Medtecs CEO ups stake; Venture continues buybacks

FOR the five trading sessions that spanned June 18 to 24, the Straits Times Index (STI) ended 0.6 per cent lower with the FTSE China A50 Index, Hang Seng Index and FTSE Bursa Malaysia KLCI averaging a 0.2 per cent decline.

Within the STI, Jardine Matheson Holdings, Ascendas Reit, ST Engineering, Mapletree Logistics Trust and Mapletree Commercial Trust received the highest net institutional inflows from June 18 to 24.

Outside the STI, Nanofilm Technologies International, Keppel Reit, AEM Holdings, Golden-Agri Resources and Cromwell European Reit received the highest net institutional inflows over the five sessions.

Overall, institutions were net sellers over the five sessions, to the amount of S$332 million, led by OCBC which saw S$127 million in net institutional outflow.

Share buybacks

There were eight primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$4,553,547.

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Venture Corporation led the consideration tally, buying 90,200 shares at an average price of S$18.43 per share. Between June 11 and 24, Venture Corporation bought back 122,000 shares, representing 0.04 per cent of its issued shares, excluding treasury shares.

Previously, the leading global provider of technology services, products and solutions, had last bought back its shares on July 12, 2019, at S$14.89 per share.

Director and substantial shareholder transactions

The five trading sessions saw 90 changes in director interests and substantial shareholdings filed for fewer than 40 primary-listed stocks.

This included 10 company director acquisitions with two disposals filed, while substantial shareholders filed eight acquisitions and 10 disposals.

Pan Asian Holdings

On June 21, Pan Asian Holdings controlling substantial shareholder, Xu Jia Zu Holdings completed the sale of 56 million shares of the Catalist-listed company to businessman Sylvester Lim Wei Zhi.

The 56 million shares represented 26.14 per cent of the existing issued share capital of the company, purchased by Mr Lim at 5.36 cents per share for a consideration of S$3 million via a married deal.

The transaction reduced Xu Jia Zu Holdings' total interest in Pan Asian Holdings from 77.09 per cent to 50.95 per cent.

Pan Asian Holdings executive chairman Richard Koh Chye Heng maintains deemed interests in Xu Jia Zu Holdings, as does the former executive director and managing director cum chief executive officer Eddie Koh.

Appointed as the executive chairman since March 2009, Mr Richard Koh is responsible for the overall management of the group's operations, as well as the formulating and implementing the group's business strategies.

Mr Richard Koh was also the founder and managing director of the company from 1980 to 1991, in addition to being chairman from 1991 to 2004.

Pan Asia Holdings is a leading supplier of high quality pipe system and equipment for water infrastructure projects the in Asia-Pacific region.

Impacted by the global outbreak of Covid-19, the group managed to reverse its loss before tax of S$1.5 million for H1FY20 (ended June 30) to a profit before tax position of S$0.1 million for FY20.

Medtecs International Corporation

On June 24, Medtecs International Corporation deputy chairman, executive director and chief executive officer William Yang Weiyuan acquired 500,000 shares of the Catalist-listed company for a consideration of S$420,272 at an average price of 84.1 cents per share.

This took his deemed interest in the supplier and distributor of personal protective equipment and provider of logistics services to healthcare institutions, from 0.36 per cent to 0.46 per cent.

Mr Yang's preceding acquisitions were 500,000 shares at 95.8 cents per share on May 12, and 500,000 shares at S$1.05 per share on Dec 22.

Mr Yang has been the general manager of wholly owned subsidiaries, Medtecs (Taiwan) Corporation since July 1, 2010 and Hangzhou Jincheng Medical Supplies and Manufacture since 2008.

Uni-Asia Group

On June 16, Uni-Asia Group substantial shareholder Ham Yong Kwan increased his direct interest in the company from 7.88 per cent to 8.36 per cent.

He acquired 378,100 shares for a consideration of S$312,575 at an average price of 82.7 cents per share.

Mr Ham has gradually increased his interest in Uni-Asia Group from 2.20 per cent in March 2020, with his direct interest reported to cross over the 5.00 per cent substantial shareholding threshold in a filing on Jan 27.

Yamasa Co Ltd is the controlling shareholder of Uni-Asia Group, with a 30.00 per cent deemed interest as of April 15.

