Directors file 30 acquisitions as STI edges higher

FOR the five trading sessions spanning Dec 6 to Dec 12, the Straits Times Index (STI) gained 0.7 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 1.1 per cent return.

This has brought the STI's 2019 total return through to Dec 12, to 8.2 per cent.

Share buybacks

There were 13 primary-listed stocks conducting share buybacks over the five sessions ended Dec 12 with a total consideration of S$15.8 million, half the S$31.4 million consideration for the preceding week.

OCBC, Singapore Technologies Engineering and Keppel Reit led the consideration tally.

Director and substantial shareholder transactions

The five sessions spanning Dec 6 to Dec 12 saw 125 changes in director interests and substantial shareholdings filed for close to 50 primary-listed stocks.

There were a total of 30 company director acquisitions and three disposals filed, with substantial shareholders filing 15 acquisitions and 11 disposals.

Cache Logistics Trust

On Dec 11, ARA Asset Management Ltd announced that it has entered into a strategic transaction with LOGOS Group to establish a best-in-class logistics real estate development and investment management partnership in the Asia-Pacific region.

Subject to approval, the transaction will see the ARA Group transfer its entire holdings in both Cache Logistics Trust and the manager of Cache Logistics Trust, ARA Asset Management (Cache) Ltd, to LOGOS.

Upon completion, the ARA Group will retain control of the manager through LOGOS.

As detailed in a filing, as consideration for the subscription of new shares in LOGOS China, the ARA Group is, among other things, procuring the transfer of 108,683,026 units in Cache Logistics Trust to a subsidiary of LOGOS China, subject to the provisions of the share subscription and purchase agreement.

The units to be transferred represent 10.037 per cent of the total number of issued units of Cache Logistics Trust.

SPH Reit

Between Dec 5 and 6, SPH Reit Management Pte Ltd chairman and non-executive and independent director Leong Horn Kee acquired 300,000 units of SPH Reit. With a consideration of S$321,000, the average unit price of the transaction was S$1.07.

This took his total interest in SPH Reit from 0.007 per cent to 0.018 per cent. He is the chairman of CapitalCorp Partners Private Ltd, a corporate finance advisory firm.

He is currently Singapore's non-resident High Commissioner to Cyprus and a Member of Parliament for 22 years from 1984 to 2006.

AMOS Group

Between Dec 9 and 11, AMOS Group executive chairman Kyle Arnold Shaw, Jr, acquired 7,433,000 shares of the listed company for a consideration of S$261,168.

At an average share price of S$0.0351, the acquisitions took his total interest in the marine and offshore product, services and solutions provider from 73.73 per cent to 74.02 per cent.

He has been involved in Asian private equity fund management for 25 years and has led a variety of investment transactions across Asia.

The AMOS Group is headquartered at its technologically advanced fulfilment centre in Singapore, with a network that strategically links 12 key locations across Asia, the Middle East and Europe, enabling single-point sourcing and supply for its customers. Following its acquisition of industry peer AMOS International Holdings in October 2018, energy services company Gaylin Holdings renamed itself AMOS Group, with AMOS an acronym for All Marine Offshore Solutions. On Aug 1, AMOS Group appointed Dan Tan as its new CEO.

Roxy-Pacific Holdings

On Dec 5, Kian Lam Investment Pte Ltd acquired 650,000 shares of Roxy-Pacific Holdings for a consideration of S$250,250. The married deal was transacted at S$0.385 per share.

This took the total interest of executive chairman and CEO, Teo Hong Lim, in the established property and hospitality group, from 62.74 per cent to 62.79 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 0.905 per cent to 0.855 per cent.

Similar married deals were conducted between Mr Teo and Mr Tan on Nov 19, Oct 15, Aug 27, May 27 and 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.

UOB-Kay Hian Holdings

Between Dec 6 and Dec 11, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.48 per cent. Mr Wee acquired 190,000 shares for a consideration of S$231,800 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

On Dec 10, Heeton Holdings deputy chairman and executive director Toh Giap Eng acquired 500,000 shares of the real estate conglomerate for a consideration of S$230,000.

At an average price of S$0.460 per share, this took his total interest in Heeton Holdings from 40.03 per cent to 40.18 per cent.

His preceding acquisitions between Nov 29 and Dec 2 consisted of 300,000 shares at an average price of S$0.467 per share, preceded by 200,000 shares on Aug 13 at S$0.437.

