SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares at an average price of S$12.67 per share, followed by Olam Group, which bought back 7 million shares at an average price of S$1.08 per share.</li><li>Between Sep 13 and Sep 15, QAF joint group managing director and executive director Lin Kejian acquired 945,600 shares at an average price of S$0.824 per share.</li></ul>

Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares at an average price of S$12.67 per share, followed by Olam Group, which bought back 7 million shares at an average price of S$1.08 per share.Between Sep 13 and Sep 15, QAF joint group managing director and executive director Lin Kejian acquired 945,600 shares at an average price of S$0.824 per share.

Wilmar’s Chairman Kuok & QAF MD Lin Kejian Continue to Build Interests

<ul><li>Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.</li><li>This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.</li></ul>

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.

Vibrant activity among top traded stocks on SGX

<ul><li>The iEdge SG Advanced Manufacturing Index is comprised of 110 stocks that drew 20 cents in every dollar that went to work into the Singapore stock market in 1Q23.</li><li>The Index constituents that booked the highest net institutional inflow proportionate to quarter-end market cap in 1Q23 included Acesian Partners, ISDN and Frencken, while averaging a 28% total return.</li><li>The iEdge SG Advanced Manufacturing Index booked S$52 million of Net Institutional Inflow in 1Q23.</li></ul>

The iEdge SG Advanced Manufacturing Index is comprised of 110 stocks that drew 20 cents in every dollar that went to work into the Singapore stock market in 1Q23.The Index constituents that booked the highest net institutional inflow proportionate to quarter-end market cap in 1Q23 included Acesian Partners, ISDN and Frencken, while averaging a 28% total return.The iEdge SG Advanced Manufacturing Index booked S$52 million of Net Institutional Inflow in 1Q23.

Mixed Moves of Manufacturing Stocks in 1Q23 

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<h3 class="text-h3">#whatstrending feat. Beansprout</h3>

Ever wondered what is currently driving the local and regional markets? #whatstrending is a new series addressing some of the most trending questions/topics on the markets for investors. Designed to be educational, expect to get factual information on what is driving sectors and stocks listed on SGX, featuring insights from professionals in the community.

 

Today, we hear more from Beansprout, Singapore’s next-gen investment research and advisory platform. Gerald Wong, founder and CEO, shares his thoughts on market developments.

 

Q: STI reached near 3,200 levels which was not seen since mid-June. What drove the local market last week?

From Gerald, founder and CEO of Beansprout:

Best performing market in Asia Pacific YTD. Last week, the STI gained 2.7% and broke above its recent five-week consolidation. This makes Singapore the best-performing market in Asia Pacific year-to-date with a total return of 4.0%.

Which stocks were trending? According to SGX fund flow data, retail investors were net buyers of Thai Beverage (+$14.7m), Yangzijiang Financial (+$13.1m), and Wilmar International (+$10.8m). On the other hand, institutional investors were net buyers of UOB (+$26.0m), DBS (+$25.0m), and SIA (+$18.5m).

Acceleration in property price increases. Urban Redevelopment Authority (URA) data showed 2Q22 private home prices growing 3.5% (five times the +0.7% in 1Q22), higher than the prior estimate of +3.2%. The strength in the property market was supported by a sharp turnaround in private home prices in the city fringe. Share prices of Singapore property developers reacted positively, with City Developments +2.8%, UOL Group +2.4%, and GuocoLand +1.3%.

Tourist arrivals hit post-pandemic high. There’s good news for Singapore’s tourism industry as tourist arrivals in June reached a new record since the beginning of the Covid-19 pandemic. According to data from the Singapore Tourism Board (STB), 543,732 visitors arrived in Singapore in June, an increase from the 418,458 recorded in May. The share prices of tourism-related stocks rose from the improvement in sentiment. SIA’s share price +3.3%, CDL Hospitality Trusts +4.8%, and Ascott Residence Trust +1.8%.
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 <img src='https://api2.sgx.com/sites/default/files/2022-07/chart%201.PNG' alt='Singapore's tourist arrivals recovering' />
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 <div class='content-caption'>Singapore's tourist arrivals recovering</div>
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Q: Amidst the ongoing earnings season, what were some of the notable company news and announcements last week?

