Directors increase stakes in Info-Tech, MoneyMax, UltraGreen.ai, Sheffield Green, among others

OVER the five sessions through to Nov 12, more than 60 filings relating to directors’ interests and substantial shareholdings were filed for over 30 primary-listed stocks. Directors or CEOs reported 11 acquisitions and two disposals, while substantial shareholders filed six acquisitions and four disposals. This included CEO or director acquisitions filed for All-Link Air & Sea , Info-Tech Systems , JustCo Holdings , mDR , Lum Chang Creations , Mi Material Holding, Nera Telecommunications , Sheffield Green , Sunmoon Food Company , Ultragreen.ai and Wing Tai Holdings .

The five sessions through to Nov 12 also saw 20 primary-listed companies conduct buybacks with a total consideration of S$16.1 million. UOB led the buyback consideration tally with S$5.1 million. The Hour Glass also bought back just over 1.2 million shares at an average price of S$2.74 per share. Back on Nov 4, The Hour Glass noted that it had deployed approximately S$51.3 million through dividends and share buybacks in H1FY27 (ended Sep 30). The group paid S$25.6 million of the FY26 final dividend and repurchased 9.44 million shares for S$25.7 million, at an average cost of S$2.73 per share. The repurchased shares were held as treasury shares.

Eneco Energy establishes S$5 million share buyback programme

On Nov 10, Eneco Energy announced a S$5 million share buyback programme following shareholder approval of its share buyback mandate at the Oct 29 AGM. The mandate allows the company to repurchase up to 10 per cent of its issued ordinary shares, excluding treasury shares and subsidiary holdings. The S$5 million programme compares with Eneco Energy’s market capitalisation of S$26.6 million as at Nov 5.

For FY26, Eneco Energy reported net profit of S$1.88 million and earnings before interest, taxes, depreciation and amortisation (Ebitda) of S$8.81 million, while cash and bank deposits increased by S$11.28 million to S$27.82 million as of 30 June, supported by warrant exercise proceeds and positive operating cash flow. The buyback programme follows the group’s inaugural FY26 dividend of S$0.90 million.

Ang Jun Long, executive director of Eneco Energy, said the programme forms part of a more proactive approach to capital management following the improvement in financial performance and the balance sheet. He said the group would continue to balance shareholder returns with investments supporting the sustainable growth of its core logistics business and longer-term strategic objectives.

Info-Tech CEO raises stake as 9MFY26 revenue grows 20%

Between Nov 5 and 10, Setin Subramanian Dilip Babu, chief executive officer of Info-Tech Systems, acquired an aggregate 660,500 shares on-market for S$509,206, at an average price of S$0.771 per share. The purchases increased his direct interest to 41.68 per cent from 41.42 per cent previously.

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For 9MFY26 (ended Sep 30, 2026), Info-Tech Systems reported revenue growth of 20 per cent to S$42.6 million, with subscription revenue increasing 11 per cent to S$32.2 million and services revenue rising 82 per cent to S$8.6 million on strong demand for AI-related courses at Info-Tech Academy. Subscription revenue represented 76 per cent of group revenue, while customer retention remained above 90 per cent.

Looking ahead, Info-Tech Systems expects its core SaaS subscription business to continue steady double-digit growth, while FY26 revenue growth is expected to remain stable and sustainable. Training demand is expected to normalise following the exceptional surge in Q4FY25. The group also plans to launch Info-Tech Academy in Malaysia before the end of FY26, following approval of its curriculum and courses by Malaysia’s Human Resource Development Corporation. The company said the launch is expected to establish a new revenue stream and extend its AI-related training capabilities into another market.

MoneyMax co-founders’ deemed interests increase

Between Oct 29 and Nov 4, Money Farm acquired an aggregate 370,600 MoneyMax Financial Services shares on-market for S$163,020, at an average price of S$0.440 per share. The purchases increased Money Farm’s direct interest to 57.97 per cent from 57.94 per cent previously.

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As a result, Lim Yong Guan, executive chairman, chief executive officer and co-founder of MoneyMax Financial Services, and Lim Yong Sheng, non-executive director and co-founder, reported corresponding increases in their deemed interests arising from shares held by Money Farm. Following the Nov 4 purchase, Lim Yong Guan’s total interest stood at 70.69 per cent, while Lim Yong Sheng’s total interest stood at 68.21 per cent.

For H1FY26 (ended Jun 30, 2026), MoneyMax Financial Services reported revenue growth of 34.1 per cent to S$325.7 million, while profit attributable to shareholders increased 77.3 per cent to a record S$52.5 million. Pawnbroking revenue rose 60.1 per cent to S$69.2 million, while revenue from retail and trading of gold and luxury items increased 30.6 per cent to S$245.0 million.

