Pace of director transactions continues to moderate

FOR the four trading sessions spanning April 13 to 16, the Straits Times Index (STI) gained 1.6 per cent with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 0.6 per cent gain. This has brought the STI's decline in total return for 2020 through to April 16 to 18.5 per cent.

Share buybacks

There were 11 primary-listed stocks conducting share buybacks over the four sessions ended April 16 with a total consideration of S$2.3 million, significantly less than the S$17.2 million for the preceding week.

Silverlake Axis led the consideration tally, buying back 1,863,800 shares for a total consideration of S$500,957 at an average price of S$0.27 per share. The current buyback mandate of Silverlake Axis has seen the listed company buy back 54,866,900 shares through to April 16, which represents 2.07 per cent of its issued shares as of the date of the buyback resolution on Oct 24, 2019.

Director and substantial shareholder transactions

The four trading sessions spanning April 13 to 16, saw approximately 60 changes in director interests and substantial shareholdings, filed for 33 primary-listed stocks.

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This included 13 company director acquisitions, with three disposals filed, and substantial shareholders filing 12 acquisitions with three disposals.

Filings have declined significantly this past week, as the STI continued a partial recovery from losses through to March 23, with earnings season soon to recommence in earnest.

Delfi

On April 10, Aerodrome International Ltd acquired 1,425,000 shares of Delfi for a consideration of S$983,250. Transacted at 69 cents per share, the married deal increased Aerodrome International's total interest in Delfi from 51.24 per cent to 51.47 per cent. The acquisition also increased the deemed interest of Delfi Group CEO Chuang Tiong Choon from 51.63 per cent to 51.87 per cent.

He has over 30 years of experience in the chocolate, confectionery and cocoa industries, and he constantly visits the operations around the globe that make up Petra Foods, coordinating the actions and activities that deliver the listed company's growth.

Sasseur Reit

On April 15, Sasseur Asset Management Pte Ltd non-executive and non-independent director Yang Xue acquired 700,000 units of Sasseur Reit at 70 cents per unit. This increased the total direct and deemed interest of Ms Yang and Mr Xu Rongcan, the spouse of Ms Yang and non-executive and non-independent chairman of Sasseur Asset Management Pte Ltd, in Sasseur Reit from 58.15 per cent to 58.20 per cent.

Ms Yang co-founded Sasseur (Shanghai) Holding Company Ltd, a property development and construction company which provides enterprise management to nine malls in eight municipalities and provincial capitals in China, in December 2005.

Riverstone Holdings

Between April 9 and 15, Riverstone Holdings founder, executive chairman & CEO Wong Teek Son acquired 240,000 shares of the listed company for a consideration of S$274,121.

At an average price of S$1.14 per share, this increased his total interest in the Malaysian-based leading cleanroom gloves manufacturer from 51.99 per cent to 51.02 per cent.

Mr Wong's executive responsibilities include developing business strategies and overseeing the group's operations. He has also been instrumental in expanding the group's customer base and cementing business relationships with its international customers.

AnnAik

On April 14, AnnAik executive chairman cum CEO Ow Chin Seng acquired 1,785,500 shares of the manufacturer and distributor of stainless steel products for a consideration of S$113,397.

At an average price of 6.35 cents per share, this took his direct interest in AnnAik from 37.19 per cent to 37.81 per cent.

Mr Ow is primarily responsible for the business and strategic development of the group. With over 40 years of experience in the hardware and steel industry, he has been instrumental in the strategic direction and development of the group.

Q & M Dental Group (S'pore)

On April 9, Q & M Dental Group (Singapore) founder and group CEO Ng Chin Siau acquired 300,000 shares of the listed company for a consideration of S$111,000. At an average price of 37 cents per share, the acquisition increased Dr Ng's total interest in Q & M from 58.51 per cent to 58.55 per cent.

Dr Ng is responsible for the corporate direction of the group. He leads the group in all aspects of its business strategies, policy planning and business development in Singapore, Malaysia and China.

UOB-Kay Hian Holdings

UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH between April 9 and 13, which is now at 29.92 per cent. Mr Wee acquired 84,400 UOBKH shares for a consideration of S$99,592 at S$1.18 per share.

Mr Wee has been closely involved in the management and growth of UOBKH for more than 30 years. He also serves on the board of Haw Par Corporation and UOL Group as a non-executive director, and is also a director of Kheng Leong Co Pte Ltd, and Wee Investment Group.

JEP Holdings

On April 15, JEP Holdings executive director Zee Hoong Huay acquired 250,000 shares of the Catalist-listed company for a consideration of S$41,250.

At an average price of 16.5 cents per share, the acquisition increased his total interest in JEP Holdings from 15.22 per cent to 15.28 per cent.

His preceding acquisition was on April 2, with 390,000 shares acquired at 14.9 cents per share.

Mr Zee is a veteran in the metal tooling and precision engineering industries with over 30 years of industrial experience and capabilities.

Uni-Asia Group

On April 15, Uni-Asia Group executive director, Kenji Fukuyado acquired 30,000 shares of the listed company for a consideration of S$15,150. At an average price of 50.5 cents per share, this took his total interest in Uni-Asia Group from 1.13 per cent to 1.17 per cent.

Mr Fukuyado has over 30 years of experience in the finance industry, including structured finance such as tax lease, asset finance, loan syndication, corporate finance and asset management.

Teckwah Industrial Corp

On April 9, Quarz Capital Asia (Singapore) Pte Ltd increased their deemed substantial shareholding in Teckwah Industrial Corporation above the 6 per cent threshold.

The acquisition of 20,500 shares for a consideration of S$8,507, was transacted at an average price of 41.5 cents per share.

Quarz Capital Asia's deemed interests in Teckwah Industrial Corporation are through its capacity as investment adviser and fund manager of various funds and accounts.

Hwa Hong Corporation

On April 9, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui acquired 25,000 shares of the listed company for a consideration of S$6,875 at an average price of S$0.275 per share.

Dr Ong has gradually increased his total interest in Hwa Hong from 5.32 per cent at the end of 2018, to 6.18 per cent as at April 9. The acquisition also increased the deemed and hence total Hwa Hong interest of Dr Ong's father, Steven Ong Kay Eng, to 16.06 per cent.

Roxy-Pacific Holdings

On April 13, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 19,000 shares of the listed company for a consideration of S$6,270.

At an average price of 33.0 cents per share, the transaction followed his acquisition of 150,000 shares at an average price of 32.6 cents per share on April 7.

Mr Tan maintains a 0.73 per cent interest in Roxy-Pacific Holdings. He is also the executive chairman of Serrano and non-executive director of Plastoform Holdings.

He is also the founder and managing director of Winmark Investments Pte Ltd and Corporate Brokers International Pte Ltd, which are involved in angel and private equity investments with high growth needs.