From Gerald, founder and CEO of Beansprout:

There’s never a dull moment in the Singapore market. Last week, we saw notable news on Genting Singapore, Sembcorp Industries, and Mapletree Logistics Trust.

Genting Singapore gets a boost from Las Vegas Sands (LVS). Genting has been in the news a lot recently, but the most recent pop in its share price came through from strong results reported by its peer LVS. Marina Bay Sands saw its 2Q22 EBITDA (earnings before interest, taxes, depreciation and amortisation) almost triple from the previous year, prompting increasing optimism about the recovery of integrated resorts in Singapore.

Sembcorp Industries generated higher profit from increase in electricity prices. Sembcorp Industries issued a positive profit guidance, expecting its earnings for 1H22 to be “materially higher” compared to the previous year. The company attributed the improvement in earnings to higher electricity prices in Singapore and India.
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 <img src='https://api2.sgx.com/sites/default/files/2022-07/chart%202.PNG' alt='Singapore's electricity prices rose in 1H22' />
 </figure>
 <div class='content-caption'>Singapore's electricity prices rose in 1H22</div>
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Mapletree Logistics Trust (MLT) saw stronger regional contribution. MLT reported 1Q23 (1 Apr 2022 to 31 Jun 2022) distribution per unit (DPU) that grew 5% compared to the previous year. Better portfolio performance in Singapore, India, Vietnam, and Japan led to stronger rental reversion of +3.4% in 1Q23, compared to +2.9% in 4Q22.

 

Many Singapore-listed companies will be reporting their earnings this week. Do check out the SGX economic calendar. 
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<figure>
 <img src='https://api2.sgx.com/sites/default/files/2022-07/25Jul2022_EarningsSchedule.jpg' alt='Economic calendar' />
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 <div class='content-caption'>Economic calendar</div>
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<html><body>For more Beansprout’s Fresh Takes, visit growbeansprout.com.</body></html>



#whatstrending feat. Beansprout

Ever wondered what is currently driving the local and regional markets? #whatstrending is a new series addressing some of the most trending questions/topics on the markets for investors. Designed to be educational, expect to get factual information on what is driving sectors and stocks listed on SGX, featuring insights from professionals in the community.

 

Today, we hear more from Beansprout, Singapore’s next-gen investment research and advisory platform. Gerald Wong, founder and CEO, shares his thoughts on market developments.

 

Q: STI reached near 3,200 levels which was not seen since mid-June. What drove the local market last week?

From Gerald, founder and CEO of Beansprout:

Best performing market in Asia Pacific YTD. Last week, the STI gained 2.7% and broke above its recent five-week consolidation. This makes Singapore the best-performing market in Asia Pacific year-to-date with a total return of 4.0%.

Which stocks were trending? According to SGX fund flow data, retail investors were net buyers of Thai Beverage (+$14.7m), Yangzijiang Financial (+$13.1m), and Wilmar International (+$10.8m). On the other hand, institutional investors were net buyers of UOB (+$26.0m), DBS (+$25.0m), and SIA (+$18.5m).

Acceleration in property price increases. Urban Redevelopment Authority (URA) data showed 2Q22 private home prices growing 3.5% (five times the +0.7% in 1Q22), higher than the prior estimate of +3.2%. The strength in the property market was supported by a sharp turnaround in private home prices in the city fringe. Share prices of Singapore property developers reacted positively, with City Developments +2.8%, UOL Group +2.4%, and GuocoLand +1.3%.

Tourist arrivals hit post-pandemic high. There’s good news for Singapore’s tourism industry as tourist arrivals in June reached a new record since the beginning of the Covid-19 pandemic. According to data from the Singapore Tourism Board (STB), 543,732 visitors arrived in Singapore in June, an increase from the 418,458 recorded in May. The share prices of tourism-related stocks rose from the improvement in sentiment. SIA’s share price +3.3%, CDL Hospitality Trusts +4.8%, and Ascott Residence Trust +1.8%.