PropNex

On June 21, PropNex executive director Kelvin Fong Keng Seong acquired 118,400 shares of the company, for a consideration of S$177,416 at an average price of S$1.50 per share.

This took his deemed interest in PropNex from 8.45 per cent to 8.48 per cent.

Mr Fong has gradually increased his deemed interest in PropNex from 7.63 per cent in February 2019.

He 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.

Mr Fong also spearheads the sales and leadership training programmes for the group.

Back on May 19, PropNex announced that it was expanding to Cambodia, and boosting the total regional salespersons headcount to 12,000.

Mewah International

A stock exchange filing on June 23 detailed that Ankar Pacific Assets' substantial shareholding in Mewah International crossed above the 6 per cent threshold, from 5.99 per cent to 6.01 per cent.

The relevant transaction involved 270,000 shares at an average price of 45.4 cents per share.

A filing back on Sept 4, 2020 declared that Ankar Pacific Assets had become a substantial shareholder of Mewah International with 15 million shares at 32.0 cents per share, acquired via a married deal.

The integrated agri-business focused on edible oils and fats reported a net profit of US$86.5 million in its FY20 (ended March 31) which was among its historical best performances.

Serial System

Between June 21 and 24, Serial System executive chairman & group chief executive officer Derek Goh Bak Heng acquired 970,000 shares of the company for a consideration of S$131,608 at an average price of 13.6 cents per share.

This increased his total interest in Serial System from 40.60 per cent to 40.70 per cent.

With multiple acquisitions filed in June, he began the month with his total interest in Serial System at 40.47 per cent.

On June 7, he noted that Serial System had an encouraging start to 2021 after a challenging 2020.

He stated that amid the continued global chip shortage, more companies were seeking a reliable distributor with a strong base of suppliers and track record.

EnGro Corporation

On June 17, EnGro Corporation chairman and chief executive officer Tan Cheng Gay acquired 65,500 shares of the company for a consideration of S$93,665.

At S$1.43 per share, this increased his total interest in the leading provider of superior building materials from 14.53 per cent to 14.59 per cent.

Mr Tan is a stalwart of the company, having been with EnGro Corporation since its inception, appointed as director in 1973 and has since served as the executive director to steer the strategic direction and vision of the group.

IReit Global

On June 23, IReit Global Group non-executive director Sanjay Bakliwal acquired 85,400 units of IReit Global for a consideration of S$55,937.

At 65.5 cents per unit, this increased his direct interest in IReit Global to 0.01 per cent.

Mr Bakliwal is the chief investment officer with AT Capital and a director across AT Group companies in energy, real estate and financial services sectors.

IReit Global's current portfolio consists of five freehold office properties in Germany and four freehold office properties in Spain, independently valued at approximately 720 million euros on Dec 31.

The Reit maintains a 95.9 per cent occupancy and a 3.4 years weighted average lese expiry.

Subject to unitholder approval, IReit Global Group expects to complete the acquisition of a portfolio of 27 retail properties located across France by Q3 2021.

Post-acquisition, the manager expects the portfolio to be valued at approximately 834 million euros.

Hotel Grand Central

Between June 16 and 17, Hotel Grand Central non-independent non-executive director Tan Eng How acquired 70,100 shares for a consideration of S$74,683 at an average price of S$1.07 per share.

Mr Tan maintains a 58.50 per cent total interest in Hotel Grand Central.

He has been with the group since the inception of the company and is a non-executive director of Grand Central Enterprises Bhd.

Amara Holdings

Between June 22 and 23, Amara Holdings non-executive independent director Tan Tiong Cheng acquired 92,900 shares of the company for a consideration of S$33,451 at 36.0 cents per share.

This brought his direct interest in Amara Holdings to 0.02 per cent.

Mr Tan joined the board of Amara Holdings in June 2018.

He was the senior adviser to Knight Frank Pte Ltd until March 31, 2020, president of Knight Frank Asia Pacific until March 31, 2019, and was the executive chairman of Knight Frank Pte Ltd's Group of Companies until March 31, 2017.

In addition, Mr Tan also sits on the boards of the Straits Trading Company, UOL Group and Heeton Holdings as independent and non-executive director.

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