Source: SGX

Institutions were net sellers of Singapore stocks over the five trading sessions spanning Oct 11 to Oct 17, with S$144 million of net institutional outflow, partially reversing the preceding 10 sessions of S$251 million net inflow. This has brought net institutional flow in the 2024 year to Oct 17, back to a net outflow of S$21 million. 

Leading the net institutional outflow over the five sessions through to Oct 17 were United Overseas Bank, Singapore Telecommunications, Singapore Airlines, Capitaland Ascendas REIT, Keppel, Capitaland Integrated Commercial Trust, Genting Singapore, Seatrium, Mapletree Pan Asia Commercial Trust and Jardine Matheson Holdings. 

Meanwhile, Yangzijiang Shipbuilding, Thai Beverage, Singapore Exchange, Keppel DC REIT, Sembcorp Industries, Hongkong Land Holdings, Sheng Siong Group, iFAST Corporation, Jardine Cycle & Carriage and Singapore Post led the net institutional inflow.

From a sector perspective, the five sessions saw REITs and Industrials book the most net institutional outflow, while the consumer Non-Cyclicals and Utilities Sector booked the most net institutional inflow. 

While iFAST Corporation ranks among the 40 most traded stocks this year it has ranked among the 20 stocks that have booked the most net institutional inflow. The digital banking and wealth management platform will report its 3QFY24 (ended June 30) results on Oct 25. 

The five sessions also saw 14 primary-listed companies conduct buybacks with a total consideration of S$36.6 million, up from S$24.0 million the preceding week. 

CapitaLand Investment bought back 1,909,400 shares at an average price of S$3.00 per share. This brings the total shares repurchased to 1.8 per cent of its issued shares (excluding treasury shares) since the beginning of the current mandate. The leading global real asset manager with a solid foothold in Asia  will provide a 3QFY24 (ended Sep 30) Business Update before the Nov 6 open. 

The five trading sessions saw less director interests and substantial shareholdings filed than the usual quota, with 45 filings for just over 20 primary-listed stocks. Directors or CEOs filed 10 acquisitions, and no disposals, while substantial shareholders filed six acquisitions and five disposals. 

CNMC Goldmine Holdings

On Oct 16, CNMC Goldmine Holdings Executive Chairman Lin Xiang Xiong acquired 2 million shares in a married deal at S$0.18 per share. This increased his direct interest from 0.72 per cent to 1.21 per cent, bringing his total interest to 27.61 per cent. He is also the founder of CNMC Goldmine and father of CEO and Executive Director Chris Lim Kuoh Yang. Professor Lin formulates the Group’s strategic plans and policies, oversees daily mining operations, and seeks sustainable business development and expansion as needed. As CEO, Mr Lim is responsible for implementing the strategic plans and policies as well as managing the mining operations of the Group. 

Headquartered in Singapore and listed on the Catalist Board, CNMC Goldmine started operations in 2006 and is principally engaged in the exploration and mining of gold and the processing of mined ore into gold doré bars. Back in August, CNMC Goldmine Holdings announced that it plans to expand the capacity of its main gold production plant in Kelantan, Malaysia, by 60 per cent. The company noted that it will invest up to RM 9.0 million to increase the processing capacity of its carbon-in-leach plant at the Sokor mine from 500 to 800 tonnes of ore per day. This expansion, funded by internal resources, is expected to be completed by the first half of next year, barring any unforeseen circumstances. As of June 30, 2024, the Company and its subsidiaries had over US$14.7 million (approximately RM65.0 million) in cash and no bank loans.

Travelite Holdings

On Oct 11, Travelite Holdings Executive Chairman Thang Teck Jong acquired 965,000 shares at S$0.15 per share.  This increased his total interest from 60.66 per cent to 61.68 per cent. Mr Thang formulates the Group’s strategic directions and expansion plans. As the founder, he has been instrumental in the growth and development of the Group since its inception in 1986. 

For its FY24 (ended Mar 31), the Group achieved record performance with revenue increasing by 1.4 per cent to S$47.1 million, driven by a strong rebound in international travel and tourism. Gross profit margin improved to 51.5 per cent, while other gains decreased to S$0.5 million due to lower inventory impairment reversals and government grants. Despite these changes, the Group’s profit before tax rose to S$3.8 million, up from S$3.5 million in FY23. 

