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INSIDE INSIGHTS

Pace of director filings and buybacks drops as earnings season kicks off

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Mr Chua was appointed the chairman and CEO of Ho Bee Group in 1999 and is responsible for its strategic planning and direction, as well as its financial and investment decisions.

FOR the five trading sessions spanning Oct 4 to 10, the Straits Times Index (STI) gained 0.1 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 0.5 per cent gain. This has brought the STI's 2019 total return through to Oct 10, to 4.3 per cent.

Share buybacks

There were 14 primary-listed stocks conducting share buybacks over the five sessions ended Oct 10, with a total consideration of S$3.6 million, less than half the S$8.0 million consideration for the preceding five sessions as the earnings season kicks off.

Yangzijiang Shipbuilding (Holdings), Stamford Land Corporation and GRP Corporation led the buyback consideration tally. Singapore Medical Group commenced a new buyback mandate, buying back 139,000 shares between S$0.300 and S$0.305 per share.

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Director and substantial shareholder transactions

The five sessions spanning Oct 4 to 10 saw close to 120 changes in director interests or substantial shareholdings filed for 35 primary-listed stocks.

There were 23 company director acquisitions and two disposals filed, with substantial shareholders filing 11 acquisitions and five disposals.

AIMS Apac Reit

Between Oct 7 and 10, MacarthurCook Office Property Trust (OPT) acquired 83,500 units of AIMS Apac Reit (AA Reit).

AIMS Real Estate Funds Ltd (AIMSRE) is a wholly owned subsidiary of the AIMS Financial Group and the responsible entity of OPT.

As AIMS Apac Reit Management Ltd's chairman, George Wang, his associated company and Trust are the ultimate 100 per cent owner of AIMSRE. His total interest in AA Reit increased from 18.00 per cent to 18.01 per cent.

Mr Wang is the founding executive chairman of AIMS Financial Group and an active participant in both the Australian and Chinese financial services industries.

Ho Bee Land

On Oct 7, Ho Bee Holdings Pte Ltd acquired 100,700 shares of Ho Bee Land for a consideration of S$231,109 at an average price of S$2.295 per share.

This took its direct stake in the company, in addition to the deemed interest of Chua Thian Poh, the founder of Ho Bee Group, to 75.0612 per cent.

Prior to this, Ho Bee Holdings Pte Ltd acquired 85,700 shares at S$2.28 per share between Sept 20 and 24. Mr Chua was appointed the chairman and CEO of the group in 1999 and is responsible for its strategic planning and direction, as well as its financial and investment decisions.

Moneymax Financial Services

On Oct 3, Money Farm Pte Ltd increased its direct interest in Catalist-listed Moneymax Financial Services (Moneymax) through the acquisition of 1,250,000 shares via a married deal.

The transaction had an aggregate consideration of S$200,000 at a price of S$0.16 per share, and took Money Farm's direct stake in the large pawn broking chain from 62.00 per cent to 62.30 per cent.

Its preceding acquisition of Moneymax shares was on July 10, with 1,547,000 shares acquired, also at S$0.16 per share.

Moneymax executive chairman, CEO and co-founder Lim Yong Guan and his associates are entitled to exercise all the votes attached to the voting shares in Money Farm Pte Ltd.

The Oct 3 married deal increased his total stake in Moneymax from 74.9 per cent to 75.2 per cent.

Mr Lim is responsible for the overall management, operations, strategic planning, and business development of the group.

He is also responsible for driving the operational efficiency of the group's work processes, monitoring the development and performance of its business, and identifying new opportunities for expansion.

Moneymax non-executive director and co-founder Lim Yong Sheng's total stake in the stock was also increased from 72.8 per cent to 73.1 per cent.

Lim Liang Eng, a former executive director of Moneymax, saw her total interest in Moneymax increase from 63.2 per cent to 63.5 per cent.

SK Jewellery Group

Moneymax's Lim Yong Guan also presently holds the position of non-executive chairman of SK Jewellery Group, which is also listed on the Catalist board.

Likewise, Moneymax's Mr Lim Yong Sheng serves as the executive director and group CEO of SK Jewellery and Moneymax's former executive director, Lim Liang Eng currently serves as the executive director and COO of SK Jewellery.

The three directors are entitled to exercise all the votes attached to the voting shares in Soo Kee Capital Pte Ltd.

Between Oct 3 and 9, Soo Kee Capital Pte Ltd acquired 2,799,900 shares in SK Jewellery Group for consideration of S$349,618, at S$0.125 per share.

The acquisitions increased the non-executive chairman's total interest in SK Jewellery Group from 70.6 per cent to 71.1 per cent, while Mr Lim Yong Sheng's total interest increased from 68.6 per cent to 69.1 per cent and Mdm Lim Liang Eng's total interest increased from 59.6 per cent to 60.1 per cent.

Bonvests Holdings

On Oct 3, Bonvests Holdings chairman and managing director Henry Ngo acquired 80,000 shares for a consideration of S$96,800, at an average price of S$1.21 per share.

This increased Mr Ngo's total interest in Bonvests Holdings from 83.10 per cent to 83.12 per cent.

His preceding acquisition was between Sept 9 and 11, acquiring 129,100 at an average price of S$1.239 per share.

Mr Ngo is the founder of Bonvests Holdings and is responsible for mapping out the corporate and growth strategy of the group.

UOB-Kay Hian Holdings

Between Oct 4 and 8, UOB-Kay Hian Holdings (UOBKH) chairman and managing director, Wee Ee Chao increased his total stake in UOBKH, which is now at 29.41 per cent.

Mr Wee acquired 54,900 shares for a consideration of S$65,880 at S$1.20 per share.

The UOBKH chairman has gradually increased his total stake in UOBKH from 26.51 per cent at the end of 2017.

Pan Hong

Pan Hong executive chairman Wong Lam Ping acquired 158,300 shares for a consideration of S$18,006 at an average price of S$0.1137 per share.

This took his total interest in Pan Hong from 64.08 per cent to 64.11 per cent.

Mr Wong has over 20 years of property development experience since he established Pan Hong Co Ltd in 1983 and is presently responsible for the formulation and execution of overall business strategies and policies as well as the overall management of the group.

Medinex

On Oct 8, Medinex executive director and CEO Jessie Low Mui Choo acquired 59,000 shares of the Catalist-listed company for a consideration of S$14,800 at S$0.25 per share.

This took Ms Low's total interest in the Singapore-based integrated medical services provider from 20.94 per cent to 20.98 per cent.

Ms Low is responsible for the overall management, strategic planning and business development of the group.

Medical services group and Catalist-listed HC Surgical Specialists is a substantial shareholder of Medinex, with a direct interest of 22.92 per cent and deemed interest of 9.50 per cent as of March 18, 2019.

Imperium Crown

On Oct 10, Imperium Crown acting CEO Tan Keng Keat acquired 501,000 shares of the listed company for a consideration of S$7,014.

This took his total interest in Imperium Crown from 0.42 per cent to 0.49 per cent.

Mr Tan was appointed the acting chief executive officer on Jan 24, 2018 and is also the company CFO.

His key responsibilities include assisting the board of directors in the group's capital management strategy, overseeing the group's accounting and financial reporting functions, compliance with listing requirements and the group's administrative matters.

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