S$24 million in buybacks; Medinex makes debuts on Catalist

Published Sun, Dec 16, 2018 · 09:50 PM

FOR the 2018 year through to Dec 13, the Straits Times Index (STI) generated a 5.8 per cent decline in total return, amid regional moves that have ranged from a 0.9 per cent decline for the Nikkei 225 Index to a 20.8 per cent decline for China's CSI 300 Index.

For the five trading sessions ended Dec 13, the STI generated a marginal decline of 0.1 per cent, while the Hang Seng Index, Nikkei 225 index and S&P/ASX 200 averaged a 0.8 per cent gain.

Share buybacks

There were 17 stocks conducting buybacks over the five sessions ended Dec 13, similar to the 16 stocks for the preceding week.

The consideration totalled S$24.3 million, marginally up from S$23.1 million filed for the preceding week.

United Overseas Bank, Keppel Reit Management, Oversea-Chinese Banking Corporation, Stamford Land Corporation and Venture Corporation led the consideration tally.

HC Surgical Specialists (HCSS) commenced its new buyback mandate; acquiring 180,000 shares on Dec 7. HCSS' previous 12-month mandate saw the company acquire 759,000 shares.

Director and substantial shareholder transactions

The five sessions spanning Dec 7 to 13 saw 37 primary-listed stocks lodge 130 changes in director interests or substantial shareholdings.

Similar to the previous week, there were 25 company director acquisitions and one disposal filed, while substantial shareholders filed 18 acquisitions and two disposals.

Medinex

Medinex, a Singapore-based integrated medical services provider, made its debut on SGX Catalist on Dec 7.

Medinex provides comprehensive medical support and pharmaceutical procurement services to companies in the primary and secondary healthcare sectors, comprising general practitioners and specialists.

This was the first Catalist stock to be both brought to the market and sponsored by Novus Corporate Finance Pte Ltd.

Of the S$5.32 million in net proceeds raised from the issue of the new shares, the group intends to use S$4 million for the expansion of business operations including expansion of its marketing and business development team and the potential acquisition of Ark Leadership & Learning Pte Ltd and S$1.32 million for working capital.

Medical services group and Catalist-listed HC Surgical Specialists (HCSS) is a substantial shareholder of Medinex.

Following the placement, HCSS executive director and CEO Heah Sieu Min and HCSS executive director Chia Kok Hoong maintain a 22.92 per cent deemed interest in Medinex, on account of HCSS' direct interest in the stock.

HSN Healthcare Pte Ltd maintains a 9.5 per cent direct interest in Medinex, which takes the total interest of HCSS in Medinex to 32.42 per cent.

Medinex non-executive chairman John Tan Lee Meng maintains an 8.59 per cent direct stake in the stock, while executive director and CEO Jessie Low Mui Choo maintains a 20.65 per cent direct interest in the stock.

Following on from an initial offer price of S$0.250 per share, the stock ended Dec 13 with a share price of S$0.265.

UOB-Kay Hian Holdings

Between Dec 11 and 12, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH from 27.83 per cent to 27.93 per cent.

Mr Wee acquired 756,900 UOBKH shares for a consideration of S$900,711.

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

Oxley Holdings

Between Dec 6 and 12, Oxley Holdings (Oxley) executive chairman and CEO Ching Chiat Kwong acquired 1,354,200 shares of Oxley for a consideration of S$394,585.

This took his total stake in the stock to 41.59 per cent.

At Oxley, Mr Ching is responsible for the formulation of corporate strategies, charting future growth plans and driving overall performance of the group.

Apart from his commitments at Oxley, Mr Ching sits on the boards of Galliard (Group) Ltd, Pindan Group Pty Ltd and Aspen (Group) Holdings Ltd.

Between Dec 6 and 7, Oxley deputy CEO & executive director Eric Low See Chin acquired 200,000 shares of Oxley for a consideration of S$58,500.

This increased his direct stake in the home-grown property developer to 27.81 per cent.

Mr Low is responsible for business development, as well as supporting Mr Ching in the formulation of corporate strategies and future direction of the group.

Mr Low is also a non-executive director of Hafary Holdings where he previously served as CEO.

China Star Food Group

Between Dec 11 and 12, China Star Food Group substantial shareholder PTS Capital Pte Ltd acquired 15,358,100 shares of the stock for a consideration of S$379,345.

