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INSIDE INSIGHTS

Q & M founder continues adding to his stake

FOR the four trading sessions from May 17 through to 23, the STI declined by 2.2 per cent while the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaged a 0.5 per cent gain. The CSI 300 declined 4.1 per cent over the week. This has brought the STI's 2019 total return through to May 23 to 5.2 per cent.

Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the four sessions ended May 23, with a total consideration of S$48.4 million, near double the preceding five sessions' S$24.9 million. DBS Group Holdings, OCBC and Singapore Technologies Engineering led the buyback tally.

Director and substantial shareholder transactions

The four sessions spanning May 17 to 23 saw more than 100 changes in director interests or substantial shareholdings filed for 45 primary-listed stocks.

There were 28 company director acquisitions and three disposals filed, with substantial shareholders filing 14 acquisitions and five disposals.

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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 is now 54.56 per cent. Between May 16 and 22, Dr Ng acquired 4,459,300 shares for a consideration of S$2,179,580. 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.

Dr Ng began 2018 with a 49.88 per cent total stake in Q & M and 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.

Sheng Siong Group

On May 16, Mondrian Investment Partners Ltd (Mondrian) acquired 1,991,000 shares of Sheng Siong Group (Sheng Siong) for a consideration of S$2,108,469.

This took its deemed substantial shareholding in Sheng Siong, which is one of Singapore's largest supermarket chains, from 5.981 per cent to 6.113 per cent.

This acquisition came almost one year to the day after Mondrian acquired 99 million ordinary shares in the company, representing approximately 6.58 per cent of the issued and paid-up share capital of Sheng Siong, from its executive directors, Lim Hock Eng, Lim Hock Chee and Lim Hock Leng for a consideration of S$99,990,000 via a married deal.

Note that on Feb 28, Mondrian's substantial shareholding in Sheng Siong fell below the 6 per cent threshold on a disposal of 187,200 shares due to a transfer out of shares from a discretionary holding.

Founded in 1990, Mondrian is a well-known global investment fund manager with offices in London and Philadelphia.

With more than 25 years of experience in the industry, Mondrian has adopted a value-oriented, defensive investment approach. Mondrian has more than 150 employees and is managing approximately US$50 billion in assets.

Last month, Sheng Siong reported its Q1 FY19 (ended March 31) net profit grew 6 per cent year on year to S$19.4 million. Principally engaged in operating the Sheng Siong groceries chain, consisting of 54 outlets all across the island, the group's outlets are primarily located in retail locations in the heartlands of Singapore.

KLW Holdings

On May 15, Lee Han Peng acquired 522,092,500 shares of KLW Holdings for a consideration of S$2,088,370. The married deal took Lee Hang Peng's direct interest in KLW Holdings from 1.79 per cent to 11.49 per cent. This was pursuant to an agreement on May 2, 2019 between Sunny Wealth Ltd (the seller) and Lee Han Peng (the buyer).

Sunny Wealth reduced its deemed interest in KLW Holdings from 19.41 per cent to 9.7 per cent. Wong Ben Koon is the sole shareholder of Sunny Wealth Ltd.

UOB-Kay Hian Holdings

Between May 16 and 22, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH, which is now at 28.35 per cent.

Mr Wee acquired 472,000 UOBKH shares for a consideration of S$562,457. The UOBKH chairman has gradually increased his total stake in UOBKH from 26.51 per cent at the end of 2017.

Tai Sin Electric

On May 17, Tai Sin Electric (Tai Sin) executive director and CEO Bernard Lim Boon Hock acquired 997,548 shares of the listed company for a consideration of S$324,203. This took his total interest in Tai Sin from 13.799 per cent to 14.024 per cent. Mr Lim has been an executive director of Tai Sin since September 1997.

Tai Sin was established as a cable manufacturing business in 1980. After over 38 years of strategic expansion and diversification, the group's business is streamlined into four business segments: namely cable & wire, electrical material distribution, switchboard and test & inspection.

UMS Holdings

On May 16, UMS Holdings chairman and CEO Andy Luong acquired 250,000 shares of the precision engineering group for a consideration of S$156,250. This took Mr Luong's total interest in the listed company from 20.580 per cent to 20.623 per cent.

As president and founder of the UMS Group, Mr Luong has more than 20 years of experience in manufacturing front-end semiconductor components.

Hong Fok Corporation

On May 22, Hong Fok Corporation executive director and joint CEO Cheong Sim Eng acquired 70,000 shares of the listed company for a consideration of S$55,650. This took his total interest in Hong Fok Corporation to 19.447 per cent.

Mr Cheong has gradually increased his total interest in the property developer from 19.056 per cent at the end of 2018.

He is is principally involved in the group's overall operations and management with greater emphasis in Singapore and has over 34 years of experience in the property development business.

Sin Ghee Huat Corporation

On May 21, Sin Ghee Huat Corporation market development director Kua Peng Chuan acquired 232,000 shares of the listed company for a consideration of S$52,200. This increased Mr Kua's direct interest in Sin Ghee Huat Corporation from 5.02 per cent to 5.13 per cent.

Mr Kua was appointed a director of the stainless steel specialist in October 2017 and manages sales operations and market development.

Uni-Asia Group

On May 21, Uni-Asia Group executive director, Kenji Fukuyado acquired 17,000 shares of the listed company for a consideration of S$19,550. This took his stake in the stock from 0.86 per cent to 0.89 per cent.

Mr Fukuyado was appointed an executive director of the company on March 1, 2018 and 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.

Uni-Asia Group is an alternative investment company with its targets mainly cargo ships and properties.

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