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Riverstone's Lee Wai Keong trims stake from 10.92% to 8.82%
FOR the five local trading sessions that spanned Aug 28 to Sept 3, the Straits Times Index (STI) gained 0.5 per cent, with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a flat zero per cent performance.
This has brought the STI's decline in total return for the 2020 year to Sept 3 to 18.6 per cent.
Over the five sessions, the iEdge S-Reit Leaders Index was up 2.2 per cent, bringing its decline in total return for the 2020 year to Sept 3 to 5.3 per cent.
There were 11 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$6.0 million, not far from the S$7.5 million for the preceding week.
Keppel Corporation, Silverlake Axis, Singapore Technologies Engineering, AEM Holdings and Global Investments led the consideration tally.
Director and substantial shareholder transactions
The five trading sessions again saw close to 100 changes in director interests and substantial shareholdings, filed for approximately 40 primary-listed stocks.
This included 17 company director acquisitions, with six disposals filed, and substantial shareholders filing six acquisitions and four disposals.
On Sept 3, Riverstone Holdings co-founder, executive director and chief operating officer Lee Wai Keong sold 15,496,000 shares of the listed company in a married deal for a consideration of S$61,209,200.
At S$3.95 per share, this reduced his total interest in Riverstone Holdings from 10.92 per cent to 8.82 per cent.
Mr Lee's preceding disposal of the shares was back on Dec 14, 2017, with 5.5 million shares sold at S$1.05 per share.
On Aug 6, Riverstone Holdings reported group revenue rose to RM 626.7 million (S$206 million) for H1FY20 (ended June 30), attributable to the surge in global demand for its products such as healthcare examination gloves, cleanroom gloves and facemasks.
The group's gross profit recorded a 108.4 per cent year-on-year surge to RM197.7 million for H1FY20.
Malaysia-based, Riverstone Holdings is a global market leader in the manufacturing of nitrile and natural rubber cleanroom gloves used in highly controlled and critical environments as well as premium nitrile gloves used in the healthcare industry.
Mr Lee was appointed to the board as an executive director on Aug 3, 2005. He has contributed to the group's high quality control and production standards required to meet stringent international standards in the highly demanding cleanroom industry and is responsible for the group's production facilities in Malaysia, Thailand and China.
Between Aug 31 and Sept 1, QT Vascular co-founder and CEO, Eitan Konstantino, reduced his total interest in the Catalist-listed company from 2.65 per cent to 0.41 per cent.
Dr Konstantino sold 50 million shares for a consideration of S$745,962 at an average price of 1.49 cents per share.
Separately, on Aug 26, Tanhum Feld, through his vehicle MDIE Pte Ltd, sold 150 million shares of QT Vascular at 1.79 cents per share, reducing its stake in QT Vascular from 8.81 per cent to 2.10 per cent.
On Sept 1, Haiyi Holdings Pte Ltd (Haiyi) acquired 12,708,300 shares of SingHaiyi Group for a consideration of S$914,998 at 7.2 cents per share. The married deal increased SingHaiyi group managing director Celine Tang's deemed interest in SingHaiyi Group from 64.47 per cent to 64.77 per cent.
The preceding acquisition of 5,960,900 shares, between Aug 21 and 26 was also booked at 7.2 cents per share.
Prior to the recent wave of acquisitions of SingHaiyi Group shares by Haiyi since Aug 13, Mrs Tang's deemed interest stood at 63.17 per cent.
She also serves as managing director of Haiyi where she oversees its daily operations and decision-making. She is also the non-executive chairman of Chip Eng Seng Corporation and OKH Global.
UOB-Kay Hian Holdings
UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee-chao increased his total interest in UOBKH on Aug 27, which is now at 30.60 per cent.
Mr Wee acquired 100,000 UOBKH shares for a consideration of S$124,000 at S$1.24 per share, matching his acquisitions for the preceding two sessions.
Besides his stockbroking involvement in UOBKH, Mr Wee is also involved in investment and real estate development in the region.
He serves on the board of Haw Par Corporation Ltd and UOL Group Ltd as a non-executive director and is a director of Kheng Leong Co Pte Ltd and Wee Investment Group.
