Malaysia's EPF increases Riverstone stake to 7%

FOR the five local trading sessions that spanned Nov 27 to Dec 3, the Straits Times Index (STI) declined 1.2 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging 0.2 per cent gains.

This has brought the STI's decline in total return for the 2020 year to Dec 3 to 8.8 per cent.

Over the five sessions, the iEdge S-Reit Leaders Index declined 2.8 per cent, bringing its decline in total return for the 2020 year to Dec 3 to 6.0 per cent.

Share buybacks

There were 16 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$61.0 million, higher than the preceding weeks' S$18.8 million and S$16.8 million.

Wilmar International again led the consideration tally, buying back 11.98 million shares in a price range of S$4.16 to S$4.30 per share.

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As of Dec 3, the current buyback mandate had seen Wilmar International purchase 0.58 per cent of its issued shares (excluding treasury shares) as of the date of the current share buyback resolution.

Director and substantial shareholder transactions

The five trading sessions saw more than 100 changes in director interests and substantial shareholdings, filed for close to 40 primary-listed stocks.

This included 12 company director acquisitions, with four disposals filed, and substantial shareholders filing 14 acquisitions and three disposals.

Riverstone Holdings

On Dec 1, the Employees Provident Fund Board of Malaysia (EPF) increased its substantial shareholding of Riverstone Holdings to above the 7.00 per cent threshold.

This followed on from a filing on Oct 26 that reported the EPF increased its substantial shareholder above the 6.00 per cent threshold, after the EPF became a substantial shareholder of Riverstone Holdings on Sept 17.

In crossing the 7.00 per cent threshold, the one million shares, bought at a price of S$1.32 per share, took EPF's total interest in Riverstone Holdings to 7.02 per cent.

Between Dec 1 and 2, Riverstone Holdings executive chairman and CEO Wong Teek Son acquired 100,000 shares of the company for a consideration of S$132,000.

At an average price of S$1.32 per share, the acquisitions increased his total interest in Riverstone Holdings from 51.13 per cent to 51.14 per cent.

He is the founder of Riverstone and was appointed to the board as executive chairman in August 2005.

Mr Wong's executive responsibilities include developing business strategies as well as overseeing the group's operations.

His preceding acquisitions were made between Nov 20 and 24, with 200,000 shares acquired at S$1.35 per share.

Riverstone Holdings has been among Singapore's most traded 40 stocks in the 2020 year to date with average daily turnover close to S$10 million a day.

The company noted back on Nov 9 that phase 6 of the group's expansion plans is on track to raise total production capacity by 1.5 billion pieces to 10.5 billion pieces of gloves annually by the end of 2020.

For phase 6, the group noted that it had commissioned five production lines that are currently in operation, with the remaining two production lines to be progressively commissioned over the next two months.

Furthermore, due to the strong demand for both healthcare and cleanroom gloves, the group's current order book has been filled to the first half of 2021.

UOB-Kay Hian Holdings

Between Nov 26 and Dec 1, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee-Chao acquired 105,500 shares of the company at S$1.40 per share.

This increased his total interest in UOBKH from 30.76 per cent to 30.77 per cent.

Mr Wee's total interest in UOBKH has gradually increased from 29.49 per cent at the end of 2019, and increased from 27.98 per cent at the end of 2018.

PropNex

On Dec 2, PropNex executive director Kelvin Fong Keng Seong acquired 167,500 shares of the company, for a consideration of S$121,438, at 72.5 cents per share.

This took his total interest in PropNex from 8.26 per cent to 8.30 per cent.

His preceding acquisitions were on Oct 22 with 112,800 shares bought at 63.10 cents per share; Oct 8, with 300,000 shares acquired at 60.00 cents per share; and between July 23 and 24, with 322,800 shares acquired at 52.90 cents per share.

Mr Fong oversees the group's training development curriculum, and administers the development of IT strategies and technology innovations to improve the group's competitive edge in the industry.

