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INSIDE INSIGHTS

Valuetronics, SunMoon Food and SATS commence buybacks

FOR the five trading sessions ended Sept 20, the Straits Times Index (STI) climbed 1.6 per cent, with the Nikkei 225, Hang Seng and S&P/ASX 200 Indices averaging a 1.9 per cent gain.

For the 2018 year through to Sept 20, the STI generated a 3.4 per cent decline in total return, compared to the three benchmarks which have averaged a 1.8 per cent gain.

While the Nikkei 225 has been Asia-Pacific's best performing benchmark in the year thus far, the least performing benchmark has been China's CSI 300 Index with a decline of 18.6 per cent in total return.

Share buybacks

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There were 21 stocks conducting buybacks over the five sessions ended Sept 20. The consideration totalled S$13 million which was down from S$49.6 million for the preceding five sessions. The buyback tally was led by City Developments, Oversea-Chinese Banking Corporation and Silverlake Axis.

Meanwhile three stocks - Valuetronics Holdings, SATS and SunMoon Food Company commenced buyback mandates.

Director and substantial shareholder transactions

The five sessions spanning Sept 14 to 20 saw 36 primary-listed stocks lodge more than 110 changes in director interests or substantial shareholdings. There were 29 company director acquisitions and one disposal, while substantial shareholders filed 15 acquisitions and five disposals. The same week in 2017 saw 46 stocks file approximately 120 transactions.

Oxley Holdings acquired 590,000 shares of United Engineers via a market transaction on Sept 14. Between Sept 17 and 18, Centurion Corporation non-executive director Han Seng Juan increased his total stake in Centurion Corporation from 56.426 per cent to 56.650 per cent.

He has gradually increased his stake in the owner, developer and manager of quality, purpose-built workers and student accommodation assets, from 55.004 per cent at the end of 2017. Mr Han has been a principal and director of Centurion Global Ltd, the controlling shareholder of the company, since 2008.

Between Sept 13 and 19, PropNex co-founder, executive chairman and CEO Mohamed Ismail Gafoor increased his total interest in Singapore's largest listed real estate agency from 62.84 per cent to 63.5 per cent.

The majority of his deemed stake is via his 62 per cent ownership of P&N Holdings Pte Ltd. Mr Mohamed Ismail is responsible for the group's strategic direction and oversees business operations.

China Sunsine Chemical Holdings

On Sept 19, China Sunsine Chemical Holdings independent director Koh Choon Kong acquired 50,000 shares of the stock for a consideration of S$49,750, bringing his stake to 0.86 per cent.

Mr Koh has more than 20 years of audit, accounting, corporate finance and business experience, and currently is part of the management team of the largest independent power producer in Bangladesh, Summit Power International Limited.

In the preceding week, another China Sunsine Chemical Holdings independent director, Paul Tan Lye Heng, also acquired 50,000 shares of the company.

Metro Holdings

On Sept 5, substantial shareholder Takashimaya Co, Ltd acquired 2,520,000 shares of Metro Holdings for a consideration of S$2,772,000. This increased the total interest of Takashimaya in Metro Holdings from 10.023 per cent to 10.328 per cent.

Takashimaya has a controlling interest in Ngee Ann Development Pte Ltd and is therefore deemed to be interested in the 85,515,056 shares in the capital of Metro Holdings in which Ngee Ann Development has a direct interest.

CSE Global

On Sept 12, CSE Global deputy chairman and non-executive, non-independent director Mohd Abdul Karim bin Abdullah acquired 2 million shares of the global technologies company. The consideration of the transaction totalled S$894,683 and took his deemed interest in CSE Global from 25.58 per cent to 25.97 per cent. He is also group managing director and deputy chairman of Serba Dinamik Holdings Bhd.

UIC

On Sept 14, UOL Equity Investments Pte Ltd acquired 218,700 shares of United Industrial Corporation (UIC) for a consideration of S$645,780 at an average price of S$2.9528 per share. This took the total stake in UIC that is held by its chairman, Wee Cho Yaw, to 50.093 per cent.

