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INSIDE INSIGHTS

Director activity continues to build pace

FOR the five local trading sessions that spanned Sept 11 to 17, the Straits Times Index (STI) gained 0.4 per cent, with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 0.1 per cent decline. This has brought the STI's decline in total return for the 2020 year to Sept 17 to 19.6 per cent.

Over the five sessions, the iEdge S-Reit Leaders Index gained 3.1 per cent, bringing its decline in total return for the 2020 year to Sept 17 at 2.4 per cent.

Share buybacks

There were 11 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$7.0 million, down from the S$22.0 million for the preceding week.

Yangzijiang Shipbuilding (Holdings), Singapore Technologies Engineering, Ho Bee Land, Global Investments and Boustead Singapore led the consideration tally.

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Director and substantial shareholder transactions

The five trading sessions again saw approximately 110 changes in director interests and substantial shareholdings, filed for more than 40 primary-listed stocks.

This included 19 company director acquisitions, with 10 disposals filed, and substantial shareholders filing 14 acquisitions and eight disposals.

Keppel DC Reit

On Sept 15, Keppel DC Reit Management Pte Ltd CEO Chua Hsien Yang sold 700,000 units of Keppel DC Reit at S$2.97 per unit. This reduced his total interest to 632,364 units or 0.04 per cent.

Keppel DC Reit Management Pte Ltd is the manager of Keppel DC Reit. Keppel DC Reit Management Pte Ltd has had long-term incentive schemes including the awarding of vested Keppel DC Units, in which Mr Chua has participated.

From its listing date in November 2014 through to the Sept 15 close, the unit price of Keppel DC Reit had gained 236 per cent with reinvested dividend distributions taking the total return to 342 per cent.

The data centre Reit has also been among the 25 best performing Reits globally in the 2020 year to Sept 17.

Mr Chua has extensive experience in real estate funds management and the hospitality industries, with more than 17 years of experience in mergers and acquisitions, real estate investments, fund management, business development and asset management in the real estate sector within the Asia-Pacific region.

Prior to joining the manager, Mr Chua has held the position of senior vice-president of Keppel Reit Management Ltd, the manager of Keppel Reit, since May 2008, where he headed the investment team.

Hanwell Holdings

On Sept 14, Hanwell Holdings executive director Tang Cheuk Chee acquired 5,870,800 shares of the listed company at 26.88 cents per share.

This increased her total interest in Hanwell Holdings from 18.02 per cent to 19.08 per cent.

Bought at 23.50 cents per share, her preceding acquisitions of 818,200 shares were between Sept 8 and 9.

She has a wealth of management experience and is well versed in marketing, business development and investments in property and securities.

She is also an executive director of Tat Seng Packaging Group and is the spouse of Allan Yap, the executive chairman of the company.

Singapore eDevelopment

Between Sept 9 and 14, Singapore eDevelopment (SeD) executive chairman and CEO Chan Heng Fai acquired 10,784,200 shares of SeD at an average price of 6.17 cents per share.

The three filed transactions increased his total interest in SeD from 70.58 per cent to 71.28 per cent.

Mr Chan, who has restructured over 35 companies in various industries and countries in the past 40 years has gradually increased his interest in SeD from 68.74 per cent in March 2018.

SeD's operations comprise property development, info-tech related, investment and biomedical businesses.

ABR Holdings

Between Sept 11 and 14, ABR Holdings managing director Ang Yee Lim acquired 263,800 shares of the listed company for a consideration of S$175,920 at an average price of 66.69 cents per share.

This took his stake in the stock from 50.41 per cent to 50.51 per cent.

Mr Ang has over 10 years of experience in the food and beverage business and more than 30 years of experience in property development and investment in Singapore, Malaysia, Indonesia and Thailand.

ABR Holdings began as the owner and operator of the first full-service Swensen's ice cream restaurant in Singapore back in 1979.

For its H1FY20 (ended June 30), ABR Holdings noted that group revenue declined by 31 per cent to S$41.7 million as compared to S$60.6 million in H1FY19.

The group's F&B operations were adversely impacted by the Covid-19 pandemic, particularly during the period when governments implemented stringent measures to curb community spread.

