Venture chairman Wong Ngit Liong adds to his stake

FOR the five trading sessions that spanned Nov 5 to 11, the Straits Times Index (STI) gained 0.6 per cent, with the FTSE China A50 Index gaining 0.7 per cent, the Hang Seng Index gaining 0.2 per cent and the FTSE Bursa Malaysia KLCI declining 0.7 per cent.

Within the STI, Singapore Airlines C6L , Genting Singapore G13 , Thai Beverage Y92 , UOB U11 and Singapore Telecommunications Z74 received the highest net institutional inflows from Nov 5 to 11.

Outside the STI, AEM Holdings AWX , Ascott Residence Trust HMN , Mapletree North Asia Commercial Trust RW0U , SIA Engineering S59 and Suntec Reit T82U received the highest net institutional inflows.

Overall, institutions were net sellers over the five sessions, with S$132 million of net outflow, with DBS D05 Group Holdings, Yangzijiang Shipbuilding BS6 (Holdings) and OCBC O39 seeing the highest net institutional outflows.

Share buybacks

There were 19 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$59,497,760.

Yangzijiang, Wilmar International F34 and OCBC led the consideration tally, paying respective average prices of S$1.28, S$4.37 and S$11.92. Q & M Dental Group QC7 (Singapore) led the buyback consideration tally for the non-STI stocks.

Secondary-listed Hongkong Land H78 bought back 138,800 shares on Nov 10, paying between US$5.60 and US$5.57 per share, while secondary listed Jardine Matheson Holdings J36 bought back 599,800 shares across the five sessions, paying between US$60.00 and US$58.85 per share. On four of the five days, the maximum price Jardine Matheson Holdings paid for its shares was US$60.00.

Director and substantial shareholder transactions

The five trading sessions saw 76 changes in director interests and substantial shareholdings filed for close to 40 primary-listed stocks.

This included 10 company director acquisitions with six disposals filed, while substantial shareholders filed four acquisitions and five disposals.

Cordlife Group

On Nov 10, TransGlobal Real Estate Group acquired 71,460,300 shares of Cordlife P8A at 52.0 cents per share. The married deal, with a consideration of S$37,159,356, took TransGlobal's direct interest in the regional pioneer of private cord blood banking to 27.99 per cent.

The acquisition saw the share price of Cordlife Group gain 15.3 per cent on Nov 10 to 49.0 cents, while achieving a session high of 53.5 cents, a level last seen in August 2019.

Cordlife Group substantial shareholders, Lui Yim Sheung and Yiu Chi Shing each hold 50 per cent of the voting rights of TransGlobal Real Estate Group. The shares were acquired from the former substantial shareholder, Hon Kwok Lung, and his nominee companies, Full Day and Sincere View International.

Cordlife owns the largest network of cord blood banks in Asia with full stem cell banking facilities in six key markets namely Singapore, Hong Kong, Indonesia, India, Malaysia and the Philippines. In Singapore, the Philippines and Indonesia, Cordlife operates the largest private cord blood banks; and is among the top three market leaders in India and Malaysia.

Venture Corporation

On Nov 8, Venture Corporation V03 (Venture) executive chairman Wong Ngit Liong acquired 200,000 shares of the company at an average price of S$18.73 per share. With a consideration of S$3,745,600, this took his direct interest in Venture from 7.04 per cent to 7.11 per cent.

His preceding acquisition of Venture shares via market transactions were back in 2017 with 400,000 shares of Venture purchased at S$15.26 per share in September and 271,600 shares purchased at S$12.51 per share in July of that year.

The acquisitions in July 2017 and November 2021 were both conducted when Venture was trading at an 18x earnings multiple.

Wong has been the recipient of many awards for his business acumen and services to the industry and has been instrumental in the growth of Venture since its beginnings as a startup in the electronics manufacturing services business in the early 1980s.

On Nov 5, Venture announced that Wong will step down from his chief executive officer position on Jan 1, 2022 but will remain as the executive chairman of the board. The current chief operating officer Lee Ghai Keen will take Wong's place as chief executive officer.

As noted on Nov 3, in its Q3FY21 (ended Sep 30) business update, for the next 12 months, Venture expects several new products to be launched into global markets, including products uniquely emanating from its R&D Labs and manufacturing sites.