On Dec 10, China Star Food Group announced a proposed one-for-one renounceable rights issue at 1.5 cents per rights share, with net proceeds to go towards a partial capital contribution for a China subsidiary as well as working capital in Singapore.

No Signboard

Between Dec 6 and 7, GuGong Pte Ltd acquired 1,529,000 shares of No Signboard Holdings for a consideration of S$201,975.

No Signboard Holdings executive chairman and CEO Sam Lim Yong Sim maintains a 93.64 per cent stake of GuGong Pte Ltd.

With the acquisition, Mr Lim's total interest in No Signboard Holdings has increased from 74.31 per cent to 74.64 per cent.

Mr Lim joined the group in 1998 and has spearheaded its development and expansion over the past two decades.

LHT Holdings

On Dec 11, LHT Holdings chairman, managing director and CEO Yap Mui Kee acquired 267,100 shares of the stock for a consideration of S$181,628.

This took her total interest in the manufacturer of high quality wooden pallets, boxes and crates to 13.162 per cent.

Ms Yap has been an executive director of the company since 1988 and is in charge of all sales and marketing functions.

She is also actively involved in the group's Efficient Consumer Response (ECR) pallet rental business in Singapore and Malaysia, and spearheads the group's Radio Frequency Identification ECR Pallet Tracking System.

Ms Yap was appointed as LHT Holdings' acting managing director on Feb 26, 2016 and was re-designated as the chairman, managing director and CEO on Feb 10, 2017.

Ms Yap's preceding acquisition of LHT Holdings shares was on Nov 30.

Hong Lai Huat Group

On Dec 12, Hong Lai Huat Group deputy chairman and CEO Ong Bee Huat acquired 787,100 shares of the real estate and property developer for a consideration of S$169,227.

He is the founder of the group and the acquisition increased his direct stake in the stock from 15.23 per cent to 15.58 per cent.

He is responsible for the group's overall strategic direction and planning as well as business development.

Thai Beverage PCL

On Dec 6, Thai Beverage PCL director and senior executive vice-president Ueychai Tantha-Obhas acquired 200,000 shares of the stock for a consideration of S$121,000.

This took his total stake in the stock to 0.00211 per cent and followed a similar sized acquisition on June 27.

Mr Tantha-Obhas is the current chief of route-to-market for Thai Beverage PCL, and was first appointed as director of the company in 2005.

Koufu Group

On Dec 11, Jun Yuan Holdings Pte Ltd (Jun Yuan Holdings) acquired 150,000 shares of Koufu Group for a consideration of S$93,000.

This increased Jun Yuan Holdings' stake in Koufu Group to 78.32 per cent.

Both Koufu Group executive chairman and CEO Pang Lim and executive director Ng Hoon Tien hold 50 per cent of the shares of Jun Yuan Holdings.

Both Mr Pang and Mdm Ng are founding shareholders of Koufu Group.

Mr Pang is responsible for the overall management and operations of the group, setting and executing the strategic directions and expansion plans for the growth and development of the group.

Mdm Ng is responsible for the oversight of the operations of Koufu Group.

Mdm Ng also assists Mr Pang in the formulation and implementation of the group's business strategies and the F&B operations of the group.

Sing Holdings

Between Dec 5 and 13, Sing Holdings managing director and CEO Lee Sze Hao acquired 203,300 shares of the stock for a consideration of S$79,037.

This took Mr Lee's total stake in the stock to 39.39 per cent.

Since Sing Holdings reported its FY17 results in February, he has gradually increased his stake in the company from 38.45 per cent.

Mr Lee joined the group as an executive director in 1992, has been CEO since 2009 and has been running the property business for more than 20 years.

Samko Timber

On Dec 10, Samko Timber executive director and CEO Riko Setyabudhy Handoko acquired 930,000 shares of the stock for a consideration of S$26,740.

He has served on the Samko Timber Board since June 2016 and maintains a 0.24 per cent direct stake of the stock.

His previous acquisition of Samko Timber shares was back on Sept 20.

Enviro-Hub Holdings

On Dec 7, Enviro-Hub Holdings executive chairman Raymond Ng acquired 83,900 shares of the environmental management solutions group for a consideration of S$4,027.

This took his total stake in the stock to 40.35 per cent.

Mr Ng is responsible for the group's overall management, business development, investment decisions as well as strategic direction and planning.

Mr Ng has gradually increased his stake in Enviro-Hub Holdings from 39.15 per cent prior to March 7.

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