Looking forward, Mr Thang maintains Travelite Holdings will leverage favorable market conditions in the global travel market by enhancing both its online presence and offline activities, including participation in major luggage events and promotional atrium sales. On the digital front, the Group is collaborating with digital platform partners to offer exclusive deals and promotions, while also enhancing retail presence through new concept stores and boutiques slated for completion in FY25. Additionally, the Group aims to maintain its growth trajectory by exploring new store locations, supporting its secured lending business, and seeking opportunities for acquisitions, joint ventures, and new investments, all while focusing on cost management and production efficiency.

Noel Gifts International 

On Oct 11, Noel Gifts International Managing Director Alfred Wong Siu Hong acquired 62,100 shares at an average price of S$0.37 per share. With a consideration of S$22,667 this increased his total interest from 47.15 per cent to 47.21 per cent. This followed his acquisition of 153,500 shares between Oct 7 and 10, and 128,800 shares at on Sep 24, 163,500 shares on Sep 16 and 302,800 shares between Sep 4 and 5. Mr Wong, the founder of Noel Gifts International, has been its Managing Director since its inception. 

Mr Wong, is the founder of Noel Gifts International and has served as its Managing Director since its inception. Next year marks 50 years since the establishment of Singapore’s leading hampers, flowers and gifts company. He oversees the Group’s strategic planning, overall financial management, and growth. Since 1997, he has also led the property division, managing property investment and development. 

Mr Wong relayed last week that as the Group enters a new chapter in its journey it is focused on leveraging its strengths, adapting to market changes, and seizing growth opportunities. The past 12 months have seen Noel Gifts International implement new marketing and sales strategies to enhance customer engagement and loyalty, driving sales growth. The Group introduced a ‘Members’ Benefits’ program on its website, partnering with select merchants to offer exclusive savings, rewards, and benefits to its online customers. These privileges are designed to attract customers to join Noel Gifts’ membership, creating mutual benefits in the current era of evolving customer sentiments and spending habits. The Group also introduced the ‘Birthday Insider’ program, allowing customers to record important birthdays. One month before each birthday, customers receive an email with gift suggestions, providing a helpful reminder and thoughtful gifting options. This program helps customers track upcoming birthdays through their profile page, ensuring they never miss an opportunity to give a gift.

LMS Compliance 

Between Oct 9 and 10, executive director and CEO, Ooi Shu Geok, and executive director and chief development officer, Chong Moi Me increased their deemed interests, with 170,000 shares acquired at an average price of S$0.365 per share. This increased the aggregate deemed interest of executive director and CEO, Ooi Shu Geok, and executive director and chief development officer, Chong Moi Me, in the Catalist-listed company from 83.67 per cent to 83.83 per cent. Both Dr Ooi and Chong are deemed interested in all the shares of the company held by Louis May and Fitcorp Value.

Based in Malaysia, LMS Compliance has over 15 years of experience in laboratory testing and certification services, including testing and assessment, certification, trading, distribution of conformity assessment technology, and assurance, validation, and verification. The company operates three accredited laboratories and offers a range of services such as chemical and microbiology analyses, ISO certification audits, and the distribution of analytical instruments and testing equipment. Recently, LMS Compliance launched an Assurance, Validation & Verification segment to provide ESG data collection and reporting services.

For its 1HFY24 (ended June 30), LMS Compliance reported its net profit increased by 3.8 per cent from 1HFY23, to RM 2.74 million. Excluding the impact of its listing expenses in FY22, LMS Compliance has steadily and consistently grown its net profit from FY19. Dr Ooi noted back in August that the Group achieved double-digit revenue growth in 1HFY24, driven by strong demand for the laboratory testing services. Moving forward, Dr Ooi relayed the Group will focus on optimising costs, strengthening customer relationships, and leveraging digitalisation and technology to streamline processes and enhance operational efficiency. 

Inside Insights is a weekly column on The Business Times, read the original version.

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