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Director filings rise as earnings season ends
FOR the five trading sessions spanning Nov 15 to 21, the Straits Times Index (STI) declined 1.2 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 0.2 per cent decline.
This has brought the STI's 2019 total return through to Nov 21, to 8.1 per cent.
There were 13 primary-listed stocks conducting share buybacks over the five sessions ended Nov 21 with a total consideration of S$17.5 million.
This followed on from S$14.7 million in buyback consideration for the preceding week.
Director and substantial shareholder transactions
The five sessions spanning Nov 15 to Nov 21 saw more than 120 changes in director interests and substantial shareholdings filed for 50 primary-listed stocks.
There were 21 company director acquisitions and 11 disposals filed, with substantial shareholders filing 20 acquisitions and 18 disposals.
AIMS APAC Reit
On Nov 12, ESR Cayman Ltd (ESR) acquired 1,346,300 units in AIMS APAC Reit (AA Reit) for a consideration of S$1,878,358 at S$1.395 per unit.
The market transaction increased ESR Cayman Ltd's deemed interest in AA Reit across the 10 per cent threshold, from 9.828 per cent to 10.021 per cent.
Earlier this month on Nov 4, a married deal increased ESR Cayman Ltd's deemed interest in AA Reit from 5.24 per cent to 9.09 per cent.
ESR's direct interest in AA Reit is 1.285 per cent with deemed interests of 8.736 per cent from units held by e-Shang Infinity Cayman Ltd and ESR HK Management Ltd.
On Nov 15, CSE Global deputy chairman and non-executive, non-independent director Mohd Abdul Karim bin Abdullah disposed of 2 million shares of the global technologies company.
The consideration of the transaction totalled S$1,069,580 with the average price at S$0.535 per share.
This took Mr Karim's deemed interest in CSE Global from 26.02 per cent to 25.63 per cent.
Back on Sept 12, 2018, he acquired 2 million shares of CSE Global for a consideration of S$894,683 at S$0.447 per share.
This means the 2 million CSE Global shares were sold 19.5 per cent higher than the 2 million shares acquired by Mr Karim some 14 months ago.
Mr Karim also disposed of 39,000 shares of CSE Global on Nov 20 at S$0.56 per share, taking his deemed interest in the listed company to 25.62 per cent.
On Nov 19, Kian Lam Investment Pte Ltd acquired 1,320,000 shares of Roxy-Pacific Holdings for a consideration of S$501,600.
The married deal was transacted at S$0.38 per share.
This took the total interest of executive chairman and CEO Teo Hong Lim, in the established property and hospitality group, from 62.64 per cent to 62.74 per cent.
Mr Teo has been a director of Roxy-Pacific Holdings since May 1993 and currently sets out the group's strategies and leads overall management.
On the other side of the married deal, Roxy-Pacific Holdings' independent director Winston Tan Tien Hin reduced his total interest in the listed company from 1.006 per cent to 0.905 per cent.
Similar sized married deals were conducted between Mr Teo and Mr Tan on Oct 15, Aug 27, May 27 with a larger transaction on May 21.
These married deals have seen Mr Tan reduce his total interest in Roxy-Pacific from 1.068 per cent and Mr Teo increase his total interest from 61.98 per cent.
On Nov 14, United Global executive director and CEO Jacky Tan Thuan Hor acquired one million shares of the Catalist-listed company at 48 cents per share and a consideration of S$480,000. This took Mr Tan's total interest in the Singapore-based lubricant manufacturer and trader from 35.06 per cent to 35.38 per cent.
Mr Tan is responsible for the overall strategic, management and business development of the group.
He is one of the founders of the group and has close to 20 years of experience in the lubricant industry.
Mr Tan's spouse, executive director Ety Wiranto, also maintains a total stake of 35.38 per cent in United Global.
Mr Tan's preceding acquisition of United Global shares was back on Aug 14, 2018, when he acquired 350,000 shares at 40 cents per share.
On Nov 19, GL substantial shareholder Quek Leng Chan increased his deemed interest in the stock with the acquisition of 367,000 shares for a consideration of S$288,095.
Transacted at a price of S$0.785 per share, this took his total interest in GL to 70 per cent.
