SGX Market Updates

Tuan Sing CEO and Director Add to Stakes

SGX
Publish date: Mon, 16 Dec 2024, 05:37 PM
Share Buybacks by Primary-listed Companies by way of Market Acquisition (Dec 6 to Dec 12)Number of Shares/Units Purchased Buyback Consideration (incl stamp duties & clearing charges) S$   Avg price paid per share S$
DBS GROUP HOLDINGS 1,100,000$48,158,701$43.78
SINGAPORE TELECOMMUNICATIONS 12,284,949$37,778,674$3.08
SEATRIUM 975,000$1,990,853$2.04
VENTURE CORPORATION 88,900$1,153,087$12.97
SIA ENGINEERING COMPANY 169,300$406,273$2.40
ZHENENG JINJIANG ENVIRONMENT HOLDING COMPANY 629,900$268,899$0.43
GLOBAL INVESTMENTS 1,500,000$180,328$0.12
KSH HOLDINGS 298,400$58,156$0.19
INTRACO 145,500$55,149$0.38
GLOBAL TESTING CORPORATION 48,500$47,650$0.98
TREK 2000 INTERNATIONAL 469,400$34,248$0.07
NORDIC GROUP 78,000$27,350$0.35
INTERRA RESOURCES 653,600$25,850$0.04
17LIVE GROUP 25,000$24,840$0.99
OXLEY HOLDINGS 290,000$21,192$0.07
EVER GLORY UNITED HOLDINGS 51,200$20,016$0.39
SARINE TECHNOLOGIES 40,000$9,113$0.23
CSC HOLDINGS 400,000$4,046$0.01
GHY CULTURE & MEDIA HOLDING CO 10,000$1,508$0.15
Total501,200$90,265,934 

Over the five trading sessions from Dec 6 to Dec 12, institutions were net sellers of Singapore stocks, leading to a net institutional outflow of S$104 million, reversing a quarter of the S$418 million net inflow over the preceding five sessions. 

Stocks that led the net institutional outflow over the five sessions through to Dec 12 were DBS Group Holdings, Capitaland Investment, SATS, Singapore Exchange, Mapletree Industrial Trust, Capitaland Integrated Comm Trust, Genting Singapore, Capitaland Ascendas REIT, Singapore Telecommunications and Mapletree Pan Asia Commercial Trust.

Meanwhile, Oversea-Chinese Banking Corporation, United Overseas Bank, Yangzijiang Shipbuilding Holdings, Keppel, Sembcorp Industries, Singapore Airlines, Keppel DC REIT, Suntec REIT, Seatrium and Mapletree Logistics Trust led the net institutional inflow. 

From a sector perspective, the five sessions saw REITs and Financial Services book the most net institutional outflow, while Industrials and Utilities booked the most net institutional outflow. 

The five sessions also saw 20 primary-listed companies conduct buybacks with a total consideration of S$90.3 million, down from the S$117.2 million in the preceding five sessions. The consideration was again led by DBS Group Holdings which bought back 1.1 million shares at an average price of S$43.78 per share. This brings the total shares repurchased under the current mandate to 0.16 per cent of its issued shares (excluding treasury shares). Zheneng Jinjiang Environment Holding Company bought back 629,900 shares, a similar pace to the 630,000 shares bought back over the preceding five sessions. This saw the leading Waste-To-Energy operator in China increase the total shares repurchased under its current mandate to 0.48 per cent of its issued shares (excluding treasury shares).

The five trading sessions saw more than 50 director interests and substantial shareholdings filed for close to 25 primary-listed stocks. Directors or CEOs filed 22 acquisitions, and four disposals, while substantial shareholders filed seven acquisitions and four disposals. 

Tuan Sing Holdings

Tuan Sing Holdings executive director and CEO William Liem and his sister, non-executive and non-independent director Michelle Liem Mei Fung, increased their deemed interest between Dec 5 and 11. 

The acquired 4,137,300 shares were transacted at an average price of S$0.263 per share, which also saw Nuri Holdings (S) Pte Ltd increasing its substantial shareholding of Tuan Sing Holdings to above 54.00 per cent. Both William Liem and Michelle Liem together hold 100 per cent of the issued shares of Nuri Holdings (S) Pte Ltd.

The Group's property segment focuses on developing properties for sale and investment in Singapore, Australia, Indonesia, and China. It has established a strong reputation in the real estate industry as a developer of high-end residential projects in prime locations. The Group also holds a 44.5 per cent interest in Gul Technologies Singapore Pte Ltd., a printed circuit board manufacturer with manufacturing plants in China.

Mr Liem was first appointed as a Director of Tuan Sing Holdings in January 2004, and became CEO in January 2008, while Mdm Liem was first appointed as Director in April 2001. Mr Liem maintains a 54.28 per cent deemed interest and Mdm Liem maintains a 54.30 per cent deemed interest in Tuan Sing Holdings. 

