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INSIDE INSIGHTS

Earnings season kicks off; close to 40 director acquisitions filed

FOR the 2018 year through to Oct 18, the Straits Times Index (STI) has generated a 6.7 per cent decline in total return, amid regional mixed moves that have ranged from a 4.9 per cent total return for the Nikkei 225 Index to a 25.2 per cent decline for China's CSI 300 Index.

For the five trading sessions ended Oct 18, the STI gained 0.7 per cent, with regional benchmarks comprising the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a one per cent gain.

Share buybacks

There were 19 stocks conducting buybacks over the five sessions ended Oct 18.

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The consideration totalled S$8.4 million, which was down from the DBS Group Holdings-led S$34 million total the preceding week.

City Developments, Hi-P International and SATS led the tally, while no new mandates were commenced.

Director and substantial shareholder transactions

The five sessions spanning Oct 12 to 18 saw almost 50 primary-listed stocks lodge 140 changes in director interests or substantial shareholdings.

There were 39 company director acquisitions and no disposals filed, while substantial shareholders filed 13 acquisitions and six disposals.

Sunningdale Tech executive director and CEO Khoo Boo Hor vested 300,000 share awards from a Sunningdale Tech restricted share plan. The vesting of these share awards took his direct stake in the stock to 2.06 per cent.

Prior to Mr Khoo's appointment as CEO, he was the group operations director and was responsible for the group's manufacturing operations.

Allied Technologies

Between Oct 12 and 16, Allied Technologies executive director Kenneth Low Si Ren acquired 30 million shares of the stock for a consideration of S$575,600.

This has taken his direct holdings in the manufacturer of precision stamped metal parts to 80 million shares, representing a stake of 4.52 per cent.

Mr Low was appointed to the board of directors on June 27, 2018 and responsibilities include managing and overseeing the group's strategic investments and corporate development activities.

Oxley Holdings

Between Oct 12 and 16, Oxley Holdings (Oxley) executive chairman and CEO Ching Chiat Kwong acquired 865,600 shares of Oxley for a consideration of S$269,832.

This took his total stake in the stock to 41.47 per cent.

Prior to establishing Oxley, Mr Ching invested in, developed and successfully launched 13 residential property projects in various parts of Singapore.

Oxley now maintains a business presence in 12 geographical markets.

Oxley deputy CEO & executive director Eric Low See Ching also acquired 400,000 shares of the stock for a consideration of S$124,000.

This increased his direct stake in the home-grown property developer to 27.73 per cent.

Mr Low is responsible for business development, as well as supporting Mr Ching in the formulation of corporate strategies and future direction of the group.

Mr Low is also a non-executive director of Hafary Holdings where he previously served as CEO.

PropNex

On Oct 11, PropNex co-founder, executive chairman and CEO Mohamed Ismail Gafoor acquired 400,000 shares of the stock for a consideration of S$211,252.

The acquisition took his total interest in PropNex to 63.71 per cent.

The majority of Mr Mohamed Ismail's deemed stake is via his 62 per cent ownership of P&N Holdings Pte Ltd (P&N).

Also on Oct 11, PropNex co-founder and executive director Alan Lim Tow Huat increased his stake in the stock.

He acquired 65,000 shares of PropNex at a consideration of S$34,000.

Mr Lim's total stake in PropNex is now 59.9 per cent, with the majority of his deemed stake maintained via his 38 per cent ownership of P&N.

UMS Holdings

On Oct 11, UMS Holdings chairman and CEO Andy Luong acquired 250,000 shares of the precision engineering group for a consideration of S$163,750.

This took his total stake in the stock to 20.47 per cent.

As president and founder of the UMS Group, Mr Luong has more than 20 years of experience in manufacturing front-end semiconductor components.

Silverlake Axis

Between Oct 12 and 16, Silverlake Axis executive director Goh Shiou Ling acquired 330,400 shares of the stock for a consideration of S$137,566.

This took her direct stake in Silverlake Axis to 0.012 per cent.

Ms Goh was appointed a Silverlake Axis executive director on April 1, 2018, leading Silverlake Axis' strategic acquisitions and investments team to contribute to the growth and value creation of the company.

UOB-Kay Hian Holdings

Between Oct 11 and 17, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH which now stands at 27.74 per cent.

Mr Wee acquired 103,400 UOBKH shares for a consideration of S$126,125.