ValueMax Group

Between Sept 13 and 14, ValueMax Group managing director and CEO Yeah Hiang Nam acquired 421,200 shares of the stock for a consideration of S$117,936.

This took the deemed interest of Mr Yeah in ValueMax Group from 79.52 per cent to 79.60 per cent.

He is responsible for the overall strategic, management, and business development of the group and has more than 45 years of experience dealing with gold and jewellery, and more than 25 years in the pawnbroking industry.

Through a series of acquisitions he has built his total interest in ValueMax Group from 79.03 per cent on Aug 14.

Heeton Holdings

Between Sept 14 and 17, Heeton Holdings executive director and CEO Eric Teng Heng Chew acquired 130,000 shares of the stock for a consideration of S$65,649. He maintains a 0.062 per cent stake in the stock and oversees the group's businesses and implements the directions, strategies and plans of the board.

Mr Teng has 30 years of experience in marketing, communications, property and hospitality in both private and public listed companies.

Bonvests Holdings

Bonvests Holdings chairman and managing director Henry Ngo increased his deemed interest on Sept 18, acquiring 50,100 shares for a consideration of S$65,130. This increased his total stake in Bonvests Holdings to 83.03 per cent.

Mr Ngo is also the founder of Bonvests Holdings and is responsible for mapping out the corporate and growth strategy of the group.

Hwa Hong Corporation

Steven Ong Kay Eng continued to increase his total stake in Hwa Hong Corporation with the acquisition of 95,000 shares.

The transaction on Sept 13 had a consideration value of S$30,176, and increased his stake in Hwa Hong Corporation to 13.83 per cent.

Mr Ong has gradually grown his stake in the company from 10.80 per cent on Nov 28, 2016, and 7.38 per cent at the end of 2014.

Multi-Chem

On Sept 13, Multi-Chem executive director and general manager Foo Fang Yong acquired 28,000 shares for a consideration of S$23,520. This increased Mr Foo's direct interest in Multi-Chem from 0.056 per cent to 0.087 per cent.

He joined the company's subsidiary, M.Tech Products Pte Ltd in 2011 as an I-Security Engineer and was appointed a director in May 2015.

Enviro-Hub Holdings

Between Sept 14 and 20, Enviro-Hub Holdings executive chairman Raymond Ng acquired 886,500 shares of the environmental management solutions group for a consideration of S$31,004.

This took his total stake in the stock from 40.03 per cent to 40.12 per cent.

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

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

Roxy-Pacific Holdings

On Sept 12, Roxy-Pacific Holdings independent director Winston Tan acquired 35,000 shares of the stock for a consideration of S$14,257.

This increased his stake in Roxy-Pacific Holdings to 1.608 per cent.

Mr Tan is also a non-executive director of Plastoform Holdings Limited and Serrano Limited and currently the managing director for Winmark Investments Pte Ltd, Corporate Brokers International Pte Ltd and ZhenXing Commercial Consultancy (Shanghai) Co Ltd.

BM Mobility

On Sept 14, BM Mobility executive chairman Koo Ah Seang acquired 911,100 shares for a consideration for S$10,933. This took his stake in the stock to 14.26 per cent.

Mr Koo has more than 20 years of experience and knowledge in general and financial management and corporate restructuring.

New Silkroutes

On Sept 19, New Silkroutes group executive director and CEO Goh Jin Hian acquired 10,000 shares for a consideration of S$2,450.

This took his stake in the stock to 3.802 per cent which has gradually increased from 3.41 per cent at the end of 2017.

He is also the chairman and an independent director of Cordlife Group.

Prior to joining New Silkroutes Group, he was a C-suite executive in ParkwayHealth from 1999 to 2011 and an executive director in a private oil and gas company from 2012 to 2014.

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