Ho Bee Land chairman continues to build stake

FOR the five trading sessions that spanned Sept 10 to 16, the Straits Times Index (STI) declined 0.2 per cent, with the FTSE China A50 Index, Hang Seng Index and FTSE Bursa Malaysia KLCI averaging a 3.2 per cent decline.

Within the STI, Singapore Telecommunications Z74 , City Developments C09 , UOB U11 , Mapletree Commercial Trust N2IU and Keppel Corporation BN4 received the highest net institutional inflows from Sept 10 to 16, while outside the STI, Singapore Press Holdings T39 , iFAST Corporation AIY , and AEM Holdings AWX : AWX 0% received the highest net institutional inflows.

Overall, institutions were net sellers over the five sessions, with S$121 million of net outflow, with Yangzijiang Shipbuilding BS6 (Holdings), Singapore Exchange S68 and Singapore Airlines C6L : C6L 0% seeing the highest net institutional outflows.

Share buybacks

There were a dozen primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$34.2 million, similar to the S$34.0 million consideration for the preceding five sessions.

OCBC O39 , UOB U11 and OUE LJ3 : LJ3 0% again led the consideration tally. OCBC bought back 1.98 million shares at an average price of S$11.65 per share, while UOB bought back 360,000 shares at an average price of S$25.68 per share. OUE bought back 600,500 shares at an average price of S$1.42 per share.

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Director and substantial shareholder transactions

The five trading sessions saw 80 changes in director interests and substantial shareholdings filed for close to 40 primary-listed stocks.

This included 21 company director acquisitions with four disposals filed, while substantial shareholders filed four acquisitions and three disposals.

Ho Bee Land

Between Sept 10 and 14, Ho Bee Holdings acquired 196,200 shares of Ho Bee Land H13 : H13 0% for a consideration of S$550,913 at an average price of S$2.81 per share.

Ho Bee Land chairman and CEO, Chua Thian Poh owns 82.5 per cent of the shares of Ho Bee Holdings.

The acquisitions increased his deemed interest in Ho Bee Land from 75.50 per cent to 75.53 per cent.

This followed Ho Bee Holdings acquiring 39,700 shares of Ho Bee Land at S$2.80 per share on Aug 27 and Ng Noi Hinoy, the spouse of Mr Chua, acquiring 50,000 shares of Ho Bee Land at S$2.79 per share on Sept 3.

Headquartered in Singapore, Ho Bee Land maintains a portfolio that covers quality residential, commercial and high-tech industrial projects.

Back on Aug 12, Ho Bee Land reported that its H1FY21 (ended June 30) net profit after tax and on-controlling interests increased 16 per cent from H1FY20 to S$105.5 million on higher rental income and development profits.

In Singapore, apart from being a leading developer of luxury homes in the exclusive residential enclave of Sentosa Cove, its portfolio of investment properties includes the commercial landmark in the one-north precinct, The Metropolis.

Grand Banks Yachts

On Sept 9, Arminella Pty Ltd as Trustee for SJHA Investment Trust acquired 525,000 shares of the company at 29.0 cents per share. With a consideration of S$152,250, this increased the substantial shareholders' total interest in the manufacturer of luxury recreational motor yachts from 8.98 per cent to 9.26 per cent.

On Aug 27, Grand Banks Yachts G50 : G50 0% reported that its FY21 (ended June 30) net profit increased 300.5 per cent from FY20 to S$4.2 million as the pandemic led to strong demand for luxury boats in the United States, despite production halts at its Malaysian yard.

Grand Banks recorded 40 new boat orders and six trade-in boat orders for FY21, lifting the net order book to a record high since the Global Financial Crisis to S$116.9 million as at June 30, 2021, compared to S$48.9 million as at June 30, 2020.

On its outlook, the group expects demand for luxury boats, particularly in the US, to continue to sustain due to restricted or curtailed travel-related leisure activities caused by the pandemic.

GHY Culture & Media Holding Co

On Sept 14, GHY Culture & Media XJB : XJB 0% Holding Co executive chairman and group CEO Guo Jingyu acquired 138,300 shares of the company at an average price of 59.7 cents per share.

With a consideration of S$82,596, this increased Mr Guo's total interest in the producer and promoter of dramas, films and concerts, from 60.02 per cent to 60.03 per cent.

This followed his acquisition of 96,600 shares at 61.2 cents per share between Sept 3 and 7, and 255,200 shares at 61.5 cents per share between Aug 20 and 27.

Mr Guo is responsible for supervising the overall business operations and management of the group, as well as business strategies and providing executive leadership and supervision to the senior management team.