Mr Wee's total interest in UOBKH has gradually increased from 29.49 per cent at the end of 2019, and increased from 27.98 per cent at the end of 2018.
Between Aug 27 and 28, non-independent non-executive director Quek Leng Chan increased his deemed interest in the listed company by 63,100 shares.
GuocoLand Assets Pte Ltd acquired the shares at a consideration of S$91,495, at S$1.45 per share. Mr Quek maintains a 71.93 per cent total interest in GuocoLand.
He is also the chairman & CEO of Hong Leong Company (Malaysia) Berhad and has extensive business experience in various business sectors, including financial services, manufacturing and real estate.
Federal International (2000)
Between Aug 27 and 28, Federal International (2000) (Federal) executive chairman and CEO Koh Kian Kiong acquired 285,000 shares of the listed company for a consideration of S$46,413.
At an average price of 16.29 cents per share, this took his total interest in Federal from 19.84 per cent to 20.04 per cent.
His total interest in Federal has gradually increased from 15.77 per cent at the beginning of 2016.
Mr Koh is one of the founders of the group and has more than 45 years of experience in the oil and gas industry.
He oversees the formulation of the group's corporate strategies and expansion plans and holds directorships in various subsidiaries and associated companies of the group.
Between Aug 26 and 31, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 99,000 shares of the listed company for a consideration of S$32,175.
At 32.50 cents per share, this increased his total interest in Roxy-Pacific Holdings from 0.78 per cent to 0.79 per cent.
Mr Tan's preceding acquisitions earlier in August were also booked at 32.50 cents per share and the independent director has gradually increased his total interest in the company from 0.71 per cent on March 29.
Mr Tan has been a non-executive director of Roxy-Pacific Holdings since December 2006.
He is also executive chairman of Serrano and non-executive director of Plastoform Holdings.
In addition, he is currently the managing director of Winmark Investments Pte Ltd, Corporate Brokers International Pte Ltd and ZhenXing Commercial Consultancy (Shanghai) Co Ltd.
Envictus International Holdings
Between Aug 27 and 28, Envictus International Holdings non-executive director and vice-chairman Sam Goi Seng Hui increased his total interest in the listed company from 25.06 per cent to 25.18 per cent.
Mr Goi acquired 296,000 shares for a consideration of S$29,008 at 9.80 cents per share.
This followed his past acquisitions of 389,300 shares on Aug 11, and 833,000 shares between July 9 and July 14, with those acquisitions, also booked at 9.80 cents per share.
Mr Goi also serves on the board of three other Mainboard-listed companies as vice-chairman of Super Group, vice-chairman of JB Foods, and director of Tung Lok Restaurants (2000).
Between Aug 28 and 31, Uni-Asia Group executive director, Kenji Fukuyado acquired 40,500 shares of the listed company for a consideration of S$18,962.
At an average price of 46.82 cents per share, this took his total interest in the group from 1.22 per cent to 1.27 per cent.
Mr Fukuyado's preceding acquisitions of Uni-Asia Group shares were on Aug 26, with 9,500 shares acquired at 45.50 cents per share, April 17 with 30,000 shares acquired at 53.50 cents per share, and April 15 with 30,000 shares acquired at 50.50 cents per share.
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.
Hwa Hong Corporation
On Sept 1, Hwa Hong Corporation (Hwa Hong) substantial shareholder David Ong Eng Hui acquired 31,000 shares of the listed company for a consideration of S$9,175 at an average price of 29.60 cents per share.
Dr Ong has gradually increased his total interest in Hwa Hong from 5.32 per cent at the end of 2018, to 6.29 per cent as of Sept 1.
The acquisitions also increased the deemed and hence total Hwa Hong interest of Dr Ong's father, Steven Ong Kay Eng, whose total interest stands at 16.17 per cent.
Between Sept 1 and 2, VibroPower Corporation substantial shareholder Chng Beng Hock increased his total interest in the stock from 10.71 per cent to 10.78 per cent. The 38,200 shares were acquired at an average price of 13.80 cents per share, with a consideration of S$5,272.
Mr Chng has increased his substantial shareholding in VibroPower Corporation from 5.24 per cent on June 15.
- The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit sgx.com/research.