On Nov 14, Tuan Sing Holdings announced that through its subsidiary Grand Hotel Group, it had submitted a Town Planning Application for a major mixed-use redevelopment of its properties at 121-131 Collins Street and 23-25 George Parade in Melbourne. This project aims to transform the landmark location with modern luxury amenities while preserving its historic character. The redevelopment will revitalise the podium from levels 4 to 9B, introducing a dynamic luxury retail and F&B precinct, and enhancing the streetscape along Collins Street. The site will encompass approximately 84,500 square meters in total Gross Floor Area upon completion. 

ABR Holdings

On Dec 6, ABR Holdings Managing Director Ang Yee Lim acquired 114,000 shares at S$0.41 per share. This increased his direct interest in the homegrown restaurant operator from 53.59 per cent to 53.65 per cent. His preceding acquisitions were between Nov 14, and 20, with 171,700 shares at S$0.40 per share and between Sep 27 and 30, when Mr Ang acquired 140,000 shares at S$0.417 per share. For the year, Mr Ang has gradually increased his interest from 52.12 per cent at the end of 2023. 

He has served as Managing Director since July 2004. ABR Holdings was established in 1979 with Swensen’s at Thomson Plaza, and now operates over 25 restaurant outlets in Singapore. 

In 2014, the Group expanded its business by adding Property as a second core pillar, encompassing residential, commercial, industrial, and hospitality property development, as well as related activities like redevelopment, sales, leasing, management, investment, and other complementary services. The Group maintain that it progresses steadily on Baywind Residences, a joint venture development of 24 apartments in Lorong N Telok Kurau, slated for completion in Q4 2025, highlighting that despite regulatory shifts, all units were successfully sold.

NetLink NBN Trust

On Dec 6, NetLink NBN Management executive director and CEO, Tong Yew Heng, acquired 250,000 units of NetLink NBN Trust at S$0.855 per unit. This increased his direct interest in the business trust from 0.027 percent to 0.033 per cent.  His preceding acquisition was on June 26, with 100,000 units acquired at S$0.825 per share, with the price-to-book ratio of NetLink trading around 1.3 at the time of both the acquisitions. Tong has served as the CEO of the trustee-manager since January 2016, overseeing the trust's leadership and performance. With over 20 years of experience in senior management across various industries, he previously held the position of executive vice-president for corporate and market development at Singapore Technologies Electronics. Before that, he was the CEO of CitySpring Infrastructure Trust.

The NetLink Group's network forms the backbone of Singapore's Nationwide Broadband Network, delivering ultra-high-speed internet across the country. On Nov 4, the NetLink NBN Trust H1 FY2025 results were announced, with the Distribution Per Unit (DPU) of 2.68 Singapore cents increasing 1.1 per cent increase from H1 FY2024. Most of the total returns that NetLink NBN Trust has delivered since listing in July 2017 has been through its semi-annual distributions. 

As of Sep 30, residential connections increased to 1,520,005, non-residential connections to 53,182, Non-Building Address Point (NBAP) connections to 3,011, and segment connections to 3,774. For the current FY, NetLink NBN Management aim to grow the NBAP and segment connections by supporting Smart Nation and cloud-based services, while also enhancing colocation facilities for up to 10 Gbps connections and completing a new Central Office by 2025. Additionally, the Manager is looking to support SME digitalisation, lower connection costs, and execute sustainability initiatives for ongoing emissions reduction.

Wing Tai Holdings

Wing Tai Holdings chairman and managing director Cheng Wai Keung has increased his deemed interest in the company through shares acquired by his spouse, Helen Chow. On December 6, Mr. Cheng's deemed interest in the leading real estate developer and lifestyle retailer rose by 100,000 shares, from 61.63 per cent to 61.64 per cent.

LMS Compliance

Between Dec 9 and 10, LMS Compliance executive director and CEO, Ooi Shu Geok, and executive director and chief development officer, Chong Moi Me, increased their total interest in the Catalist-listed company from 83.83 per cent to 84.01 per cent. The 185,000 shares were acquired at an average price of S$0.352 per share. On Dec 3, LMS Compliance announced through its subsidiary, My CO2 Group Sdn Bhd, a collaboration with the Malaysian Semiconductor Industry Association, Masverse Technologies Sdn Bhd, and CRIF Omesti Sdn Bhd to help Malaysian SMEs achieve ESG compliance and promote sustainability awareness.

Niks Professional

On Dec 5, Niks Professional president and chief medical officer Ong Fung Chin acquired 100,000 shares at an average price of S$0.132 per share.

This increased her total interest in the dermatology and aesthetic medical services provider from 81.90 per cent to 82.00 per cent.

It also raised the deemed interest of chairman and CEO Cheng Shoong Tat, who is Dr Ong’s spouse.

Dr Ong oversees the strategic direction, management, and operations of the family practice's clinics and retail outlets. She also looks to ensure high standards in medical practices and governance, and is responsible for product formulation, testing, and training. She began her medical career in 1985, working in public hospitals and private medical groups. In 1994, she founded Maple Clinic, which became the foundation for the group's development.

Listed on Catalist, Niks Professional is an integrated medical skin care provider in Singapore, offering family practice dermatology, aesthetic medical services, and a range of over 100 skin care products, all under the NIKS brand.

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

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