Mr Quek was previously a director and chairman of GL before stepping down from the role in September 2016.
UOB-Kay Hian Holdings
Between Nov 15 and 20, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.44 per cent.
Mr Wee acquired 163,100 shares for a consideration of S$198,982 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.
On Nov 19, Ng Yew Yam acquired 1,245,100 shares of Synagie Corporation for a total consideration of S$156,883.
At an average price of S$0.126 per share, the transaction took Ng Yew Yam's direct interest in the Catalist-listed e-commerce company above the substantial shareholder threshold, from 4.74 per cent to 5.21 per cent.
Food Empire Holdings Group
On Nov 14, Food Empire Holdings Group (Food Empire) CEO Sudeep Nair acquired 230,800 shares of the listed company for a consideration of S$138,226.
At an average price of S$0.599 per share, this increased Mr Nair's total stake in Food Empire from 11.33 per cent to 11.37 per cent.
Mr Nair has gradually increased his stake in the stock from 8.82 per cent at the end of 2016.
Mr Nair is responsible for the group's day-to-day operations.
His preceding acquisition of Food Empire shares was on Nov 12, involving 1,340,700 shares at S$0.56 per share.
Between Nov 19 and 20, Intelligent People Holdings Ltd (IPHL) acquired 551,000 shares of Sinostar PEC Holdings (Sinostar) for a consideration of S$108,532 and price of S$0.197 per share.
The acquisition took IPHL's total interest in Sinostar from 57.11 per cent to 57.20 per cent.
Sinostar non-executive chairman Li Xiang Ping has a 100 per cent shareholding interest in IPHL.
IPHL's preceding acquisition was Sept 27, with 528,500 shares acquired at a price of S$0.2197 per share.
Mr Li also made multiple acquisitions of Sinostar shares via IPHL back in 2018.
In 2019 year-to-date, he increased his total interest from 52.190 per cent prior to Dec 27, 2017.
Choo Chiang Holdings
Between Nov 14 and 15, Choo Chiang Holdings' independent director Danny Lim Teck Chai acquired 130,000 shares of the listed company for a consideration of S$37,650 at an average price of S$0.2896 per share.
These were the first acquisitions Mr Lim has made since he was appointed to the board of Choo Chiang Holdings on Aug 20, 2018.
Mr Lim has 20 years of experience in the legal industry and is currently an equity partner in Rajah & Tann Singapore LLP.
He is also an independent director of Sincap Group, Tee Land, China Star Food Group and UG Healthcare Corporation.
The transactions took Mr Lim's total interest in Choo Chiang Holdings to 0.06 per cent.
On Nov 19, KTMG non-executive and lead independent director Goh Yeow Tin acquired 200,000 shares of the listed company for a consideration of S$30,000 at S$0.15 per share.
This took Mr Goh's total interest in the Malaysia-based apparel contract manufacturer from 0.06 per cent to 0.18 per cent.
Mr Goh, who began his career in 1979 with the Economic Development Board, is also an independent director of Sheng Siong Group, AsiaPhos, Vicom and TLV (Holdings).
Bonvests Holdings chairman and managing director Henry Ngo increased his deemed interest in the listed company on Nov 14.
He acquired 23,800 shares for a consideration of S$28,380, at an average price of S$1.192 per share.
This increased his total interest in Bonvests Holdings from 83.12 per cent to 83.13 per cent.
Mr Ngo is also the founder of Bonvests Holdings and is responsible for mapping out the corporate and growth strategy of the group.
His preceding acquisition was on Oct 3, and involved 80,000 shares at S$1.21 per share.
Hwa Hong Corporation
On Nov 18, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui increased his direct stake in Hwa Hong from 5.986 per cent to 6.000 per cent.
Dr Ong acquired 90,100 shares of the property rental investor and developer for a consideration of S$28,332 at an average price of S$0.314 per share.
This also increased the deemed and hence total Hwa Hong interest of Dr Ong's father, Steven Ong Kay Eng, to 15.653 per cent.
Dr Ong has gradually increased his total interest in Hwa Hong from 5.316 per cent at the end of 2018.
- The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit sgx.com/research.