Tai Sin's CEO raises stake after FY21 revenue growth; OCBC, UOB lead buyback tally

FOR the five trading sessions that spanned Aug 27 to Sept 2, the Straits Times Index (STI) declined 0.7 per cent, with the FTSE China A50 Index, Hang Seng Index and FTSE Bursa Malaysia KLCI averaging a 0.9 per cent gain.

Within the STI, Mapletree Logistics Trust M44U , Mapletree Commercial Trust N2IU , Ascendas Reit A17U , Singapore Airlines C6L and Jardine Matheson Holdings J36 received the highest net institutional inflows from Aug 27 to Sept 2.

Outside the STI, Singapore Press Holdings T39 , ESR-Reit J91U , Suntec Reit T82U , Raffles Medical Group BSL and Ascott Residence Trust received the highest net institutional inflows.

Overall, institutions were net sellers over the five sessions, with S$110 million of net outflow, with Singapore Exchange S68 , UOB U11 and OCBC O39 recording the highest net institutional outflow.

Share buybacks

There were a dozen primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$27.3 million, not far from the S$31.0 million in consideration for the preceding five sessions.

Again, OCBC and UOB led the tally. OCBC bought back 1.18 million shares at an average price of S$11.59 per share, while UOB bought back 290,500 shares at an average price of S$25.72 per share.

Monthly buybacks reached an eight-month high in August with 25 primary-listed companies paying S$96.3 million in total consideration.

Director and substantial shareholder transactions

The five trading sessions saw 90 changes in director interests and substantial shareholdings filed for close to 40 primary-listed stocks.

This included 17 company director acquisitions with three disposals filed, while substantial shareholders filed 15 acquisitions and eight disposals.

GSH Corporation

Between Aug 26 and 31, GSH Corporation BDX executive chairman Sam Goi Seng Hui acquired 68,297,733 shares for a consideration of S$11,610,219. At 17.0 cents per share, this increased his total interest in the property developer, hotel and resort operator from 60.09 per cent to 63.58 per cent.

This followed Mr Goi's acquisition of 100,000 shares at 16.8 cents per share on Aug 25 and 5,205,000 shares at 16.8 cents per share between Aug 13 and 18.

Tai Sin Electric

Between Aug 27 and Sept 1, Tai Sin Electric 500 executive director and CEO Bernard Lim Boon Hock acquired 2,312,600 shares of the company for a consideration of S$876,052.

At an average price of 37.9 cents per share, this took his total interest in Tai Sin Electric from 16.38 per cent to 16.88 per cent.

Established as a cable manufacturing business in 1980, and after more than 40 years of strategic expansion and diversification, Tai Sin Electric has emerged as a leading industrial group in South-east Asia.

Mr Lim has been an executive director of the company since September 1997, with the company listing on Sesdaq in 1998, and subsequently transferred to the SGX Main Board in 2005.

On Aug 26, Tai Sin Electric announced its H2FY21 (ended June 30) group revenue totalled S$163.73 million, up 47.1 per cent from H2FY20. This was on the back of an increase of 74.7 per cent of S$41.44 million in the cable & wire segment from H2FY20.

It saw its FY21 (ended June 30) revenue increase 8.0 per cent, to S$298.44 million from S$276.41 million in FY20.

The group's FY21 profit before tax increased to S$21.32 million from S$12.41 million in FY20.

With the results, the group noted that despite the challenges and limited visibility due to Covid-19, it managed to continue its transformation process to be Industry 4.0 ready, and will launch new products and services when opportunities arise.

RE&S Holdings

Between Aug 26 and 31, RE&S Holdings 1G1 (RE&S) executive director and president Hiroshi Tatara acquired 1,050,000 shares of the Catalist-listed company for a consideration of S$193,565.

At an average price of 18.4 cents per share, this increased Mr Tatara's total interest in RE&S from 61.91 per cent to 62.21 per cent.

It followed his acquisition of 100,000 shares at 17.0 cents per share on Feb 15 and 67,100 shares at 15 cents per share on Feb 9.

Mr Tatara is also the founder of RE&S and has been active in overseeing the group's overall corporate strategy and relocated to Singapore from Osaka, Japan in 1976.

On Aug 25, RE&S reported a turnaround profit after tax of S$9.5 million for its FY21 (ended June 30) with revenue increasing by 12.0 per cent to S$123.9 million from FY20, largely due to the easing of Covid-19 restrictions and growth in online delivery sales, partially offset by the implementation of Phase 2 Heightened Alert.