On Aug 11, the company reported H1FY21 (ended June 30) revenue growth of 17.9 per cent to S$3.8 million from H1FY20.

Mr Guo is also responsible for directing and producing the drama, film and online video series projects produced by the group. He has close to 30 years of experience in the entertainment industry.

As Mr Guo noted with the H1FY21 results, the group is currently expanding its regional presence, diversifying its pipeline portfolio of entertainment content and driving synergies across existing core businesses and beyond.

Goodland Group

On Sept 15, Goodland Group 5PC : 5PC 0% executive director Melanie Tan Bee Bee acquired 632,000 shares of the company at 13.0 cents per share.

With a consideration of S$82,160, the married deal increased her direct interest in the lifestyle property developer from 5.89 per cent to 6.07 per cent.

With the 73.83 per cent deemed interests, this took her total interest in Goodland Group to 79.90 per cent.

Ms Tan is responsible for overseeing the finances of the group, its strategic investments, acquisitions and finance, and joined the group as financial controller in 1995.

She also oversees the group's human resource and administration, and drives service innovation within the group.

Second Chance Properties

Between Sept 10 and 15, Second Chance Properties 528 : 528 0% founder and CEO Mohamed Salleh Marican acquired 331,600 shares of the company at 28.0 cents per share.

With a consideration of S$92,848, this increased his total interest in the properties and securities investor, apparel and gold retailer, from 69.33 per cent to 69.37 per cent.

He has gradually increased his total interest in Second Chance Properties from 67.13 per cent at the beginning of 2020.

GSH Corporation

Between Sept 9 and 10, GSH Corporation BDX : BDX 0% executive chairman Sam Goi Seng Hui acquired 304,600 shares at 17.0 cents per share.

With a consideration of S$51,782, this increased Mr Goi's total interest in the property developer, hotel and resort operator from 63.58 per cent to 63.59 per cent.

Asian Pay Television Trust

On Sept 10, the CEO of the Trustee-Manager of Asian Pay Television Trust S7OU : S7OU 0% (APTT), Brian McKinley acquired 400,000 units of APTT at 13.1 cents per unit.

With a consideration of S$52,400, this took his total interest in the business trust from 0.09 per cent to 0.11 per cent.

Prior to his appointment as CEO in April 2017, Mr McKinley was the chief financial officer of the trustee-manager, an office he held since the listing of APTT in May 2013, providing financial and strategic leadership to the company.

On Aug 13, APTT reported that for its Q2 2021 (ended 30 June), revenue decreased 2.3 per cent from Q2 2020 to S$73.7 million, while Ebitda gained 1.3 per cent from Q2 2020 to S$45.2 million, with the Ebitda margin improving by 2.4 percentage points to 61.4 per cent.

With the results, Mr McKinley noted that for four consecutive quarters, APTT has recorded revenue growth in both S$ and NT$, compared to the prior corresponding period. This reflects the success of its intensive marketing outreach to win subscribers away from the main competitor, by focusing on the broadband only segment and by offering higher speed plans at competitive prices.

Mr McKinley added that during Q2FY21, APTT recorded higher average revenue per user, alongside 9,000 more subscribers, which brought the growth of the broadband subscribers to 22 per cent over the past 30 months, while the increasing revenue from data backhaul also contributed to the higher broadband revenue.

Credit Bureau Asia

On Sept 10, Credit Bureau Asia TCU : TCU 0% founder & executive chairman Koo Chiang acquired 17,600 shares of the company for a consideration of S$21,977, at an average price of S$1.25 per share.

Mr Koo maintains a direct interest in Credit Bureau Asia of 68.00 per cent.

Since establishing the credit information business in Singapore in 1993, Mr Koo has been instrumental to the success and expansion of the group.

On Aug 5, the leading player in credit and risk information solutions in South-east Asia, reported that its H1FY21 (ended June 30) revenue increased 8.5 per cent from H1FY20 to S$22.26 million, with net profit before tax increasing 0.5 per cent from H1FY20, to S$10.95 million.

With the results, Mr Koo highlighted that going forward, the company is working on a series of projects such as the Moneylenders Credit Bureau and potential digital bank customers, which will continue to drive its business forward.

Mr Koo added that Credit Bureau Asia is also in dialogue with several parties in the region to forge alliances to bring the business to greater heights.

The Board of Credit Bureau Asia also declared an interim dividend of 1.70 cents per share for its H1FY21, which went ex-dividend on Aug 26, with a payment date of Sept 15.

The interim dividend represented about 100 per cent of the group's PATMI, exceeding the group's stated dividend policy in the Nov 2020 prospectus that recommended at least 90.0 per cent of net profit after tax attributable to its shareholders for FY21 and FY22.

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