      
    
    Singapore's tourist arrivals recovering


Q: Amidst the ongoing earnings season, what were some of the notable company news and announcements last week?

From Gerald, founder and CEO of Beansprout:

There’s never a dull moment in the Singapore market. Last week, we saw notable news on Genting Singapore, Sembcorp Industries, and Mapletree Logistics Trust.

Genting Singapore gets a boost from Las Vegas Sands (LVS). Genting has been in the news a lot recently, but the most recent pop in its share price came through from strong results reported by its peer LVS. Marina Bay Sands saw its 2Q22 EBITDA (earnings before interest, taxes, depreciation and amortisation) almost triple from the previous year, prompting increasing optimism about the recovery of integrated resorts in Singapore.

Sembcorp Industries generated higher profit from increase in electricity prices. Sembcorp Industries issued a positive profit guidance, expecting its earnings for 1H22 to be “materially higher” compared to the previous year. The company attributed the improvement in earnings to higher electricity prices in Singapore and India.



      
    
    Singapore's electricity prices rose in 1H22


Mapletree Logistics Trust (MLT) saw stronger regional contribution. MLT reported 1Q23 (1 Apr 2022 to 31 Jun 2022) distribution per unit (DPU) that grew 5% compared to the previous year. Better portfolio performance in Singapore, India, Vietnam, and Japan led to stronger rental reversion of +3.4% in 1Q23, compared to +2.9% in 4Q22.

 

Many Singapore-listed companies will be reporting their earnings this week. Do check out the SGX economic calendar. 



      
    
    Economic calendar

For more Beansprout’s Fresh Takes, visit growbeansprout.com.


What's Trending - Property prices, Tourism recovery, Earnings

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 <img src='https://api2.sgx.com/sites/default/files/2022-06/Share%20Buybacks.PNG' alt='Share Buybacks' />
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 <div class='content-caption'>Share Buybacks</div>
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FOR the 5 trading sessions that spanned Jun 10 to 16, the Straits Times Index (STI) declined 3.5 per cent, with the FTSE China A50 Index gaining 1.2 per cent, the Hang Seng Index falling 4.5 per cent and the FTSE Bursa Malaysia KLCI sliding 2.2 per cent. 

 
Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$166 million of net outflow, following the S$52 million of net outflow for the preceding 5 sessions. UOB, OCBC, Singapore Airlines, Thai Beverage and Keppel DC Reit led the net institutional outflows for the 5 sessions through to Jun 16.

 Share buybacks

 
There were 26 primary-listed stocks conducting share buybacks over the 5 sessions ended Jun 16, with a total consideration of S$122.8 million, more than doubling the previous week’s consideration tally. Wilmar International and Keppel Corporation led the consideration tally, buying back shares at average prices of S$4.08, and S$6.75 respectively.

 

Director and substantial shareholder transactions

 
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for close to 50 primary-listed stocks. This included 19 company director acquisitions with 2 disposals filed, while substantial shareholders filed 15 acquisitions and 12 disposals.

 

AEM Holdings

 
The Employees Provident Fund Board’s (EPF) deemed interest in AEM Holdings (AEM) has once again crossed above the 5.00 per cent substantial shareholder threshold.  The EPF had reduced its deemed interest in AEM below the 5.00 per cent threshold on Feb 4 to 4.87 per cent when it sold some shares, but on Jun 9, it bought shares again and raised its deemed interest to 5.05 per cent.  EPF’s latest purchase of 550,000 shares at S$4.39 per share, is at a lower average price than the S$4.53 per share it had received when it sold shares and reduced its deemed interest in AEM to below the substantial shareholder threshold in February.