However, ABR Holdings noted that support measures from the government and rental relief from landlords mitigated the adverse impact from the slowdown of its business mainly in the form of government grants, such as the Jobs Support Scheme, foreign workers levy rebate and property tax rebate, from the Covid-19 budget supplementary packages, and rental rebates from the landlords.

UOB-Kay Hian Holdings

Between Sept 10 and 16, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee-chao acquired 130,500 UOBKH shares for a consideration of S$164,325 at S$1.26 per share. This increased his total interest in UOBKH from 30.60 per cent to 30.62 per cent.

The four filed transactions represented 30 per cent more shares acquired and a 2 cents higher average price than his preceding acquisition on Aug 27.

Besides his stockbroking involvement in UOBKH, Mr Wee is also involved in investment and real estate development in the region.

He serves on the board of Haw Par Corporation and UOL Group as a non-executive director and is a director of Kheng Leong Co Pte Ltd and Wee Investment Group.

Mr Wee's total interest in UOBKH has gradually increased from 29.49 per cent at the end of 2019, and increased from 27.98 per cent at the end of 2018.

JB Foods

On Sept 16, JB Foods non-independent, non-executive director and vice- chairman Sam Goi Seng Hui acquired 286,000 shares of the listed company for a consideration of S$157,300.

At a price of 55.00 cents per share, this increased his total interest in JB Foods from 24.14 per cent to 24.23 per cent.

Mr Goi is also the executive chairman of global food and beverage group Tee Yih Jia Group, and GSH Corporation, a regional developer of premium residential and commercial properties, in addition to vice-chairman of Envictus International Holdings.

On Sept 11, JB Foods executive director and CEO Tey How Keong acquired 200,000 shares for a consideration of S$108,000 at a price of 54.00 cents per share.

This took his total interest in JB Foods from 46.41 per cent to 46.47 per cent.

Mr Tey has over 25 years of experience in the cocoa business and is responsible for the overall strategic, management and business development of the group.

Goodland Group

On Sept 16, Goodland Group managing director and CEO Alvin Tan Chee Tiong acquired 618,000 shares of the listed company for a consideration of S$92,700.

At 15.00 cents per share, the married deal took his total interest in Goodland Group from 79.49 per cent to 79.67 per cent.

He is primarily responsible for the overall management, performance, as well as the formulation of corporate strategies of the group.

Under his leadership, the group has seen a significant expansion in its holdings, and a substantial increase in capital base.

He possesses more than 20 years of industry experience in both the construction and property development businesses.

Hock Lian Seng Holdings

On Sept 14, Hock Lian Seng Holdings executive director and CEO Chua Leong Hai acquired 195,000 shares of the listed company for a consideration of S$47,488.

At 24.35 cents per share this increased his total interest in Hock Lian Seng Holdings from 37.86 per cent to 37.90 per cent.

Mr Chua is the founder of the group and has been instrumental in growing the company from a small construction outfit to one listed on the Mainboard.

Mr Chua is a controlling shareholder of the company and the father of Chua Siok Peng, who is also an executive director of the company.

Roxy-Pacific Holdings

Between Sept 10 and 15, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 140,000 shares of the listed company for a consideration of S$45,825.

At 32.73 cents per share, this increased his total interest in Roxy-Pacific Holdings from 0.80 per cent to 0.81 per cent.

This represented 30 per cent more shares than Mr Tan acquired over the preceding five sessions.

The independent director has gradually increased his total interest in the company from 0.71 per cent on March 29.

He has been a non-executive director of Roxy-Pacific Holdings since December 2006.

Mr Tan is also executive chairman of Serrano and non-executive director of Plastoform Holdings.

VibroPower Corporation

Between Sept 10 and 14, VibroPower Corporation substantial shareholder Chng Beng Hock increased his total interest in the stock from 11.86 per cent to 12.00 per cent.

The 76,200 shares were acquired at an average price of 15.00 cents per share, with a consideration of S$11,431.

Mr Chng has gradually increased his substantial shareholding in VibroPower Corporation from 5.24 per cent on June 15.

  • 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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