a consideration of S$430,000. At S$0.215 per share, this took his direct interest in Golden Agri-Resources from 0.008 per cent to 0.024 per cent.

Mr Lew is the chairman of the Golden Agri-Resources audit committee, and member of its nominating committee and remuneration committee. He re-joined GAR's board of directors in December 2007.

Prior to that, Mr Lew was a director of the company from 1999 to May 2007. He also sits on the boards of Broadway Industrial Group, Food Empire Holdings, Golden Energy and Resources, SUTL Enterprise and Sinarmas Land.

UOB-Kay Hian Holdings

Between Nov 28 and Dec 4, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.46 per cent. Mr Wee acquired 119,600 shares for a consideration of S$145,912 at S$1.22 per share.

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

Heeton Holdings

Between Nov 29 and Dec 2, Heeton Holdings deputy chairman and executive director Toh Giap Eng acquired 300,000 shares of the real estate conglomerate for a consideration of S$140,934. At an average price of S$0.467 per share, this took his total interest in Heeton Holdings from 39.94 per cent to 40.03 per cent.

His preceding acquisition on Aug 13 consisted of 200,000 shares at S$0.437 per share.

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.

AIMS APAC Reit

Between Nov 27 and 29, AIMS APAC Reit Management's chairman, non-executive non-independent director George Wang increased his deemed interest in AIMS APAC Reit by 60,000 units. The acquisitions were conducted at an average unit price of S$1.445 per share, with a total consideration of S$86,700. This took his total interest in AIMS APAC Reit from 7.92 per cent to 7.93 per cent.

Mr Wang was appointed as a director on Aug 7, 2009 and reprised the role as chairman of the manager on Jan 16, 2014. He was previously the chairman from Aug 7, 2009 to April 19, 2012.

Mr Wang is the founding executive chairman of AIMS Financial Group and an active participant in both the Australian and Chinese financial services industries.

Hai Leck Holdings

On Nov 27, Hai Leck Holdings (Hai Leck) founder and executive chairman, Cheng Buck Poh acquired 84,400 shares of the EPC services company for a consideration of S$44,156 at S$0.523 per share. This took his total interest in Hai Leck from 84.36 per cent to 84.40 per cent.

His preceding acquisitions included 18,000 shares at S$0.490 per share (Nov 26), 333,000 shares at S$0.5105 per share (Sept 19-24) and 20,000 shares at S$0.52 per share (April 3).

Mr Cheng started Hai Leck Engineering as a sole proprietorship in 1971 and he is currently responsible for charting the corporate directions and strategies for Hai Leck.

His total interest in Hai Leck was 83.34 per cent at the end of August 2018.

Silverlake Axis

On Dec 4, Silverlake Axis independent non-executive director Lim Kok Min acquired 100,000 shares of the listed company for a consideration of S$41,500. At an average price of S$0.4150 per share, the acquisition increased Mr Lim's direct interest in Silverlake Axis to 0.042 per cent.

His preceding acquisition of 200,000 shares on Nov 25 was at S$0.4175 per share.

Mr Lim has more than 45 years of extensive senior management and over 30 years of board experience in the Asia-Pacific region.

He is also the chairman and a member of the Audit Committee of IReit Global Group Pte Ltd and the chairman of Boustead Projects. Mr Lim has been a director of Silverlake Axis since June 2006.

KTMG

Between Nov 29 and Dec 4, KTMG non-executive and independent director Yap Boh Pin acquired 200,000 shares of the listed company for a consideration of S$30,000 at S$0.15 per share.

This took his total interest in the Malaysia-based apparel contract manufacturer from 0.004 per cent to 0.1200 per cent.

Mr Yap was first appointed to the board as an independent and non-executive director on April 1, 2004.

Similarly, back on Nov 19, KTMG non-executive and lead independent director Goh Yeow Tin acquired 200,000 shares of KTMG, also at S$0.15 per share.

GK Goh Holdings

Between, Dec 3 and 5 GKG Investment Holdings Pte Ltd (GKGI) acquired 46,100 shares of GK Goh Holdings for a consideration of S$38,510 at an average price of S$0.8354 per share.

This took GKGI's total interest in the listed company from 60.64 per cent to 60.66 per cent.

GKGI's preceding acquisitions were 65,400 shares at S$0.84 per share on Nov 22 and 262,300 shares at S$0.814 per share between Sept 13 and 16.

GK Goh Holdings executive chairman Goh Geok Khim, and executive director Goh Yew Lin have controlling interests in GKGI.

Mr Goh Geok Khim is also the chairman of the boards of Boardroom Ltd, Temasek Foundation International CLG Ltd and Federal Iron Works Sdn Bhd.

Mr Goh Yew Lin is an alternate director to Mr Goh Geok Khim for Boardroom Ltd, and serves as a non-executive director on the board of Temasek Holdings Pte Ltd.

Among his multiple chairman roles, he has been the chairman of Duke-NUS Medical School since Oct 1.

AnnAik

On Nov 29, AnnAik executive director and COO Ng Kim Keang acquired 341,400 shares of the manufacturer and distributor of stainless steel products for a consideration of S$21,544.

At a price of S$0.0631 per share, this took his direct interest in AnnAik from 2.02 per cent to 2.14 per cent.

Previously, between Nov 22 and 27, Mr Ng acquired 1.2 million shares of AnnAik at S$0.060 per share.

Mr Ng is currently responsible for managing the overall operations and the finance and accounting matters of the group.

A-Smart Holdings

On Nov 28, A-Smart Holdings CEO and non-independent director Lim Huan Chiang acquired 32,000 shares for a consideration of S$9,925 at S$0.310 per share. The acquisition increased his direct interest in A-Smart Holdings from 0.63 per cent to 0.66 per cent.

This followed the Mr Lim's acquisitions of 60,000 shares at S$0.309 per share on Nov 26 and 30,000 shares at S$0.310 per share on Nov 25.

Mr Lim joined as the CEO of A-Smart Holdings on Oct 26, 2015.

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