Credit Bureau Asia, UOL and MediNex chairs add to stakes

FOR the 5 trading sessions that spanned Jan 14 to 20, the Straits Times Index (STI) gained 1.2 per cent, with the FTSE China A50 Index gaining 1.9 per cent, the Hang Seng Index gaining 2.1 per cent and the FTSE Bursa Malaysia KLCI declining 2.6 per cent.

Within the STI, OCBC, O39  UOB, U11  Singapore Telecommunications, Z74  DBS D05 Group Holdings and Sembcorp Industries U96 recei : U96 0%ved the highest net institutional inflows for the 5 sessions.

Outside the STI, Singapore Press Holdings, T39 Keppel Infrastructure Trust, A7RU  Ascott Residence Trust, HMN  AEM Holdings AWX and Suntec Reit T82U recei : T82U 0%ved the highest net institutional inflows for the period.

Overall, institutions were net buyers over the 5 sessions, with S$256 million of net inflow, while UMS Holdings, 558  Nanofilm Technologies International MZH and Keppel DC Reit AJBU r : AJBU 0%eported the highest net institutional outflows.

Share buybacks

There were 14 primary-listed stocks conducting share buybacks over the 5 sessions with a total consideration of S$18.0 million, up from S$12.0 million during the previous corresponding period.

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OCBC led the consideration tally, buying 800,000 shares at an average price of S$12.30 per share.

SHS Holdings 566 : 566 0% led the buyback consideration of non-STI stocks, buying back 12.5 million shares at an average price of 15.5 cents per share.

Secondary-listings Hongkong Land H78 and Jardine Matheson Holdings J36 : J36 0% also bought back shares over the 5 sessions.

Director and substantial shareholder transactions

The 5 trading sessions saw more than 60 changes in director interests and substantial shareholdings filed for close to 30 primary-listed stocks.

This included 13 company director acquisitions with 2 disposals filed, while substantial shareholders filed 3 acquisitions and 7 disposals.

Credit Bureau Asia

On Jan 18, Credit Bureau Asia TCU : TCU 0% founder, executive chairman and CEO Koo Chiang acquired 1,425,000 shares of the company for a consideration of S$1,482,000 at an average price of S$1.04 per share.

This increased his direct interest in the company from 63.40 per cent to 64.00 per cent.

His preceding acquisition of Credit Bureau Asia shares was between Nov 26 and Dec 2, which saw him acquire 537,300 shares at S$1.21 per share.

Since establishing the credit information business in Singapore in 1993, Koo has over 20 years of experience in the credit information industry and has been instrumental to the success and expansion of the group over the past 2 decades.

On Dec 24, Credit Bureau (Cambodia) announced a commitment of US$1 million in support of the National Financial Inclusion Strategy to promote and strengthen financial inclusion over the next 5 years in Cambodia.

The company noted back in April that as part of its efforts in advocating for greater economic inclusion, it had taken part in various initiatives through Credit Bureau (Cambodia) to help equip families, students and individuals in the country with financial knowledge and to improve financial literacy.

Credit Bureau Asia is expected to report its FY21 (ended Dec 31) results towards the end of February, after reporting in August that its H1FY21 (ended Jun 30) revenue grew 8.5 per cent to S$22.3 million.

UOL Group

On Jan 1, Wee Investments acquired 100,000 shares of UOL Group U14 : U14 0% at S$7.01 per share.

This took the total interest of UOL Group chairman Wee Cho Yaw from 38.01 per cent to 38.02 per cent.

The recent wave of acquisitions by Wee Investments, which began late last year on Nov 30, has seen the banker increase his total interest in UOL Group from 37.41 per cent.

Asian Pay Television Trust

Between Jan 17 and 18, Dai Yung Huei, non-executive director of the trustee-manager of Asian Pay Television Trust S7OU : S7OU 0% (APTT) increased his deemed interest from 18.06 per cent to 18.16 per cent.

In total, 1,794,300 units of APTT were acquired by Araedis Investment for a consideration of S$248,335 at an average price of 13.8 cents per unit.

