INSIDE INSIGHTS

Yanlord chair raises stake; 15 companies conduct buybacks

Published Mon, Aug 30, 2021 · 05:50 AM

FOR the five trading sessions that spanned Aug 20 to 26, the Straits Times Index (STI) gained 0.7 per cent, with the FTSE China A50 Index, Hang Seng Index and FTSE Bursa Malaysia KLCI averaging a 0.3 per cent gain.

Within the STI, DBS D05 , CapitaLand C31 , Yangzijiang Shipbuilding Holdings BS6 , UOB U11 and Singapore Telecommunications Z74 : Z74 0% received the highest net institutional inflows from Aug 20 to 26.

The four latter stocks also received the highest net institutional inflows from Aug 6 to 19.

Outside the STI, Nanofilm International Technologies MZH , Singapore Press Holdings T39 , Sembcorp Marine S51 , Aims Apac Reit O5RU and Ara Logos Logistics Trust K2LU : K2LU 0% received the highest net institutional inflows.

Overall, institutions were net buyers over the five sessions, with S$120 million of net inflow, while OCBC O39 , Singapore Exchange S68 and Singapore Technologies Engineering S63 : S63 0% recorded the highest net institutional outflow.

Share buybacks

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

VIEW ALL

There were 15 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$31.0 million.

OCBC led the tally, buying back 1.6 million shares at an average price of S$11.70 per share, while UOB bought back 288,000 shares at an average price of S$26.06 per share.

Director and substantial shareholder transactions

The five trading sessions saw close to 120 changes in director interests and substantial shareholdings filed for close to 40 primary-listed stocks.

This included 17 company director acquisitions with six disposals filed, while substantial shareholders filed nine acquisitions and 10 disposals

Yanlord Land Group

Between Aug 17 and 19, Yanlord Land Group Z25 : Z25 0% founder, chairman and chief executive officer Zhong Sheng Jian acquired 6,991,400 shares of the listed company for a consideration of S$8,170,015.

At an average price of S$1.17 per share, this took his direct holdings in the company from 5.01 per cent to 5.37 per cent.

Mr Zhong also maintains a 66.19 per cent deemed interest in Yanlord Land Group through his 95 per cent ownership of Yanlord Holdings, with his spouse owning the remaining 5 per cent of the holding company.

The acquisition took his total interest in Yanlord Land Group to 71.55 per cent.

This followed similar sized acquisitions between April 30 and May 4, with 7,067,500 shares acquired at an average price of S$1.34 per share; and between March 18 and 22, with 7,116,600 shares acquired at an average price of S$1.19.

Mr Zhong is responsible for the overall management and strategy development of Yanlord Land Group.

Since the 1980s, he has founded and established a number of businesses in trading, manufacturing and real estate spanning China, Singapore and Hong Kong.

Mr Zhong started property development businesses in the early 1990s through the setting up of offices in Shanghai and Nanjing, which are now part of Yanlord Land Group.

On Aug 12, Yanlord Land Group reported its H1FY21 (ended June 30) revenue increased by 44.7 per cent from H1FY20 to 13.19 billion yuan (S$2.7 billion).

This was primarily attributable to the increase in gross floor area delivered to customers, which partly offset by the decrease in average selling price per square metre achieved by the group in H1FY21 compared to H1FY20.

With the results, Mr Zhong noted that given the backdrop of strong economic recovery across China during the reporting period, Yanlord's development strategy of focusing on building premium developments in high-growth economic regions and cities within the country had continued to deliver business growth.

A-Sonic Aerospace

On Aug 26, A-Sonic Aerospace BTJ : BTJ 0% chief executive officer Janet LC Tan acquired 1,028,236 shares of the company for a consideration of S$822,589, at 80.0 cents per share, in addition to 257,057 warrants at 72.0 cents per warrant.

The married deal took her total interest in the company from 55.45 per cent to 57.21 per cent.

Ms Tan has gradually increased her total interest in A-Sonic Aerospace from 53.35 per cent at the end of 2018.

Ms Tan's responsibilities include setting the overall long-term business direction, developing business strategies, and implementing growth strategies for A-Sonic Aerospace and its subsidiaries.

In its quarterly update filed on Aug13, the company maintained that it remained on the SGX watch-list solely because it had not achieved an average daily market capitalisation of S$40 million.

For its H1FY21 (ended June 30), A-Sonic Aerospace reported an improvement of US$3.49 million in operating profit to US$3.36 million, compared to an operating loss of US$0.14 million in H1FY20.

