Insider stakes rise alongside S$40 million of buybacks

[SINGAPORE] Over the five sessions to Oct 15, close to 90 filings relating to directors’ interests and substantial shareholdings were filed in 40 primary-listed stocks. Directors or CEOs reported 26 acquisitions and five disposals, while substantial shareholders recorded 15 acquisitions and three disposals. 

The five sessions to Oct 15 had 29 primary-listed companies conduct buybacks, with a total consideration of S$40.9 million.

UOB led the activity with S$14 million of buybacks, followed by Singtel with S$11.8 million.

Raffles Medical Group , Hong Fok Corporation and Seatrium also recorded buyback consideration exceeding S$1.9 million during the period, while Chuan Hup Holdings repurchased 6.14 million shares for S$1.67 million. 

Raffles Medical described share buybacks as part of its capital management framework to enhance shareholder value and improve return on equity, while providing an expedient, effective and cost-efficient way of returning surplus cash to shareholders.

The board also noted that repurchased shares may be retained as treasury shares for purposes including employee incentive schemes.

At its April 2026 annual general meeting, Raffles Medical also highlighted that it had increased its dividend commitment from up to 50 per cent of sustainable profit attributable to shareholders to at least 50 per cent of sustainable profit attributable to shareholders. 

Between Oct 8 and 12, Geo Energy Resources repurchased an aggregate 400,000 shares for S$216,518, extending its cumulative buybacks under the current mandate to 14.04 million shares, or 0.79 per cent of issued shares.

Reclaims Global repurchased 1.1 million shares for S$222,591, taking cumulative repurchases to 9.52 million shares, or 3.15 per cent of issued shares. 

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Institutional and insider accumulation rises as buybacks accelerate

Q & M founder’s deemed interest increases to 55.66%

Between Oct 9 and 15, Quan Min Holdings acquired an aggregate 10.53 million Q & M Dental Group (Singapore) shares on-market for S$5.8 million.

The acquisitions comprised 2.72 million shares on Oct 9 for S$1.48 million; 1.52 million shares on Oct 12 for S$841,035; 1.2 million shares on Oct 13 for S$663,754; 1.4 million shares on Oct 14 for S$772,002; and 3.68 million shares on Oct 15 for S$2.04 million. The purchases increased Quan Min Holdings’ direct interest to 55.65 per cent from 54.54 per cent previously. 

As a result, Dr Ng Chin Siau, the non-independent executive director and group CEO of Q & M Dental Group, reported an increase in his deemed interest to 55.66 per cent from 54.55 per cent previously. The deemed interest arises from shares held by Quan Min Holdings, while Dr Ng also maintains a direct interest of 28,900 shares. 

GuocoLand chairman further ups deemed interest

Between Oct 7 and 12, Quek Leng Chan, chairman and non-independent non-executive director of GuocoLand , acquired a deemed interest in an aggregate 737,600 shares through open-market purchases by GuoLine Group Management Company.

The shares were acquired for S$1.64 million, or S$2.23 per share, increasing his deemed interest to 71.94 per cent from 71.87 per cent previously. 

During its FY2026 (ended Jun 30), GuocoLand continued to grow its recurring income base through high occupancies and positive rental reversions in its investment portfolio, while residential projects in Singapore achieved strong take-up rates and contributed more than S$3 billion of unrecognised sales value as at Jun 30.

The group said the combination of recurring investment-property income and development-generated growth capital supports both reinvestment opportunities and sustainable dividends.

Quek previously highlighted that GuocoLand undertook strategic actions during FY2026 to reposition its China and Malaysia businesses, including the privatisation of GuocoLand Malaysia, the reset of its Chongqing development portfolio through a S$207.2 million allowance for foreseeable losses, and the divestment of Thistle Johor Bahru.

He said these actions reflected the group’s systematic approach to maintaining financial strength and managing risk, while preparing for future growth opportunities that would create sustainable value for shareholders.

Aspial Lifestyle chairman continues building stake

Between Oct 9 and 15, Koh Wee Seng, chairman and non-executive director of Aspial Lifestyle , acquired an aggregate 3.13 million shares on-market for S$986,400, at an average price of about S$0.315 per share.

The purchases increased his direct interest to 10.38 per cent from 10.22 per cent previously, while his total interest increased to 76.05 per cent from 75.89 per cent. His deemed interest remained unchanged at 65.67 per cent.