Mr Toh's role at Heeton Holdings is to identify and secure investment and development properties in new markets, explore and develop related or new businesses as well as assist the chairman in the overall stewardship and governance of the group.

Sinostar PEC

On Dec 11, Intelligent People Holdings Ltd (IPHL) acquired 980,000 shares of Sinostar PEC Holdings (Sinostar) for a consideration of S$202,468 at an average price of S$0.2066 per share. The acquisitions took IPHL's total interest in Sinostar from 57.64 per cent to 57.79 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 28 and Dec 2 at S$0.2143 per share and between Nov 26 and 27 at S$0.2108 per share.

iFAST Corporation

Between Dec 5 and 6, iFAST Corporation chairman and CEO Lim Chung Chun acquired 126,600 shares of the listed company for a consideration of S$128,866. At an average price of S$1.018 per share, the acquisition took his total interest in iFAST Corporation from 22.244 per cent to 22.291 per cent.

Mr Lim's preceding acquisitions of iFAST Corporation shares took place between Nov 1 and 4, with 145,000 shares acquired at S$1.023 per share, and between Sept 18 and 19, with 138,400 shares acquired at an average price of S$0.999 per share.

Mr Lim is also the co-founder of iFAST Corporation and is responsible for setting the strategic direction of the group together with the board and oversees the entire overall management of the group. From 1991 to 1998, he was an investment analyst with two securities companies in Singapore and eventually rose to become the head of research at ING Barings Securities Pte Ltd.

Sing Investments & Finance

On Dec 4, FH Lee Holdings (Pte) Ltd acquired 87,000 shares of Sing Investments & Finance (SIF) for a consideration of S$124,410 at S$1.42 per share.

This increased the total interest of SIF's managing director, Lee Sze Leong, and deputy managing director, Lee Sze Siong, to 30.311 per cent and 30.344 per cent, respectively.

The previous acquisitions involved 178,500 shares at S$1.42 per share on Sept 4 and 50,000 shares at S$1.44 per share on June 3.

Mr Lee Sze Leong has served as director of SIF since February 1989 and was appointed its managing director/CEO in January 1997.

Mr Lee Sze Siong joined the company in 1986 and was appointed to the board in March 1997.

He oversees the company's credit documentation & operations, credit control, finance, IT support, product management, HR and tenancy and building maintenance.

Envictus International Holdings

Between Dec 5 and 10, Envictus International Holdings non-executive director and vice-chairman Sam Goi Seng Hui increased his total interest in the stock from 24.27 per cent to 24.55 per cent.

Mr Goi, who is also the executive chairman of Tee Yih Jia Group and GSH Corporation, acquired 694,800 shares of Envictus International for a consideration of S$81,335 at an average price of S$0.1171 per share.

Hwa Hong Corporation

Between Dec 9 and 10, Hwa Hong Corporation (Hwa Hong) substantial shareholder Steven Ong Kay Eng increased his direct stake in Hwa Hong from 15.653 per cent to 15.684 per cent. Mr Ong acquired 209,000 shares for a consideration of S$65,111, at S$0.315 per share.

Hai Leck Holdings

On Dec 9, Hai Leck Holdings (Hai Leck) founder and executive chairman, Cheng Buck Poh acquired 99,500 shares of the engineering, procurement and construction (EPC) services company for a consideration of S$52,238 at S$0.525 per share. This took his total interest in Hai Leck from 84.40 per cent to 84.46 per cent.

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

Mr Cheng's total interest in Hai Leck was 83.34 per cent at the end of August 2018.

Rex International

On Dec 12, Rex International executive director and chairman Dan Broström acquired 285,000 shares of the Catalist-listed stock for a consideration of S$49,305. At S$0.173 per share, this took Mr Broström's total interest in the technology-driven oil company to 0.87 per cent.

GK Goh Holdings

Between, Dec 9 and 11, GKG Investment Holdings Pte Ltd (GKGI) acquired 39,700 shares of GK Goh Holdings for a consideration of S$33,311 at an average price of S$0.8391 per share. This took GKGI's total interest in the listed company from 60.66 per cent to 60.67 per cent.

GKGI's preceding acquisitions were between Dec 3 and 5 with 46,100 shares acquired at S$0.8354 per share, 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.