The group noted that it is also seeing strong trends in new product introductions activities, which are expected to flow through to mass production at its manufacturing sites over the next 12 months.

With Venture maintaining that it is at a crucial stage in its strategic evolution, it has also established two panels comprising specialists in selected fields to support the group's strategic directions. The panel of experts constitutes distinguished scientists and engineers with eminent qualifications and high professional standing in selected fields of expertise to provide guidance to the group's R&D initiatives.

The panel of advisers will support the company's investment committee on business planning and strategic initiatives to, among other things, evaluate viable investments in diverse portfolios.

iFAST Corporation

Between Nov 3 and 5, iFAST Corporation AIY non-executive director Lim Wee Kian acquired 56,000 shares of the company at an average price of S$8.65 per share. With a consideration of S$484,370 this increased his total interest in the wealth management fintech platform from 7.10 per cent to 7.12 per cent.

Lim was first appointed to the board of iFAST Corporation in April 2004. He is also the head of foreign exchange, treasury and markets at DBS Bank and has been with DBS Bank since August 2004.

Prior to joining DBS Bank, he was with various investment banks and was a member of the teams engaged in the trading of foreign exchange and interest rate products.

As at end June 2021, iFAST Corporation offered access to more than 13,000 investment products including over 8,600 funds from over 270 fund houses, over 1,400 bonds, stocks and ETFs listed on the Singapore, Hong Kong and US stock exchanges, as well as services including online discretionary portfolio management services, research and investment seminars, fintech solutions, and investment administration and transaction services.

Parkway Life

On Nov 5, Parkway Trust Management non-executive director Joerg Ayrle acquired 29,000 units of Parkway Life Reit C2PU (PLife Reit) at S$4.70 per unit for a consideration of S$136,000.

This was Ayrle's first acquisition of units in PLife Reit since his appointment to the board on Apr 23, 2021.

He was also appointed the group chief financial officer of IHH Healthcare on Feb 1, 2021.

With a wealth of international experience from the United States, Germany, Singapore, China and Thailand, he is responsible for providing financial leadership and strategic guidance for IHH Healthcare.

IHH Healthcare maintained a 35.60 per cent deemed interest in PLife Reit as of a substantial shareholder filing on Apr 5, 2021.

Prior to joining IHH Healthcare, Ayrle was the group chief financial officer of Thai Union Group and steered the company's financial transformation journey, winning multiple awards including Best CFO Asia by Corporate Treasurer in 2016.

Prior to this role, he had a successful career with tech giants Osram and Siemens.

As of Sep 30, PLife Reit, which primarily invests in healthcare and healthcare-related real estate and real estate-related assets, maintained a total portfolio size of 55 properties.

LY Corporation

On Nov 5, LY Corporation 1H8 founder and executive chairman Tan Kwee Chai acquired 200,000 shares of the company for a consideration of S$49,725 at 13.0 cents per share.

The married deal took his total stake in the manufacturer and exporter of wooden bedroom furniture from 72.89 per cent to 72.97 per cent.

His preceding acquisition of 2,471,800 shares at 16.0 cents per share was on Aug 3, 2021.

Tan, who started furniture making in 1976, has been a director of LY Furniture since its incorporation and is responsible for the group's overall management and operations, including formulating its strategic directions and expansion plans.

With its subsidiaries, LY Corporation is one of Malaysia's leading manufacturers and exporters of wooden bedroom furniture.

This includes the design and manufacture of custom wooden bedroom furniture, and the manufacture of wooden bedroom furniture which may be tailored to customers' specifications and requirements on an original equipment manufacturer basis.

Megachem

On Nov 8, Megachem 5DS managing director Sidney Chew Choon Tee acquired 48,000 shares of the company for a consideration of S$20,400. At 43.0 cents per share, this increased his total interest in the one-stop specialty chemical solutions provider from 35.44 per cent to 35.47 per cent.

Mr Chew's preceding acquisition of 10,000 shares at 42.0 cents per share was on Oct 22, 2021.

Federal International (2000)

On Nov 11, Federal International (2000) BDU executive director Maggie Koh acquired 100,000 shares of the company at 11.5 cents per share.

With a consideration of S$11,500, the acquisition took her direct interest in the integrated service provider and procurement specialist in the O&G and energy industries, from 0.3 per cent to 0.4 per cent.

She oversees the trading business of the group.

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