You are here

INSIDE INSIGHTS

More director acquisitions filed for Delong, Hwa Hong, Q&M Dental

FOR the 2018 year through to Nov 1, the Straits Times Index (STI) has generated a 7 per cent decline in total return, amid regional mixed moves that have ranged from a 0.3 per cent decline for the Nikkei 225 Index to a 22.1 per cent decline for China's CSI 300 Index.

For the five trading sessions ended Nov 1, the STI gained 1.6 per cent, in line with regional benchmarks, the Nikkei 225 Index and Hang Seng Index which averaged a 1.5 per cent gain, while the S&P/ASX 200 Index gained 4.6 per cent.

Share buybacks

There were nine stocks/trusts conducting buybacks over the five sessions ended Nov 1, down from 15 stocks for the preceding five sessions.

sentifi.com

Market voices on:

The consideration totalled S$9.3 million, up from S$7.5 million the preceding week.

Keppel Reit Management, Singapore Exchange and Singapore Press Holdings led the tally, and Global Palm Resources Holdings commenced a new mandate.

Director and substantial shareholder transactions

The five sessions spanning Oct 26 to Nov 1 saw 55 primary-listed stocks lodge 140 changes in director interests or substantial shareholdings.

There were 18 company director acquisitions and four disposals filed, while substantial shareholders filed 16 acquisitions and three disposals.

For the same week in 2017, 51 primary-listed stocks filed changes in director interests and/or substantial shareholders' transactions.

On Oct 25, Colonial First State Group's deemed interest in chocolate confectionary company Delfi decreased from 11.17 per cent to 10.05 per cent.

The sale of the securities for client funds saw the substantial shareholder file a disposal of 6,874,000 shares for a consideration of S$7,677,728.

Colonial First State Group is a wholly owned subsidiary of Commonwealth Bank of Australia and its deemed interest in Delfi has approximately doubled since November 2016.

Rich Capital Holdings substantial shareholder Lim Soon Fang reduced his total stake in the stock from 18.01 per cent to 17.86 per cent.

The transaction on Oct 26 saw Mr Lim's deemed interest reduce by 11 million shares for a consideration of S$88,000.

Delong Holdings

On Oct 25, Delong Holdings executive chairman and CEO Ding Liguo acquired 5,130,000 shares of the stock for a consideration of S$35,910,000. At S$7 per share, the married deal took Mr Ding's direct stake in Delong Holdings to 4.66 per cent and total stake in Delong Holdings to 81.48 per cent.

The majority of his stake is a deemed interest via Best Decade Holdings Ltd, which owns 76.82 per cent of the total number of issued shares in Delong Holdings.

Mr Ding is in charge of the overall management and direction of the Delong Group.

Hwa Hong Corporation

Steven Ong Kay Eng continued to increase his total stake in Hwa Hong Corporation (Hwa Hong) with the acquisition of 2.5 million shares on Oct 30.

The transaction had a consideration value of S$762,500, and increased his total stake in Hwa Hong to 14.769 per cent.

Mr Ong has gradually grown his stake in the company from 10.80 per cent on Nov 28, 2016, and 7.38 per cent at the end of 2014.

Also on Oct 30, Mr Ong's son, David Ong Eng Hui, also acquired 2.5 million shares of Hwa Hong, taking his direct stake in the stock to 5.277 per cent.

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 was 52.43 per cent as at Oct 29.

Between Oct 26 and 29, Dr Ng acquired 2,595,400 shares for a consideration of S$1,315,705.

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.

He began 2018 with a 49.88 total per cent stake in Q & M.

Dr Ng 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.

Oxley Holdings

On Oct 25, Oxley Holdings (Oxley) executive chairman and CEO Ching Chiat Kwong acquired 611,700 shares for a consideration of S$183,510. This took his total stake to 41.51 per cent.

At Oxley Holdings, Mr Ching is responsible for the formulation of corporate strategies, charting future growth plans and driving the overall performance of the group.