The group said in August that it had added 26 stores across Singapore and Malaysia year to date and was on track to open a further 10 stores by end-2026, subject to regulatory approvals and operational readiness. It also raised S$44.3 million from a placement of 53 million new shares in conjunction with its transfer to the SGX mainboard, providing additional capital for expansion initiatives.

UltraGreen.ai CEO further increases direct interest

On Nov 6, Ravinder Sajwan, chief executive officer and executive director of UltraGreen.ai, bought 250,000 shares on-market for US$98,300, at an average price of US$0.393 per share. The purchase increased his direct interest to 0.24 per cent from 0.22 per cent previously, while his total interest increased to 62.39 per cent from 62.37 per cent. His deemed interest remained unchanged at 62.15 per cent.

In its Nov 10 investor presentation, UltraGreen.ai said its fluorescence-guided surgery products had enabled more than 7 million surgeries since 2015. The group estimated current market penetration at less than 10 per cent, with the market growing by 10 to 12 per cent annually. Rest-of-world revenue increased 36 per cent year on year to US$30.5 million in 9MFY26.

The presentation also set out a proposed capital-returns framework targeting an annual dividend payout of at least 30 per cent of net profit excluding exceptional items, with semi-annual distributions subject to board approval, alongside a proposed share buyback programme of up to US$30 million. As at Sep 30, UltraGreen.ai had US$214 million of cash and short-term investments and no debt. The group identified reinvestment in the business as its first capital-allocation priority, followed by dividends, strategic mergers and acquisitions, and share buybacks.

Lum Chang Creations managing director increases direct interest

On Nov 6, Lim Thiam Hooi, managing director of Lum Chang Creations, bought 124,300 shares on-market for S$31,696.50, or S$0.255 per share. The purchase increased his direct interest to 10.41 per cent from 10.39 per cent previously. Lim co-founded the group in 2018 and has more than 35 years of experience in the building industry, including more than two decades specialising in conservation, restoration, interior fit-out and addition and alteration works. As managing director, he oversees the group’s overall business, operations and performance and leads the formulation and execution of its strategic direction. For FY26 (ended Jun 30), Lum Chang Creations reported record net profit attributable to shareholders of S$22.3 million, up 73 per cent, despite revenue declining 11 per cent to S$101.6 million. Gross profit increased 61 per cent to S$36.0 million as gross margin expanded to 35.5 per cent from 19.7 per cent, driven by progress on higher-margin projects, disciplined cost management and efficient resource utilisation. The group ended FY26 with S$33.6 million in cash and cash equivalents and minimal borrowings.

As at 25 August, the group had an order book of approximately S$141.7 million, providing revenue visibility over the next two to three years. Lum Chang Creations said it would continue to tender selectively for projects that fit its capabilities and margin discipline, while its Malaysian subsidiary had obtained unlimited tender qualification, opening the way to larger interior fit-out and refurbishment projects in Malaysia.

Sheffield Green controlling shareholder raises stake as FY26 net profit rises

Between Nov 4 and 10, Sheffield Energies acquired an aggregate 176,800 Sheffield Green shares on-market for S$25,936, at an average price of S$0.147 per share. The purchases increased Sheffield Energies’ direct interest to 73.55 per cent from 73.46 per cent previously and correspondingly increased the deemed interest of Kee Boo Chye, chief executive officer, chairman and executive director of Sheffield Green. Kee holds 58.35 per cent of Sheffield Energies. The filings stated that the purchases were undertaken to increase Sheffield Energies’ shareholding due to Sheffield Green’s positive financial performance in FY26.

For FY26 (ended 30 June 2026), Sheffield Green reported revenue growth of 19.9 per cent to US$23.18 million, gross profit growth of 24.9 per cent to US$6.77 million and a 51.3 per cent increase in net profit to US$1.47 million. The group ended FY26 with net cash of US$5.97 million and no outstanding borrowings following the full repayment of its short-term loan.

Looking ahead, Sheffield Green said its FY27 priorities are to increase utilisation at its Taiwan and Spain training centres, develop its memorandum of understanding (MOU) with Vestas and similar industry relationships into recurring work, and advance its Sarawak joint venture.

The Vestas arrangement remains an MOU. In its Oct 23 response to questions from the Securities Investors Association (Singapore), the company said it targets finalising an agreement with Vestas before the end of January 2027, subject to the conclusion of negotiations. The group will also continue exploring earnings-accretive opportunities that offer synergies with its existing business.

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