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INSIDE INSIGHTS

Several real estate directors raise their company stakes

FOR the five local trading sessions that spanned Oct 9 to 15, the Straits Times Index (STI) declined 0.8 per cent, with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 0.4 per cent gain.

This has brought the STI's decline in total return for the 2020 year to Oct 15 to 18.8 per cent.

Over the five sessions, the iEdge S-Reit Leaders Index declined 0.2 per cent, bringing its decline in total return for the 2020 year to Oct 15 to 4.0 per cent.

Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$8.6 million, more than double to S$4.1 million in consideration for the preceding week.

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Yangzijiang Shipbuilding (Holdings) again led the consideration tally over the five sessions, buying back close to 7 million shares at an average price of 97.3 cents per share.

Hong Fok Corporation bought back 695,900 shares at an average price of 69.0 cents per share.

Director and substantial shareholder transactions

The five trading sessions saw approximately 90 changes in director interests and substantial shareholdings, filed for more than 30 primary-listed stocks.

This figure included 19 company director acquisitions, with three disposals filed, and substantial shareholders filing 14 acquisitions and 11 disposals.

Hong Fok Corporation

On Oct 12, Hong Fok Corporation executive director and joint CEO Cheong Pin Chuan acquired 1.1 million shares of the listed company for a consideration of S$748,000.

At 68 cents per share, the married deal increased his total interest in the real estate business from 20.11 per cent to 20.24 per cent.

Mr Cheong is principally involved in the group's overall operations and management with greater emphasis in Hong Kong, and has over 48 years of experience in property development at both management and board levels in Singapore and Hong Kong.

Back on Aug 14, Hong Fok Corporation reported H1FY20 (ended June 30) revenue of approximately S$44 million that compared to approximately S$47 million for H1FY19.

The decrease was mainly due to lower income from its investment properties with YOTEL Singapore Orchard Road recognising a sharp decrease in contribution amid the Covid-19 pandemic.

Ho Bee Land

On Oct 14, Ho Bee Holdings (Pte) Ltd acquired 97,800 shares of Ho Bee Land for a consideration of S$221,786 at an average price of S$2.27 per share.

This took the total interest of Chua Thian Poh, the founder of Ho Bee Group, from 75.39 per cent to 75.40 per cent.

Appointed the chairman and chief executive officer of the group in 1999, Mr Chua is responsible for the strategic planning and direction of Ho Bee Land, as well as its financial and investment decisions.

Earlier on Aug 13, Ho Bee Land reported a net profit after tax and non-controlling interests of S$90.6 million for its H1FY20 (ended June 30) representing a year-on-year increase of 115 per cent.

PropNex

On Oct 8, PropNex executive director Kelvin Fong Keng Seong increased his interest in PropNex.

He acquired 300,000 shares of PropNex, for a consideration of S$180,000, at an average price of 60.00 cents per share.

His preceding acquisition, between July 23 and 24, saw Mr Fong acquire 322,800 shares at an average price of 52.90 cents per share.

Mr Fong oversees the group's training development curriculum, and administers the development of IT strategies and technology innovations to improve the group's competitive edge in the industry.

Mr Fong's total interest in PropNex is now 8.23 per cent.

Riverstone Holdings

Between Oct 12 and 15, Riverstone Holdings executive chairman and chief executive officer Wong Teek Son acquired 103,000 shares of the listed company for a consideration of S$394,440. At an average price of S$3.83 per share, this increased his total interest in Riverstone Holdings from 51.08 per cent to 51.09 per cent.

This followed his acquisition of 283,000 shares at S$3.51 per share between Sept 24 and 30.

Mr Wong is the founder of Riverstone and was appointed to the board as executive chairman on Aug 3, 2005. His executive responsibilities include developing business strategies as well as overseeing the group's operations.

UOB-Kay Hian Holdings

Between Oct 8 and 14, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee-chao acquired 284,000 shares for a consideration of S$368,190 at an average price of S$1.30 per share.

This increased his total interest in UOBKH from 30.66 per cent to 30.69 per cent and followed the acquisition of 184,800 shares at S$1.25 per share between Oct 1 and 7.

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.

ISDN Holdings

On Oct 14, ISDN Holdings non-executive director Keith Hsiang-Wen Toh acquired 813,500 shares of the listed company for a consideration of S$300,995.

At 37 cents per share, the married deal increased his total interest in the leading industrial automation firm from 8.34 per cent to 8.53 per cent.

Mr Toh was appointed as a non-executive director on May 10, 2019 and is a partner at Novo Tellus Capital Partners, a private equity fund focused on investments in technology and industrials in South-east Asia.

Back on Aug 7, ISDN Holdings reported H1FY20 (ended June 30) revenue surged 13.8 per cent year on year to S$167.2 million, driven by solid performances in both ISDN's core industrial automation business and emerging hydropower business.

Roxy-Pacific Holdings

Between Oct 7 and 13, Kian Lam Investment Pte Ltd acquired 530,000 shares of Roxy-Pacific Holdings for a consideration of S$171,400.

At an average price of 32.34 cents per share, this took the total interest of executive chairman and chief executive officer, Teo Hong Lim, in Roxy-Pacific Holdings from 63.01 per cent to 63.05 per cent.

Kian Lam Investment Pte Ltd also acquired 500,000 shares between Sept 30 and Oct 6 at 32.28 cents per share.

Mr Teo has been a director of Roxy-Pacific Holdings since May 1993 and currently sets out the group's strategies and leads overall management.

On Oct 13, Roxy-Pacific Holdings executive director and deputy CEO Koh Seng Geok sold 330,000 shares of the listed company for a consideration of S$105,600.

At 32.00 cents per share, the married deal decreased his total interest in Roxy-Pacific Holdings from 0.56 per cent to 0.53 per cent.

Prior to his deputy CEO appointment on March 23, 2018, he served as chief financial officer, managing the financial, banking, accounting and legal aspects of the group.

Mr Koh supports the executive chairman and chief executive officer in the formulation of corporate strategies and the future direction of the group.

Healthway Medical Corporation

On Oct 14, Healthway Medical Corporation executive director and deputy chief executive officer Abram Suhardiman acquired 3,226,800 shares of the Catalist-listed company for a consideration of S$103,258.

At 3.2 cents per share, this took his total interest in Healthway Medical Corporation from 0.86 per cent to 0.93 per cent.

This followed his acquisition of 30.5 million shares, also at 3.2 cents per share on Oct 7.

He is responsible for overseeing the group's operations and corporate support functions including finance, legal, marketing, human resources, corporate communications and information technology divisions.

He also assists the chief executive officer in strategic planning and managing all aspects of the company and the group's business.

Prior to joining Healthway, he served as vice-president at Nuvest Capital.

He has also worked at The Abraaj Group and Citibank where he was part of the investment team in Southeast Asia.

GSS Energy

On Oct 8, GSS Energy executive director and group CEO Sydney Yeung Kin Bond sold 100,000 shares of the Catalist-listed company for a consideration of S$5,200.

At 5.2 cents per share, this disposal decreased his total interest in GSS Energy from 21.61 per cent to 21.59 per cent.

Mr Yeung has many years of experience in the financial industry.

He started his career in the institutional equity division at Morgan Stanley New York.

He was the managing director of international trading at Van der Moolen, a US securities specialist firm.

Back on Aug 14, GSS Energy reported that its H1FY20 (ended 30 June) net profit after tax of S$1.5 million was entirely from the precision engineering business, and outperformed the S$0.6 million losses recorded for the similar period last year.

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

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