Dai has gradually increased his deemed interest in APTT from 16.72 per cent prior to his appointment as non-executive director of the trustee-manager of APTT on Aug 13, 2021.

Dai is the chairman of Da Da Digital Convergence and the founder of Dafeng TV, the first publicly traded cable TV provider in Taiwan, which operates in domestic markets including New Taipei City and Kaohsiung City. Between 1996 and 2019, Dai was the chairman of Dafeng TV.

MediNex

On Jan 18, MediNex OTX : OTX 0% non-executive chairman Tan Lee Meng acquired 416,300 shares of the Catalist-listed company at an average price of 22.5 cents per share.

With a consideration of S$93,668, this took his direct interest in the company from 8.92 per cent to 9.24 per cent.

For its H1FY22 (ended Sep 30) MediNex reported that its profit before income tax increased by 43.18 per cent to S$2.29 million.

Together with its subsidiaries, MediNex is a Singapore-based medical support services provider, specialising in providing professional support services to medical clinics.

Tan has more than 20 years of experience in business development, incubating and investing in companies, and project management.

He was also previously an independent director of BRC Asia and Hisaka Holdings (now known as Regal International Group), and a non-executive director of See Hup Seng now known as SHS Holdings and Sibercert (a subsidiary of PSB Corporation).

The Straits Trading Company

On Jan 19, The Straits Trading Company S20 : S20 0% independent and non-executive director Tan Tiong Cheng acquired 20,000 shares of the company for a consideration of S$64,000, in a married deal at S$3.20 per share.

This increased his direct interest in the conglomerate-investment company from 0.03 per cent to 0.04 per cent.

His preceding acquisitions were on Dec 20, with 10,000 shares acquired at S$3.30 per share, between Dec 3 and 7, with 13,200 shares acquired at S$3.38 per share, and on Oct 5 with 30,000 shares acquired at S$3.05 per share.

Tan is also an independent and non-executive director of UOL Group, the lead independent director of Heeton Holdings, and a non-executive independent director of Amara Holdings.

On Jan 18, The Straits Trading Company independent and non-executive director Chua Tian Chu also acquired 10,000 shares of the company at S$3.21 per share.

Chua was appointed to the board of The Straits Trading Company in January 2018.

Separately, The Straits Trading Company announced a share placement exercise on Jan 18, to broaden the institutional and individual investor base.

The placement shares, representing in aggregate approximately 6.39 per cent of the total existing issued shares of Straits Trading Company, will increase the free float of the stock from approximately 25.33 per cent to 29.82 per cent, and is expected to improve trading liquidity.

Sinarmas Land

On Jan 17, Sinarmas Land A26 : A26 0% lead independent director Hong Pian Tee acquired 58,900 shares of the company for a consideration of S$14,725 at 25.0 cents per share.

He maintains a 0.05 per cent direct interest in Sinarmas Land.

Hong was a partner of PricewaterhouseCoopers from 1985 to 1999, prior to his retirement from professional practice.

Vertex Technology Acquisition Corporation

On Jan 20, Vertex Technology Acquisition Corp VTA : VTA 0% (VTAC), a special purpose acquisition company (SPAC) debuted on SGX and maintained a market value of S$202 million on the Jan 20 close.

VTAC aims to acquire or merge with value-creating businesses at the fast growth stage of their life cycle.

VTAC noted that the public offering of 0.6 million units was 36.0 times subscribed, while the international placement of 11.2 million units to institutional and other investors in Singapore, foreign institutional and selected investors outside the United States was 8.8 times subscribed.

In addition, cornerstone investors that subscribed for 22.2 million cornerstone units included Venezio Investments, Asdew Acquisitions, DBS Bank Ltd (on behalf of  wealth management clients), DBS Bank (Hong Kong) Ltd (on behalf of  wealth management clients), Dymon Asia Multi-Strategy Investment Master Fund, Fortress Capital Asset Management, Fullerton Fund Management Company, Greenpark Investments, Linden Capital, Lion Global Investors, Target Asset Management, The Segantii Asia-Pacific Equity Multi-Strategy Fund, and UBS Asset Management (Singapore).

For more SPACs-related information, please visit sgx.com/SPACs.

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