Apart from his commitments at Oxley, Mr Ching sits on the boards of Galliard (Group) Ltd, Pindan Group Pty Ltd and Aspen (Group) Holdings Ltd.

Between Oct 25 and 26, Oxley deputy CEO & executive director Eric Low See Chin acquired 500,000 shares for a consideration of S$149,000.

This increased his direct stake in the home-grown property developer to 27.76 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.

Sasseur Reit

On Oct 26, Sasseur Cayman Holding II Ltd acquired 180,600 units of Sasseur Reit for a consideration of S$122,808. This took the deemed interest of Sasseur Cayman Holding Ltd (SCHL), the Sponsor of Sasseur Reit to 57.62 per cent.

The acquisition brought the number of Sasseur Reit units acquired by SCHL from Oct 22 through to Oct 26 to 1,339,900.

The manager of Sasseur Reit, Sasseur Asset Management Pte Ltd (the manager), announced that SCHL was purchasing additional units in Sasseur Reit amid the recent volatility in the global stock market.

The manager also reported on Oct 25 that Sasseur Reit had won the Fortune Times Reits Pinnacle Award 2018 as the "Most Promising Reit in Asia".

SCHL is a subsidiary of Sasseur (BVI) Holding II Ltd, a subsidiary of Shimmer Fair Holdings Ltd which is in turn wholly-owned by Xu Rongcan.

Mr Xu is also the chairman and non-executive director of the manager of Sasseur Reit.

Mr Xu founded the Sponsor Group in 1989, and is currently the chairman of the board of SCHL, as well as several entities within the Sponsor Group, where he is responsible for its overall management, including determination of the Sponsor Group's development plans, operating principles and investment programmes.

UOL Group

On Oct 29, UOL Group director Tan Tiong Cheng acquired 5,000 shares of the real estate developer for a consideration of S$30,300. Mr Tan maintains a 0.014 per cent stake in the stock.

Over the last four decades, Mr Tan has amassed an extensive and in-depth knowledge of real estate, both in the public and private sectors.

The veteran property consultant also currently serves as the adviser to Knight Frank Pte Ltd and president of Knight Frank Asia Pacific Pte Ltd, and is the non-executive, lead independent director of Heeton Holdings and an independent and non-executive director of The Straits Trading Company.

Current UOL Group deputy group chief executive Liam Wee Sin will be appointed as the group chief executive with effect from Jan 2, 2019, and current group chief executive of UOL Group Gwee Lian Kheng will remain a director on the board.

UOL Group will be reporting its Q3FY18 financial results on Nov 13.

New Silkroutes Group

On Oct 26, New Silkroutes Group executive director and CEO Goh Jin Hian acquired 5,000 shares of the stock for a consideration of S$1,175.

This took his stake in the group to 3.669 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.

MeGroup

MeGroup, a Malaysia-based automotive dealer and component manufacturer, listed on Catalist on Oct 31.

The group operates automotive dealerships for Honda, Mazda, and Peugeot brands, and also manufactures noise, vibration and harshness (NVH) and non-NVH components such as headliners, engine outers, parcel trays and board assembly decks for automobile brand partners.

For its FY18 the group reported a quarter of its revenue to manufacturing and three quarters of its revenue to dealerships.

The majority of its IPO proceeds go to business expansion, including organic expansion and mergers and acquisitions.

The majority shareholder, with a 51.2 per cent stake in the stock, is JCWW Holdings Pte Ltd (JCWW).

MeGroup executive chairman and CEO Wong Cheong Chee and his spouse jointly own a 70 per cent interest in the shares in JCWW.

Mr Wong has more than 40 years of experience in the manufacturing industry.

Prior to his involvement with the group, he was one of the founders of Paragon Union Berhad, a company listed on Bursa Malaysia. It is in the business of manufacturing and distributing automotive components.

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