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INSIDE INSIGHTS

Earnings in focus; fewer director filings & 5 stocks conduct buybacks

FOR the 2018 year through to Nov 8, the Straits Times Index (STI) has generated a 5.9 per cent decline in total return, amid regional mixed moves that have ranged from a 2 per cent gain for the Nikkei 225 Index to a 21.5 per cent decline for China's CSI 300 Index.

For the four trading sessions ended Nov 8, the STI gained 1.1 per cent, while the Hang Seng Index, Nikkei 225 index and S&P/ASX 200 gained 2.6 per cent.

The Singapore market was closed for trading on Nov 6 for the Deepavali Holiday.

Share buybacks

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There were just five stocks/trusts conducting buybacks over the four sessions ended Nov 8, down from 10 stocks for the preceding five sessions. The consideration totalled S$22.0 million, up from S$9.3 million the preceding week.

From July 6 to Nov 7, DBS Group Holdings has bought back 10,854,800 shares representing 0.4234 per cent of its issued shares (excluding treasury shares) as of the approval of the share buyback resolution April 25.

A maximum of 51,277,414 shares are authorised for its current buyback mandate, which represented 2 per cent of its issued ordinary shares as of April 25.

Director and substantial shareholder transactions

The four sessions spanning Nov 1 to 8 saw just 37 primary-listed stocks lodge close to 75 changes in director interests or substantial shareholdings.

There were seven company director acquisitions and no disposals filed, while substantial shareholders filed seven acquisitions and nine disposals.

For the same week in 2017, approximately 40 primary-listed stocks filed 90 changes in director interests and/or substantial shareholders.

Y Ventures

Married deals between Nov 1 and 2 saw Prism Investment Ventures Ltd reduce its total stake in Y Ventures from 11.11 per cent to 4.03 per cent.

On Nov 2, Y Ventures executive chairman and managing director Adam Low Yik Sen and CEO and executive director Alex Low Yik Jin both increased their deemed interest in Y Ventures by 1.34 per cent.

Mr Adam Low and Mr Alex Low are brothers and the co-founders of the Singapore-based, data analytics driven e-commerce company. Mr Adam Low is responsible for overseeing the logistics arm of the group, focusing on sourcing and procurement, freight forwarding as well as waste management services.

Mr Alex Low is responsible for the overall day-to-day management of the group including business strategy, online marketplace channel expansion, online sales and technology development.

Roxy Pacific

Kian Lam Investment Pte Ltd acquired 200,000 shares of Roxy-Pacific Holdings for a consideration of S$76,000 on Nov 2.

This took the total interest of executive chairman and CEO Teo Hong Lim in the established property and hospitality group to 61.98 per cent.

His preceding acquisition of Roxy-Pacific Holdings shares was for 158,000 shares on July 6.

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.

The company also bought 543,800 shares between Nov 2 and 8. Since the current buyback mandate began on April 6, Roxy Pacific Holdings has bought back some 8.1 million shares, representing 0.68 per cent of its issued shares (excluding treasury shares) as of the mandate.

Shinvest Holding

On Nov 7, Shinvest Holding managing director Teo Teck Leong acquired 69,800 shares of the specialist manufacturer for a consideration of S$49,170. This took his deemed stake in the stock to 8.516 per cent.

Mr Teo is the CEO of the company's wholly-owned subsidiary, Sin Hong and has been a director of GD Tech since 28 March 2011.

He also sits on the board of all of Sin Hong's subsidiaries and one of the subsidiaries of GD Tech, and oversees the businesses of Sin Hong and its subsidiaries and GD Tech and its subsidiaries.

Hwa Hong Corporation

On Nov 7, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui acquired 91,900 shares of the investment holding company for a consideration of S$26,886.

This took Dr Ong's direct stake in the stock to 5.291 per cent.

This also increased the total stake of Hwa Hong substantial shareholder Steven Ong Kay Eng to 14.783 per cent.

Mr Steven Ong has gradually grown his stake in the company from 10.80 per cent on Nov 28, 2016, and 7.38 per cent at the end of 2014.

GRP

Between Oct 29 and 30, GRP chairman Daniel Teo Tong How acquired 200,000 shares of GRP for a consideration of S$26,000.

Mr Teo was appointed as an independent director of GRP in July 2014, and his stake in GRP is now 4.14 per cent.

Mr Teo's preceding acquisition of GRP shares totalled 150,000 shares on Sept 26.

Mr Teo is the managing director of Hong How Group of Companies and director of Tong Eng Brothers Group.

The businesses of these companies range from property development and investment holding in sectors such as commercial, residential, industrial and hospitality in Singapore, Malaysia, Australia, the US, UK, Spain and Sweden.

Jadason Enterprises

On Nov 7, Jadason Enterprises substantial shareholder Liaw Hin Hao acquired 330,100 shares of the stock for a consideration of S$9,753.

The substantial shareholder's direct stake in the printed circuit board supplier has gradually increased to 7.9198 per cent, from 6.0834 per cent as at Dec 29, 2017.

Singapore eDevelopment

On Nov 2, Singapore eDevelopment (SeD) executive chairman and CEO Chan Heng Fai acquired 25,000 shares of SeD for a consideration of S$1,100.

The global business veteran, who has restructured over 35 companies in various industries and countries in the past 40 years, maintains a total stake in SeD of 69.90 per cent.

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