With the results, RE&S executive director and CEO Fenton Foo noted that the group had put in efforts in adapting to the changing landscape, and to grow through the expansion of its quick service restaurant segment, and will continue to look for new business opportunities and improve profitability while staying vigilant and nimble to thrive in the challenging operating environment.

Ho Bee Land

On Aug 27, Ho Bee Holdings acquired 39,700 shares of Ho Bee Land H13 for a consideration of S$111,160 at an average price of S$2.80 per share.

Ho Bee Land chairman and CEO, Chua Thian Poh owns 82.5 per cent of the shares of Ho Bee Holdings.

This saw the acquisition marginally increase his deemed interest in Ho Bee Land, which is 75.49 per cent.

Ho Bee Holdings' preceding acquisition of Ho Bee Land shares was on May 24, with 133,700 shares acquired at an average price of S$2.54 per share and March 23 with 15,000 shares acquired at S$2.42 per share.

Mr Chua is the founder of Ho Bee Group, and was appointed as the group's chairman and CEO in 1999.

On Aug 12, Ho Bee Land announced a net profit after tax and on-controlling interests of S$105.5 million for its H1FY21 (ended June 30), an increase of 16 per cent from H1FY20 due to higher rental income and development profits.

With the results, Mr Chua noted that by taking advantage of the buoyant residential market in Singapore, the group has started to sell its apartments in Sentosa Cove with some success.

He added that with the new waves of infections caused by the Covid-19 variants, the business environment is still very hazy and challenging. However with international vaccinations gaining pace the group is hopeful that the global economic outlook will improve.

The Straits Trading Company

On Aug 31, The Straits Trading Company S20 independent and non-executive director Tan Tiong Cheng acquired 20,000 shares of the company for a consideration of S$63,600.

At S$3.18 per share, this increased his total interest in the conglomerate-investment company from 0.01 per cent to 0.02 per cent.

Mr Tan served as president and subsequently as senior adviser of Knight Frank Asia-Pacific until his retirement on March 31, 2020.

He was the executive chairman of Knight Frank Pte Ltd's Group of Companies until March 31, 2017.

Mr Tan is also an independent and non-executive director of UOL Group, the lead independent director of Heeton Holdings and a non-executive independent director of Amara Holdings.

On Aug 13, The Straits Trading Company reported an increase in H1FY21 (ended June 30) Ebitda to S$186.9 million, compared to S$27.7 million in H1FY20.

With the results, executive chairman Chew Gek Khim noted that despite the global pandemic, the group's performance in H1FY21 demonstrated the resilience of its strategy as a conglomerate investment company, with both operations as well as financial investments in real estate, hospitality, and resources.

Lendlease Global Commercial Reit

On Aug 30, Lendlease Global Commercial Trust Management independent non-executive director Simon John Perrott acquired 65,000 units of Lendlease Global Commercial Reit JYEU for a consideration of S$57,200.

At 88.0 cents per unit, this was his first acquisition of units in the Reit.

Mr Perrott was previously the chairman of CIMB Bank Australia from 2012 to 2014 and the chairman of RBS Australia from 2009 to 2012.

From 2002 to 2009, he held various roles in ABN AMRO Bank where his last held role was co-head of banking.

The prior week saw Lendlease launch an open call for submissions of visual concepts and name suggestions for its new plug-and-play event space on the site of the Grange Road open-air carpark, as part of a branding contest for the new development.

Along with nine other Singapore-listed Reits and one stapled trust, Lendlease Global Commercial Reit is scheduled to join the FTSE EPRA Nareit Global Developed Index, at the Sept 17 market close.

GHY Culture & Media

On Aug 27, GHY Culture & Media XJB executive chairman and group CEO Guo Jingyu acquired 54,300 shares of the company for a consideration of S$33,275 at an average price of 61.3 cents per share.

This followed his acquisition of 200,900 shares at 61.5 cents per share between Aug 20 and 25.

Mr Guo has gradually increased his total interest in the company from 59.0 per cent prior to Dec 28, to 60.01 per cent as of Aug 27.

Hafary Holdings

On Sept 1, Hafary Holdings 5VS executive director and CEO, Low Kok Ann acquired 130,000 shares of the company for a consideration of S$21,660.

At 16.7 cents per share, this increased his total interest in the leading building material supplier from 8.42 per cent to 8.45 per cent.

Mr Low's primary role in the group is to formulate and oversee the corporate and strategic development and overall management and operations.

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