 

On Jun 16, AEM announced that it would create more than 300 additional jobs with the expansion of its Singapore, Malaysian and US operations. AEM’s Penang expansion will include an R&amp;D lab that will enable it to boost its R&amp;D capabilities, while it will also double its headcount in Malaysia to support the expansion, including new roles for technicians, engineers, customer support group, and supply chain management. AEM is also a Gold Sponsor and the sole sponsor of the SEMICON University Program at SEMICON SEA 2022, scheduled this week in Penang.

 

Separately, with effect from Jul 1, Andre Andonian will join the board of AEM as an independent director. At McKinsey &amp; Company, Andonian serves as a member of the global board, senior partner for the Singapore office, chairman of Japan and the managing partner for Korea. Back on May 5, AEM reported its highest quarterly revenue in its history at S$261.9 million for Q1 2022 (ended Mar 31), a 226.4 per cent year-on-year increase, while upwardly revising its FY22 revenue guidance to between S$700 million and S$750 million.

 

Mapletree Industrial Trust 

 
Between Jun 10 and 13, Mapletree Industrial Trust Management non-executive director Chua Tiow Chye acquired 250,000 units of Mapletree Industrial Trust (MIT) at an average price of S$2.49 per unit.

 
With a consideration of S$621,382, this increased his deemed interest from 0.05 per cent to 0.06 per cent. It followed his acquisition of 200,000 units at S$2.49 per unit on Feb 7 and 200,000 units at S$2.60 per unit on Jan 26.

 
Chua is also the deputy group CEO of Mapletree Investments, the sponsor of MIT. He focuses on driving the sponsor’s strategic initiatives including expanding and directing the sponsor’s international real estate investments and developments. He also directly oversees the sponsor’s global lodging sector as well as the private capital management function.

 
For the FY22 (ended Mar 31), MIT reported its gross revenue and net property income increased 36.4 per cent and 34.5 per cent year on year to S$610.1 million and S$472.0 million respectively. MIT owns 141 properties, comprising 85 properties in Singapore and 56 properties in North America, which includes 13 data centres in North America held through the joint venture with the sponsor.

 Uni-Asia Group

 
On Jun 13, Uni-Asia Group executive chairman Michio Tanamoto acquired 150,000 shares of the company for a consideration of S$156,000. At an average price of S$1.04 per share, this increased his total interest in the company from 3.24 per cent to 3.44 per cent. This closely followed his acquisition of 50,000 shares at S$1.09 per share on Jun 9. Tanamoto was appointed the executive chairman of Uni-Asia Group in April 2020.

 The Straits Trading Company

 
On Jun 13, The Straits Trading Company independent and non-executive director Tan Tiong Cheng acquired 30,000 shares of the company for a consideration of S$90,300, at an average price of S$3.01 per share. This increased his direct interest in the conglomerate-investment company from 0.03 per cent to 0.04 per cent. He is also an independent and non-executive director of UOL Group, the lead independent director of Heeton Holdings, and a non-executive independent director of Amara Holdings.

 
The same session also saw Straits Trading Company independent and non-executive director Chua Tian Chu acquire 7,000 shares of the company at S$3.00 per share.

 
Chua last acquired shares in the company in March, and both directors acquired shares in the company in January. 

 GKE Corporation

 
On Jun 15, GKE Corporation executive director and CEO Neo Cheow Hui acquired 500,000 shares of the company, for a consideration of S$52,000 at 10.4 cents per share. This increased his total interest in the provider of integrated warehousing and logistics solutions from 3.60 per cent to 3.67 per cent.

 
Neo has extensive experience in the warehousing and logistics industry which has played a pivotal role in developing high level strategies for the group and making major corporate investments over the last 20 years.

 Hong Fok Corporation

 
On Jun 10, Hong Fok Corporation executive director and joint CEO Cheong Sim Eng acquired 43,000 shares of the company, for a consideration of S$41,925 at 98.0 cents per share. Cheong maintains a 20.27 total interest in the property developer.

 
He is principally involved in the group’s overall operations and management, with greater emphasis in Singapore and he has over 37 years of experience in the property development business.