Stamford Land executive chairman continues accumulating shares

Between Oct 7 and 9, Ow Chio Kiat, executive chairman of Stamford Land Corporation , acquired an aggregate 1,239,600 shares on-market at S$0.47 per share, for a total consideration of S$582,612.

The purchases increased his direct interest to 43.22 per cent from 43.14 per cent previously, while his total interest increased from 46.87 to 46.95 per cent. 

Tuan Sing directors’ deemed interests increase above 60%

On Oct 9 and 12, Nuri Holdings acquired one million Tuan Sing Holdings shares on-market for S$272,426. The purchases comprised 517,600 shares at an average price of about S$0.268 per share and 482,400 shares at about S$0.277 per share, increasing Nuri Holdings’ direct interest to 55.01 per cent from 54.97 per cent. 

As a result, William Liem, CEO and executive director, and Michelle Liem, non-executive and non-independent director, each reported an increase in deemed interest to 60.2 per cent from 60.12 per cent. Their deemed interests arise from shares held by Nuri Holdings and Greenpark Investments.

Centurion joint chairmen add shares

On Oct 9, David Loh, executive director and joint chairman of Centurion Corporation , acquired 200,000 shares on-market for S$271,218, increasing his total interest to 48.34 per cent from 48.32 per cent previously.

On Oct 14, Han Seng Juan, non-executive director and joint chairman of Centurion, acquired 75,000 shares on-market for S$98,500, increasing his total interest to 44.43 per cent from 44.42 per cent previously.

Mapletree Logistics Trust independent director establishes unitholding

On Oct 6, Ching Wei Hong, independent non-executive director of Mapletree Logistics Trust Management, acquired 100,000 units of Mapletree Logistics Trust on-market at S$1.09 per unit, for a total consideration of S$109,000. The purchase established a direct interest of 0.002 per cent in the trust. 

Nera executive chairman continues accumulating shares

Between Oct 6 and 13, Steve Chu, executive chairman of Nera Telecommunications , acquired an aggregate 455,900 shares on-market for S$77,960, at an average price of about S$0.171 per share.

The purchases comprised 150,000 shares on Oct 6 at S$0.174 and S$0.175 per share; 113,300 shares on Oct 8 at S$0.170 per share; 27,000 shares on Oct 9 at about S$0.174 per share; 2,000 shares on Oct 12 at S$0.170 per share; and 158,600 shares on Oct 13 at S$0.170 per share. His direct interest increased to 1.327 per cent from 1.201 per cent previously.

Accrelist executive chairman and managing director increases direct interest

On Oct 12, Terence Tea, executive chairman and managing director of Accrelist , acquired 500,000 shares on-market for S$66,525, or about S$0.133 per share.

The purchase increased his direct interest to 28.48 per cent from 28.32 per cent previously, while his total interest increased from 29.68 to 29.84 per cent. His deemed interest remained unchanged at 1.36 per cent, arising from shares held by his spouse, Aileen Sim. 

Huationg Global CEO increases direct interest

On Oct 9, Patrick Ng, executive director and CEO of Huationg Global , acquired an aggregate 63,800 shares on-market for S$31,631, at an average price of about S$0.496 per share.

The purchases increased his direct interest to 7.94 per cent from 7.91 per cent previously, while his total interest increased from 72.78 to 72.81 per cent. His deemed interest remained unchanged at 64.87 per cent, arising from shares held by Dandelion Capital. 

Metrocon chairman raises direct interest

On Oct 8, Alvin Lim, non-executive and non-independent chairman of Metrocon Holdings , acquired 100,000 shares on-market for S$21,000, or S$0.21 per share.

The purchase increased his direct interest to 0.3 per cent from 0.2 per cent previously, while his total interest increased from 64.2 to 64.3 per cent. His deemed interest remained at 64 per cent. 

Subsequently, on Oct 9 and 13, LBD Engineering, Metrocon’s controlling shareholder, acquired an aggregate 246,300 shares on-market for S$50,520, increasing its direct interest to 64.2 per cent from 64 per cent previously. Lim holds a 46.1 per cent interest in LBD Engineering, while his father, Lim Ban Dian, holds the remaining 53.9 per cent interest. 

All-Link CEO adds to direct interest

Between Oct 8 and 14, Peter Neo, executive director and CEO of All-Link Air & Sea , acquired an aggregate 44,300 shares on-market for S$19,932, at an average price of about S$0.45 per share. The purchases increased his direct interest to 0.14 per cent from 0.11 per cent previously.

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