Jumbo Group

On Nov 30, Kuang Ming Investments Pte Ltd increased its direct interest in Jumbo Group to above the substantial shareholder threshold from 4.99 per cent to 5.01 per cent.

The 124,000 shares were acquired for a consideration of S$40,300 at 32.50 cents per share.

JEP Holdings

Between Dec 1 and 3, JEP Holdings executive director Zee Hoong Huay acquired 193,800 shares of the company for a consideration of S$38,085 at an average price of 19.65 cents per share.

This increased his total interest in JEP Holdings from 15.68 per cent to 15.73 per cent.

This followed his acquiring 100,000 shares at 20 cents per share on Nov 24.

Mr Zee is a veteran in the metal tooling and precision engineering industries.

JEP Holdings is a leading solutions provider of precision machining and engineering services, with a primary focus on the aerospace industry with over 30 years of operating history.

Uni-Asia Group

On Dec 2, Uni-Asia Group CEO Kenji Fukuyado acquired 50,000 shares of the company for a consideration of S$31,645.

At an average price of 63.29 cents per share, this took his total interest in Uni-Asia Group from 1.65 per cent to 1.72 per cent.

Mr Fukuyado was appointed Uni-Asia Group CEO on April 30.

Roxy-Pacific Holdings

Between Nov 27 and 30, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 30,000 shares of the company for a consideration of S$10,550, at an average price of 35.17 cents per share.

Mr Tan's total interest in the established property and hospitality group is 0.87 per cent.

The independent director has gradually increased his total interest in the company from 0.71 per cent on 29 March.

Mr Tan is also executive chairman of Serrano and non-executive director of Plastoform Holdings.

Hwa Hong Corporation

On Dec 1, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui acquired 23,000 shares of the company for a consideration of S$6,291 at an average price of 27.35 cents per share.

A series of acquisitions has seen Dr Ong gradually increase his total interest in Hwa Hong from 5.32 per cent at the end of 2018, to 6.31 per cent as of Dec 1.

The acquisitions also increased the deemed and hence total Hwa Hong interest of Dr Ong's father, Steven Ong Kay Eng, whose total interest stands at 16.19 per cent.

Credit Bureau Asia

One of South-east Asia's leading credit and risk information solutions provider Credit Bureau Asia (CBA), listed on the SGX Mainboard on Thursday.

As one of the largest provider of credit bureau services in Singapore, Cambodia and Myanmar, CBA garnered strong support from institutional and retail investors.

Together, four cornerstone investors collectively held 28 million shares or 12.2 per cent of the total issued shares.

The cornerstone investors included Aberdeen Standard Investments (Asia) Ltd, Affin Hwang Asset Management Berhad, Eastspring Investments (Singapore) Ltd and Tokyo Shoko Research Ltd.

The public offer of 1.5 million shares was 60.8 times oversubscribed. The counter traded close to S$9 million in value on the first day of trading.

CBA founder, executive chairman and chief executive officer Kevin Koo remained as the sole controlling shareholder with approximately 67.3 per cent stake in the group.

Mr Koo has more than 25 years of experience in the credit and risk information industry and was instrumental in the success and expansion of CBA during the past two decades.

CBA operates two main business segments.

The first segment is its financial institution data business, which provides subscribing members, mainly banks and financial institutions, with access to credit information on individual consumers and/or registered business entities.

The second segment is the non-financial institution data business, which provides customers with a wide range of business information and risk management services, sales and marketing solutions, commercial insights and other services.

The group's combined revenues grew at a two-year compound annual growth rate of 6.7 per cent and combined earnings before interest, taxes, depreciation and amortisation margins ranged from 43.8 per cent to 63.4 per cent, between its FY17 and H1FY20.

While CBA does not have a fixed dividend policy, the board intends to recommend dividends of at least 90 per cent of the group's net profit after tax attributable to shareholders for FY21 and FY22.