 Grand Venture Technology

 
Between Jun 13 and 15, Grand Venture Technology executive chairman Ricky Lee Tiam Nam acquired 50,000 shares of the company at an average price of 76.8 cents per share. With a consideration of S$38,375, this increased his direct interest in the innovative precision manufacturer from 15.33 per cent to 15.34 per cent. 

 
Responsible for the overall strategic direction and development of the group, Lee was one of the founding directors of the company.

 
He has over 38 years of experience in the manufacturing, assembly/servicing and precision engineering industries, beginning his career in 1982 as a machinist in Pan-World Precision Engineering.

 
On Jun 15, GVT executive director and CEO Julian Ng Wai Yuen also acquired 10,000 shares at an average price of 76.5 cents per share. This increased his direct interest in the company from 3.54 per cent to 3.55 per cent. Ng has more than 20 years of experience in the manufacturing and precision engineering industries.

 
In early May, GVT reported 19.5 per cent year-on-year growth in Ebitda and 8.9 per cent growth in net profit after tax for Q1 FY2022 (ended Mar 31), on the back of a 41.0 per cent revenue increase from S$23.0 million in Q1 FY2021 to S$32.5 million in Q1 FY2022.

 
Lee noted with the results that robust demand from the semiconductor industry saw GVT make good progress in its discussions with potential customers engaged in the manufacture of metrology and inspection, etching, and wafer deposition equipment. Lee added that when fully onboarded, these customers are expected to be the key drivers for the front-end semiconductor activities of GVT in the near future. In Q1 FY2022, the semiconductor sector contributed 67.2 per cent to the group’s total revenue, comparable with the 71.1 per cent contribution in FY21 and 68.7 per cent contribution in 2020.

 Oxley Holdings

 
Between Jun 14 and 15, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at 17.1 cents per share.

 
Low maintains a 28.13 per cent direct interest in the firm and is responsible for the operation of the group including sales and marketing, project development, business development and financial management. He also assists the CEO in charting and executing strategic plans.

 Inside Insights is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/buybacks-surge-mapletrees-chua-tiow-chye-adds-to-mit-stake"> read </a>the original version.
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    Share Buybacks


FOR the 5 trading sessions that spanned Jun 10 to 16, the Straits Times Index (STI) declined 3.5 per cent, with the FTSE China A50 Index gaining 1.2 per cent, the Hang Seng Index falling 4.5 per cent and the FTSE Bursa Malaysia KLCI sliding 2.2 per cent. 

 
Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$166 million of net outflow, following the S$52 million of net outflow for the preceding 5 sessions. UOB, OCBC, Singapore Airlines, Thai Beverage and Keppel DC Reit led the net institutional outflows for the 5 sessions through to Jun 16.

 Share buybacks

 
There were 26 primary-listed stocks conducting share buybacks over the 5 sessions ended Jun 16, with a total consideration of S$122.8 million, more than doubling the previous week’s consideration tally. Wilmar International and Keppel Corporation led the consideration tally, buying back shares at average prices of S$4.08, and S$6.75 respectively.

 

Director and substantial shareholder transactions

 
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for close to 50 primary-listed stocks. This included 19 company director acquisitions with 2 disposals filed, while substantial shareholders filed 15 acquisitions and 12 disposals.

 

AEM Holdings

 
The Employees Provident Fund Board’s (EPF) deemed interest in AEM Holdings (AEM) has once again crossed above the 5.00 per cent substantial shareholder threshold.  The EPF had reduced its deemed interest in AEM below the 5.00 per cent threshold on Feb 4 to 4.87 per cent when it sold some shares, but on Jun 9, it bought shares again and raised its deemed interest to 5.05 per cent.  EPF’s latest purchase of 550,000 shares at S$4.39 per share, is at a lower average price than the S$4.53 per share it had received when it sold shares and reduced its deemed interest in AEM to below the substantial shareholder threshold in February.

