Director acquisitions continue, while buybacks decrease
FOR the five trading sessions that spanned April 23 and 29, the Straits Times Index (STI) gained 1.1 per cent while the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaged marginal declines. This has brought the STI's total return for the 2021 year to April 29 to 14.0 per cent.
Within the STI, OCBC, Yangzijiang Shipbuilding (Holdings), Jardine Matheson Holdings, UOB and Singapore Exchange received the highest net institutional inflows from April 23 to 29.
Outside the STI, iFAST Corporation, UMS Holdings, Golden Agri-Resources, Mapletree North Asia Commercial Trust and Keppel Reit saw the highest net institutional inflows for the five sessions.
Over the five sessions, the iEdge S-Reit Leaders Index gained 1.4 per cent, bringing the total return for the 2021 year to April 29 to 3.8 per cent.
Share buybacks
There were five primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$474,130, down from the S$703,050 consideration for the previous week.
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Global Investments led the consideration tally, purchasing 1.7 million shares at an average price of 15 cents per share.
Director and substantial shareholder transactions
The five trading sessions saw close to 90 changes in director interests and substantial shareholdings filed for close to 40 primary-listed stocks.
This included 38 company director acquisitions and no company director disposals, with substantial shareholders filing 11 acquisitions and five disposals.
Keppel Corporation
Following the conclusion of the Keppel Corp AGM held on April 23, Keppel's non-executive directors acquired shares in the company as part of their remuneration for FY20 (ended Dec 31, 2020).
On April 26, a combined total of 55,000 shares were acquired by the seven non-executive directors at S$5.49 per share.
Danny Teoh's role as chairman, non-executive and independent director, also took effect from April 23. Mr Teoh was first appointed to the board on Oct 1, 2010, and acquired 10,000 of the 55,000 shares.
Second Chance Properties
Between April 23 and 29, Second Chance Properties founder and CEO Mohamed Salleh Marican acquired 1,758,400 shares of the company for a consideration of S$496,045.
At an average price of 28.2 cents per share, this increased Mr Salleh's total interest in the properties and securities investor, apparel and gold retailer, from 68.42 per cent to 68.65 per cent.
Mr Salleh has gradually increased his total interest in Second Chance Properties from 68.08 per cent at the end of 2020.
Mewah
On April 22, TC Stone Ltd acquired 788,200 shares of Mewah International (Mewah) via a married deal for a consideration of S$331,044 at an average price of 42.0 cents per share. This followed the acquisition of 642,600 shares at 42.5 cents per share on April 16.
The latest acquisition by TC Stone on April 22, has taken Mewah chairman and executive director Cheo Tong Choon's total interest in Mewah from 48.03 per cent to 48.08 per cent. Executive director and CEO Michelle Cheo and executive director and COO Bianca Cheo Hui Hsin maintain respective total interests of 46.77 per cent and 46.89 per cent.
Tye Soon
On April 28, Tye Soon managing director David Chong Tek Yew acquired 333,300 shares of the company for a consideration of S$129,987.
At an average price of 39.0 cents per share, this increased his total interest in the independent automotive parts distributor from 2.10 per cent to 2.48 per cent.
Mr Chong has been with the group since 1998. Joining as group general manager/executive director, he was appointed deputy managing director in 2002, before being appointed managing director in February 2014.
EnGro Corporation
On April 26, EnGro Corporation chairman and CEO Tan Cheng Gay acquired 50,000 shares of the company for a consideration of S$63,000.
At S$1.26 per share, this increased his total interest in the leading provider of superior building material from 14.49 per cent to 14.53 per cent.
Mr Tan is a stalwart of the company, having been with EnGro Corporation since its inception.
He was appointed as director in 1973 and has since served as the executive director to steer the strategic direction and vision of the group.
Uni-Asia Group
On April 23, Uni-Asia Group executive chairman Michio Tanamoto acquired 50,000 shares of the company for a consideration of S$30,750. At 61.5 cents per share, this increased his total interest in Uni-Asia Group from 3.02 per cent to 3.08 per cent.
Mr Tanamoto's preceding acquisition was Sept 18, 2020, with 400,000 shares of acquired at 43.5 cents per share.
Between April 20 and 27, Uni-Asia Group substantial shareholder Ham Yong Kwan increased his direct interest in the company from 7.09 per cent to 7.21 per cent.
He acquired 95,400 shares at an average price of 63.0 cents per share.
Mr Ham has gradually increased his interest in Uni-Asia Group from 2.20 per cent in March 2020, with his direct interest reported to cross over the 5.00 per cent substantial shareholding threshold in a filing on Jan 27.
iFAST Corporation
On 26 April, iFAST Corporation independent director David Toh Teng Peow acquired 3,000 shares of the company for a consideration of S$20,015 at S$6.67 per share.
He maintains a 0.07 per cent total interest in the wealth management, fintech business.
Mr Toh is also director and chief technology officer at a wholly owned subsidiary of the Nanyang Technological University of Singapore, NTUitive, which is responsible for commercialising the university's scientific research and incubating startups.
Katrina Group
Between April 23 and 26, Katrina Group founder, executive chairman and chief executive officer Alan Goh Keng Chian acquired 107,600 shares of the Catalist-listed food and beverage company at an average price of 10.3 cents per share.
The consideration of the transaction totalled S$11,059.
This took Mr Goh's total interest in the F&B group with multi-cuisine concepts, from 88.71 per cent to 88.76 per cent.
He has gradually increased this total interest from 84.60 per cent as of the IPO on July 26, 2016.
Mr Goh heads the formulation of the group's strategic directions and expansion plans in Singapore and overseas markets, and manages the group's overall business development.
The acquisition also increased the total interest of Madaline Catherine Tan Kim Wah in Katrina Group.
Ms Tan is the co-founder, executive director of the group and spouse of Mr Goh.
- The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit sgx.com/research.
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