Riverstone chairman and incoming Heeton chair boost their stakes

GEOFF HOWIE

FOR the 5 trading sessions that spanned Dec 10 to 16, the Straits Times Index (STI) declined 0.4 per cent, with the FTSE China A50 Index declining 0.9 per cent, the Hang Seng Index declining 3.4 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.

Within the STI, DBS Group Holdings D05 , UOB U11 , CapitaLand Investment 9CI , Jardine Matheson Holdings J36 and OCBC O39 received the highest net institutional inflows during the 5 sessions.

Outside the STI, AEM Holdings AWX , Geo Energy Resources RE4 , Riverstone Holdings AP4 , CapitaLand China Trust AU8U and Sheng Siong Group OV8 received the highest net institutional inflows for the same period.

Overall, institutions were net sellers, with S$63 million of net outflow.

Ascendas Reit A17U , CapitaLand Integrated Commercial Trust C38U , Singapore Airlines C6L , Singapore Telecommunications Z74 and ComfortDelGro Corporation C52 saw the highest net institutional outflows.

Share buybacks

There were 19 primary-listed stocks conducting share buybacks over the 5 sessions with a total consideration of S$22.6 million, down from the S$61.0 million for the preceding 5 sessions.

OCBC led the consideration tally, paying an average price of S$11.34 per share.

Secondary-listings Hongkong Land and Jardine Matheson Holdings also bought back shares during the period.

The Hour Glass AGS led the buyback consideration tally for non-STI stocks over the 5 sessions, paying an average price of S$2.00 per share.

Director and substantial shareholder transactions

The 5 trading sessions saw 120 changes in director interests and substantial shareholdings filed for close to 50 primary-listed stocks.

This included 22 company director acquisitions with 3 disposals filed, while substantial shareholders filed 16 acquisitions and 3 disposals.

Riverstone Holdings

Between Dec 10 and 16, Riverstone Holdings founder, executive chairman and chief executive officer Wong Teek Son acquired 1.5 million shares of the company for a consideration of S$973,150.

At an average price of 64.9 cents per share, this increased his total interest in the Malaysian-based leading cleanroom gloves manufacturer from 51.16 per cent to 51.26 per cent. His preceding acquisition was on Dec 31, 2020, with 50,000 shares acquired at S$1.11 per share. 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.

On Nov 9, Riverstone Holdings noted that demand for the group's healthcare examination gloves had continued to grow despite the pandemic moving into the endemic phase in many parts of the world.

It added that market prices however had begun to normalise progressively in the third quarter 2021 as major distributors had taken a wait-and-see approach for glove prices to stabilise.

Heeton Holdings

Between Dec 13 and 14, Heeton Holdings 5DP deputy chairman and executive director Toh Giap Eng acquired 1,375,000 shares of the real estate conglomerate for a consideration of S$427,164.

At an average price of 31.1 cents per share, this took Toh's total interest in Heeton Holdings from 40.62 per cent to 40.90 per cent.

His preceding acquisitions were on Jun 11, 2020, with 500,000 shares acquired at 21.0 cents per share, and Mar 17, 2020, with 1 million shares acquired at 24.0 cents per share. Toh will be appointed as chairman of the board with effect from Jan 1, 2022.

Formerly CEO of the group, Toh was appointed as executive deputy chairman of the group in January 2016.

His responsibilities as deputy chairman have included identifying and securing investment and development properties in new markets, exploring, and developing related or new businesses as well as assisting the chairman in the overall stewardship and governance of the group.

Fortress Minerals

Between Dec 9 and 10, Fortress Minerals OAJ non-executive and non-independent director Teh Lip Kim acquired 500,000 shares of the Catalist-listed company at an average price of 40.6 cents per share.

With a consideration of S$203,000 this increased Teh's direct interest in the explorer, miner, producer, and seller of iron ore concentrate from 0.20 per cent to 0.30 per cent.

This followed her acquisition of 300,000 shares at an average price of 38.5 cents per share on Dec 7, and 300,000 shares at an average price of 38.0 cents per share between Nov 30 and Dec 1.

Teh also maintains a 33.29 per cent deemed interest in Fortress Minerals which takes her total interest to 33.59 per cent.

Frencken Group

On Dec 14, Frencken Group E28 chairman and non-executive non-independent director Gooi Soon Chai acquired 100,000 shares of the listed company at S$2.01 per share.

With a consideration of S$201,000, this took his total interest in the high-tech capital and consumer equipment service provider from 23.40 per cent to 23.43 per cent.

It followed his acquisition of 100,000 shares at S$2.06 per share on Dec 3.

Also, on Dec 14, Frencken Group president and executive director Dennis Au acquired 50,000 shares of the company at S$2.00 per share.

Au has over 30 years of experience in the high technology industry and was appointed president of Frencken Group in May 2015 and executive director in April 2016.

He is responsible for charting the group's strategic direction, setting the organisational goals, overseeing its global operations and driving its performance.

Au maintains a 0.86 per cent direct interest in Frencken Group.

Challenger Technologies

Between Dec 14 and 15, Digileap Capital acquired 152,700 shares of Challenger Technologies 573 at 56.2 cents per share.

With a consideration of S$85,760, this took the deemed interest of non-executive non-independent director Tan Keng Soon in the Singapore-focused multi-brand IT retailer from 14.94 per cent to 14.98 per cent.

Tan is the co-founder and manager partner of Dymon Asia Capital and was recently appointed to the board of Challenger Technologies, on Nov 29, 2021.

LHT Holdings

On Dec 16, LHT Holdings BEI chairman, managing director and CEO, Yap Mui Kee acquired 81,700 shares of the company for a consideration of S$53,334.

At an average price of 65.3 cents per share, this took Yap's total interest in the manufacturer of high-quality wooden pallets, boxes, and crates from 14.43 per cent to 14.58 per cent.

Her preceding acquisitions were on Oct 1, with 57,300 shares acquired at 65.0 cents per share and Sep 21 with 110,000 shares at 65.0 cents per share.

Yap has been the executive director of the company since Jan 2, 1988 and is in charge of all sales and marketing functions of the group.

After her appointment as acting managing director on Feb 26, 2016, she became chairman, managing director and CEO on Feb 10, 2017.

Yap has over 35 years of experience in sales and marketing and plays a key role in exploring opportunities in new markets.

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