 

On Jun 16, AEM announced that it would create more than 300 additional jobs with the expansion of its Singapore, Malaysian and US operations. AEM’s Penang expansion will include an R&amp;D lab that will enable it to boost its R&amp;D capabilities, while it will also double its headcount in Malaysia to support the expansion, including new roles for technicians, engineers, customer support group, and supply chain management. AEM is also a Gold Sponsor and the sole sponsor of the SEMICON University Program at SEMICON SEA 2022, scheduled this week in Penang.

 

Separately, with effect from Jul 1, Andre Andonian will join the board of AEM as an independent director. At McKinsey &amp; Company, Andonian serves as a member of the global board, senior partner for the Singapore office, chairman of Japan and the managing partner for Korea. Back on May 5, AEM reported its highest quarterly revenue in its history at S$261.9 million for Q1 2022 (ended Mar 31), a 226.4 per cent year-on-year increase, while upwardly revising its FY22 revenue guidance to between S$700 million and S$750 million.

 

Mapletree Industrial Trust 

 
Between Jun 10 and 13, Mapletree Industrial Trust Management non-executive director Chua Tiow Chye acquired 250,000 units of Mapletree Industrial Trust (MIT) at an average price of S$2.49 per unit.

 
With a consideration of S$621,382, this increased his deemed interest from 0.05 per cent to 0.06 per cent. It followed his acquisition of 200,000 units at S$2.49 per unit on Feb 7 and 200,000 units at S$2.60 per unit on Jan 26.

 
Chua is also the deputy group CEO of Mapletree Investments, the sponsor of MIT. He focuses on driving the sponsor’s strategic initiatives including expanding and directing the sponsor’s international real estate investments and developments. He also directly oversees the sponsor’s global lodging sector as well as the private capital management function.

 
For the FY22 (ended Mar 31), MIT reported its gross revenue and net property income increased 36.4 per cent and 34.5 per cent year on year to S$610.1 million and S$472.0 million respectively. MIT owns 141 properties, comprising 85 properties in Singapore and 56 properties in North America, which includes 13 data centres in North America held through the joint venture with the sponsor.

 Uni-Asia Group

 
On Jun 13, Uni-Asia Group executive chairman Michio Tanamoto acquired 150,000 shares of the company for a consideration of S$156,000. At an average price of S$1.04 per share, this increased his total interest in the company from 3.24 per cent to 3.44 per cent. This closely followed his acquisition of 50,000 shares at S$1.09 per share on Jun 9. Tanamoto was appointed the executive chairman of Uni-Asia Group in April 2020.

 The Straits Trading Company

 
On Jun 13, The Straits Trading Company independent and non-executive director Tan Tiong Cheng acquired 30,000 shares of the company for a consideration of S$90,300, at an average price of S$3.01 per share. This increased his direct interest in the conglomerate-investment company from 0.03 per cent to 0.04 per cent. He is also an independent and non-executive director of UOL Group, the lead independent director of Heeton Holdings, and a non-executive independent director of Amara Holdings.

 
The same session also saw Straits Trading Company independent and non-executive director Chua Tian Chu acquire 7,000 shares of the company at S$3.00 per share.

 
Chua last acquired shares in the company in March, and both directors acquired shares in the company in January. 

 GKE Corporation

 
On Jun 15, GKE Corporation executive director and CEO Neo Cheow Hui acquired 500,000 shares of the company, for a consideration of S$52,000 at 10.4 cents per share. This increased his total interest in the provider of integrated warehousing and logistics solutions from 3.60 per cent to 3.67 per cent.

 
Neo has extensive experience in the warehousing and logistics industry which has played a pivotal role in developing high level strategies for the group and making major corporate investments over the last 20 years.

 Hong Fok Corporation

 
On Jun 10, Hong Fok Corporation executive director and joint CEO Cheong Sim Eng acquired 43,000 shares of the company, for a consideration of S$41,925 at 98.0 cents per share. Cheong maintains a 20.27 total interest in the property developer.