GSS Energy

On Aug 20, GSS Energy 41F : 41F 0% non-independent and non-executive director Glenn Fung Kau Lee acquired 5 million shares of the Catalist-listed company for a consideration of S$340,650.

At an average price of 6.8 cents per share, the acquisition increased his deemed interest in the integrated contract manufacturer from 13.42 per cent to 14.43 per cent.

Mr Fung has over 30 years of working experience in the financial industry in Canada, New York, Korea and Hong Kong.

He also serves as the managing director and chief executive officer of N-Bridge Capital Group, an infrastructure investment firm focused on Asia infrastructure investments.

On Aug 19, GSS Energy entered into a subscription agreement with multiple persons to subscribe for a total 83,333,300 new ordinary shares in the capital of company, amounting to an aggregate gross consideration of S$4,999,998.

On Aug 13, the group reported H1FY21 (ended June 30) revenue of S$58.55 million, an increase of 36.3 per cent from H1FY20.

Medtecs International Corporation

On Aug 20, Medtecs International 546 : 546 0% Corporation deputy chairman, executive director and chief executive officer William Yang Weiyuan acquired 500,000 shares of the Catalist-listed company for a consideration of S$286,789 at an average price of 57.4 cents per share.

This took his deemed interest in the supplier and distributor of personal protective equipment (PPE) and provider of logistics services to healthcare institutions, from 0.46 per cent to 0.55 per cent.

Mr Yang's preceding acquisitions included 500,000 shares at 84.1 cents per share on June 24; 500,000 shares at 95.8 cents per share on May 12, and 500,000 shares at S$1.05 per share on Dec 22, 2020.

Mr Yang has been the general manager of wholly owned subsidiaries, Medtecs (Taiwan) Corporation since July 1, 2010 and Hangzhou Jincheng Medical Supplies and Manufacture since 2008.

On Aug 13, Medtecs reported that its H1FY21 (ended June 30) group revenue decreased by 47.5 per cent to US$85.3 million, from US$162.6 million in H1FY20.

This was due to reduced PPE demand in H1FY21 from customers that had already stocked up in FY20, resulting in more stable market prices and supply chains.

Mr Yang noted that the results came on the back of a record-breaking year in terms of revenue and profitability in FY20 and that the company will continue to work with partners which possess health-related expertise and supply chain resilience to expand its global sales channels and sourcing ability.

He added that the company would also push forward with its strategy to build awareness of its brand both online and offline, and seek stockpiling partnership opportunities in key regions around the world.

GHY Culture & Media

Between Aug 20 and 25, GHY Culture & Media XJB : XJB 0% executive chairman and group chief executive officer Guo Jingyu acquired 200,900 shares of the company for a consideration of S$123,593 at an average price of 61.5 cents per share.

He has gradually increased his total interest in the company from 59.0 per cent prior to Dec 28, 2020 to 60.0 per cent as of Aug 25.

Bonvests Holdings

Between Aug 19 and 25, Bonvests Holdings B28 : B28 0% executive chairman and managing director Henry Ngo acquired 97,200 shares of the company for a consideration of S$92,340.

At 95.0 cents per share, this increased his total interest in Bonvests Holdings from 83.49 per cent to 83.52 per cent.

Mr Ngo's preceding acquisitions included 18,300 shares at 94.9 cents per share between Aug 11 and 12, 422,000 shares at S$1.00 per share on May 3, 16,000 shares at 91.0 cents per share on March 23, and 28,900 shares at 91.0 cents per share on March 2.

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

On Aug 5, Bonvests Holdings reported that its H1FY21 (ended June 30) group revenue at S$59.94 million decreased by 14.5 per cent from S$70.10 million in H1FY20.

The company also noted that the property development division obtained development approval for properties in Perth, Australia and is in the initial planning stages of development.

GSH Corporation

On Aug 25, GSH Corporation BDX : BDX 0% executive chairman Sam Goi Seng Hui acquired 100,000 shares of the company for a consideration of S$16,800.

At 16.8 cents per share, this increased his total interest in the property developer, hotel and resort operator from 60.08 per cent to 60.09 per cent.

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

Enviro-Hub Holdings

Between Aug 23 and 24, Enviro-Hub Holdings L23 : L23 0% executive chairman Raymond Ng acquired 400,000 shares of the environmental management solutions group for a consideration of S$29,800 at 7.5 cents per share.

This took his total stake in the stock from 34.70 per cent to 34.73 per cent.

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

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

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

STOCKS

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here