The chairman has gradually increased his total stake in UOBKH from 26.51 per cent at the end of 2017.

Koufu Group

On Oct 16, Jun Yuan Holdings Pte Ltd (Jun Yuan Holdings) acquired 195,600 shares of Koufu Group for a consideration of S$120,585.

This increased Jun Yuan Holdings' stake in Koufu Group to 78.25 per cent.

Both Koufu Group executive chairman and CEO Pang Lim and executive director Ng Hoon Tien hold 50 per cent of the shares of Jun Yuan Holdings.

Both Mr Pang and Mdm Ng are founding shareholders of Koufu Group. Mr Pang is responsible for the overall management and operations of the group, setting and executing the strategic directions and expansion plans for the growth and development of the group.

Mdm Ng is responsible for the oversight of the operations of Koufu Group. Mdm Ng also assists Mr Pang in the formulation and implementation of the group's business strategies and the F&B operations of the company.

Q & M Dental

Q & M Dental Group - Singapore (Q & M) founder and group CEO Ng Chin Siau continued to increase his total stake in the stock, which is now at 51.94 per cent.

Between Oct 11 and 17, Dr Ng acquired 186,700 shares for a consideration of S$91,508.

The majority of Dr Ng's interest in Q & M Dental Group (Singapore) is by virtue of his 43.91 per cent direct shareholding in Quan Min Holdings Pte Ltd.

Dr Ng began 2018 with a 49.88 total per cent stake in Q & M. He is responsible for the corporate direction of the group, leading it in all aspects of its business strategies, policy planning and business development in Singapore and overseas.

Hai Leck Holdings

On Oct 15, Hai Leck Holdings (Hai Leck) founder and executive chairman, Cheng Buck Poh acquired 109,200 shares of the stock for a consideration of S$63,336.

This took his total interest in the integrated services provider to 83.88 per cent.

Mr Cheng is responsible for charting corporate directions and strategies for the group. He has been gradually building his stake in recent weeks, which stood at 83.34 per cent at the end of August 2018.

Prior to this, Mr Cheng's two most recent filed acquisitions were in April 2017 and Sept 2016.

Sinarmas Land

Between Oct 16 and 17, Sinarmas Land (SML) lead independent director Hong Pian Tee acquired 150,000 shares of the stock for a consideration of S$40,748.

This took his direct stake in Sinarmas Land to 0.042 per cent.

Mr Hong's experience and expertise has spanned corporate advisory, financial reconstruction and corporate insolvencies since 1977.

He also serves as the non-executive chairman and an independent director of AsiaPhos, and as an independent director of XMH Holdings.

He was also previously an independent director of Golden Agri-Resources from 2001 to 2017 and Memstar Technology from 2010 to 2017.

Keong Hong Holdings

Between Oct 11 and 15, Keong Hong Holdings non-executive and non-independent director Lionel Leo Zhen Wei acquired 77,800 shares of the company for a consideration of S$39,487. This took his direct interest in the stock to 0.16 per cent.

He has built this stake in Keong Hong Holdings with a series of nine acquisitions since July 16.

Mr Leo is a partner in the banking and financial disputes practice of WongPartnership LLP.

He is also the son of the chairman and CEO of Keong Hong Holdings, Ronald Leo Ting Ping.

BM Mobility

On Oct 12, BM Mobility executive chairman Koo Ah Seang acquired 1,350,100 shares of the stock for a consideration of S$16,201.

This took his stake in the stock from 14.90 per cent to 15.16 per cent.

Mr Koo has more than 20 years of experience and knowledge in general and financial management and corporate restructuring.

Jadason Enterprises

On Oct 12, Jadason Enterprises substantial shareholder Liaw Hin Hao acquired 167,200 shares of the stock for a consideration of S$5,588.

The substantial shareholder's direct stake in the stock has gradually increased to 7.7797 per cent, from 6.0834 per cent as at Dec 29, 2017.

New Silkroutes Group

Between Oct 12 and 15, New Silkroutes Group executive director and CEO Goh Jin Hian acquired 22,000 shares for a consideration of S$5,190.

This took his stake in the group to 3.666 per cent which has gradually increased from 3.426 per cent on Feb 27.

Dr Goh is also the chairman and independent director of Cordlife Group.

Prior to joining New Silkroutes Group, Dr Goh was a C-suite executive in ParkwayHealth from 1999 to 2011 and an executive director in a private oil and gas company from 2012 to 2014.

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