 
He is principally involved in the group’s overall operations and management, with greater emphasis in Singapore and he has over 37 years of experience in the property development business.

 Grand Venture Technology

 
Between Jun 13 and 15, Grand Venture Technology executive chairman Ricky Lee Tiam Nam acquired 50,000 shares of the company at an average price of 76.8 cents per share. With a consideration of S$38,375, this increased his direct interest in the innovative precision manufacturer from 15.33 per cent to 15.34 per cent. 

 
Responsible for the overall strategic direction and development of the group, Lee was one of the founding directors of the company.

 
He has over 38 years of experience in the manufacturing, assembly/servicing and precision engineering industries, beginning his career in 1982 as a machinist in Pan-World Precision Engineering.

 
On Jun 15, GVT executive director and CEO Julian Ng Wai Yuen also acquired 10,000 shares at an average price of 76.5 cents per share. This increased his direct interest in the company from 3.54 per cent to 3.55 per cent. Ng has more than 20 years of experience in the manufacturing and precision engineering industries.

 
In early May, GVT reported 19.5 per cent year-on-year growth in Ebitda and 8.9 per cent growth in net profit after tax for Q1 FY2022 (ended Mar 31), on the back of a 41.0 per cent revenue increase from S$23.0 million in Q1 FY2021 to S$32.5 million in Q1 FY2022.

 
Lee noted with the results that robust demand from the semiconductor industry saw GVT make good progress in its discussions with potential customers engaged in the manufacture of metrology and inspection, etching, and wafer deposition equipment. Lee added that when fully onboarded, these customers are expected to be the key drivers for the front-end semiconductor activities of GVT in the near future. In Q1 FY2022, the semiconductor sector contributed 67.2 per cent to the group’s total revenue, comparable with the 71.1 per cent contribution in FY21 and 68.7 per cent contribution in 2020.

 Oxley Holdings

 
Between Jun 14 and 15, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at 17.1 cents per share.

 
Low maintains a 28.13 per cent direct interest in the firm and is responsible for the operation of the group including sales and marketing, project development, business development and financial management. He also assists the CEO in charting and executing strategic plans.

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



Buybacks surge, Mapletree’s Chua Tiow Chye adds to MIT stake

Singapore

Thai Beverage Public Company Limited produces a wide range of branded beer and spirits in Thailand.

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Thai Beverage (THBEV SP)

Wilmar’s Chairman Kuok & QAF MD Lin Kejian Continue to Build Interests

Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares...

Singapore Exchange Ltd (SGX)

Vibrant activity among top traded stocks on SGX

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered...

Singapore Exchange Ltd (SGX)

Mixed Moves of Manufacturing Stocks in 1Q23

The iEdge SG Advanced Manufacturing Index is comprised of 110 stocks that drew 20 cents in every dollar that went to work into the Singapore stock...

Singapore Exchange Ltd (SGX)

Buybacks surge, Mapletree’s Chua Tiow Chye adds to MIT stake

FOR the 5 trading sessions that spanned Jun 10 to 16, the Straits Times Index (STI) declined 3.5 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

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Wilmar’s Chairman Kuok & QAF MD Lin Kejian Continue to Build Interests

Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares...

Singapore Exchange Ltd (SGX)

Vibrant activity among top traded stocks on SGX

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered...

Singapore Exchange Ltd (SGX)

Mixed Moves of Manufacturing Stocks in 1Q23

The iEdge SG Advanced Manufacturing Index is comprised of 110 stocks that drew 20 cents in every dollar that went to work into the Singapore stock...

Singapore Exchange Ltd (SGX)

What's Trending - Property prices, Tourism recovery, Earnings

#whatstrending feat. Beansprout Ever wondered what is currently driving the local and regional markets? #whatstrending is a new series...

Singapore Exchange Ltd (SGX)

Buybacks surge, Mapletree’s Chua Tiow Chye adds to MIT stake

FOR the 5 trading sessions that spanned Jun 10 to 16, the Straits Times Index (STI) declined 3.5 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)