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>Share buybacks by primary listed companies 24 - 30 March, 2023 DBS, OCBC, Suntec Reit, Yangzijiang Shipbuilding (Holdings) and CapitaLand Integrated Commercial Trust led the net institutional outflow for the five sessions.</li><li>On Mar 27, Acesian Partners executive director & group chief operating officer Wong Kok Chye disposed of 3,040,500 shares at S$0.065 per share.</li></ul>

Share buybacks by primary listed companies 24 - 30 March, 2023 DBS, OCBC, Suntec Reit, Yangzijiang Shipbuilding (Holdings) and CapitaLand Integrated Commercial Trust led the net institutional outflow for the five sessions.On Mar 27, Acesian Partners executive director & group chief operating officer Wong Kok Chye disposed of 3,040,500 shares at S$0.065 per share.

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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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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' />
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 <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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 <img src='https://api2.sgx.com/sites/default/files/2022-07/25Jul2022_EarningsSchedule.jpg' alt='Economic calendar' />
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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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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

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For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China A50 Index adding 0.2 per cent, the Hang Seng Index gaining 2.5 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.  
Overall, institutions were net buyers of Singapore stocks over the 5 sessions with S$3.4 million of net inflow, following S$145 million of net outflow for the preceding 5 sessions. OCBC, Keppel Corporation, UOB, Singapore Exchange and Singapore Telecommunications led the net institutional inflows for the 5 sessions through to May 19. Share buybacks

There were 17 primary-listed stocks conducting share buybacks over the 5 sessions ended May 19, with a total consideration of S$67,410,124, down from the S$122.8 million for the preceding 5 sessions. 
After buying back 10 million shares on May 12, CapitaLand Investment bought back another 6,106,600 million shares at an average price of S$3.80 per share, while Keppel Corporation led the consideration tally with 3,689,000 shares bought back at an average price of S$6.69 per share.   Director and substantial shareholder transactions

The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 20 company director acquisitions with 2 disposals filed, while substantial shareholders filed 8 acquisitions and 4 disposals. UOL Group

On May 12, Wee Investments acquired 200,000 shares of UOL Group at an average price of S$6.99 per share. This took the total interest in the company of UOL Group chairman Wee Cho Yaw from 38.29 per cent to 38.32 per cent. It followed Wee Investments’ acquisition of 500,000 shares also at S$6.99 per share between May 10 and 11. Wee also serves as the chairman of UOL Group, United Overseas Insurance, Haw Par Corporation and Singapore Land Group. Trans-China Automotive Holdings

On May 18, Trans-China Automotive Holdings executive chairman and CEO Francis Tjia acquired 4.0 million shares of the Catalist-listed company at 21.0 cents per share, through Octo Holdings which he wholly owns. With a consideration of S$840,000, this increased his deemed interest in the vehicle dealership group from 77.93 per cent to 78.61 per cent. Tjia has more than 20 years of experience in the industry in China. Frencken Group

On May 19, Frencken Group non-executive non-independent chairman Gooi Soon Chai acquired 200,000 shares of the company at S$1.15 per share. With a consideration of S$230,000, this took his total interest in the integrated technology solutions company from 23.48 per cent to 23.53 per cent.

It followed his acquisition of 50,000 shares on Mar 11 at S$1.53 per share. He was appointed the group’s chairman in August 2016.

Also, on May 19, Frencken Group president and executive director Dennis Au acquired 200,000 shares of the company at S$1.16 per share. This took his interest from 0.89 per cent to 0.94 per cent. His preceding acquisitions were between Mar 7 and 8, with 150,000 shares acquired at S$1.52 per share. Chip Eng Seng Corporation

On May 13, Chip Eng Seng Corporation lead independent director Abdul Jabbar bin Karam Din acquired 292,400 shares of the company at 42.0 cents per share. With a consideration of S$122,808, this took his direct interest in the homegrown property development and construction group to 0.04 per cent.

Abdul Jabbar joined the board on Feb 2, 2018 as an independent director and was appointed lead independent director in April 2021. An executive committee partner with Rajah and Tann Singapore, he heads the firm’s corporate and transactional practice. He has more than 25 years’ extensive experience in mergers and acquisitions, joint ventures, employment, banking and finance, general commercial and private client work, both local and international. Transit-Mixed Concrete

Between May 11 and 12, Transit-Mixed Concrete executive director Lee Sai Sing acquired 833,400 shares at 14.5 cents per share. With a consideration of S$120,843, this increased his direct interest in the provider of concrete pumping services and waste management, from 55.07 per cent to 55.87 per cent. His preceding acquisition was on Dec 21, with 63,400 shares acquired at 13.9 cents per share.

Lee has extensive experience in investing in unlisted and listed Asian equities and serves as independent director at Maxi-Cash Financial Services Corporation. He is involved in advising corporations in restructurings, pre-initial public offerings and initial public offerings and has worked in the fund management industry for many years in major financial institutions like GIC, BNP Paribas Private Bank and Maybank-Kim Eng.

On Apr 27, the company reported that turnover grew by 64 per cent to S$8.24 million for the year ended Feb 28, compared with S$5.01 million in the previous year. JB Foods

On May 13, JB Foods executive director Goh Lee Beng acquired 192,000 shares of the listed company for a consideration of S$95,040. At 49.5 cents per share, this took Goh’s total interest from 1.59 per cent to 1.65 per cent. JB Cocoa Group Sdn Bhd also maintains a 45.52 per cent interest in JB Foods, of which Goh has a deemed interest. This brings her total interest in JB foods to 47.17 per cent.

With over 25 years of experience in the cocoa business, she is responsible for procurement of raw materials and managing the cocoa trading positions, which includes sourcing of cocoa beans and cocoa ingredients, managing the group’s cocoa hedging book, monitoring world cocoa trends, and marketing of cocoa butter. Bonvests Holdings

Between May 11 and 17, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 86,300 shares of the company for a consideration of S$82,737, at an average price of 95.9 cents per share.

The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests from 83.77 per cent to 83.80 per cent. Asian Pay Television Trust

On May 17, the CEO of the trustee-manager of Asian Pay Television Trust, Brian McKinley, acquired 300,000 units at 13.3 cents per unit. With a consideration of S$39,900, this increased his direct interest in the business trust from 0.13 per cent to 0.15 per cent.

His preceding acquisitions were on Feb 28, with 200,000 units acquired at 13.7 cents per unit; Nov 19, with 200,000 units bought at 13.6 cents per unit; and on Sept 10, with 400,000 units bought at 13.1 cents per unit. Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.

On May 13, APTT reported revenue of S$73.6 million for its Q1 2022 which was down 1.1 per cent from S$74.4 million in Q1 2021, while Ebitda declined 4.8 per cent to S$43.2 million, on higher operating expenses. Broadband revenue for Q1 2022 recorded 16.5 per cent growth from Q1 2021, with continued increases in subscribers, ARPU and revenue in both S$ and NT$.

APTT is the first listed business trust in Asia focused on pay-TV and broadband businesses, with its current investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore. Dyna-Mac Holdings

On May 13, Dyna-Mac Holdings executive director and CEO, Lim Ah Cheng acquired 168,000 shares of the company at 14.2 cents per share. With a consideration of S$23,856, this increased Lim’s direct interest in the global multi-disciplinary contractor from 0.18 per cent to 0.19 per cent.

On May 12, Dyna-Mac Holdings reported its revenue increased to S$67.5 million in Q1 2022, from S$41.1 million in Q1 2021, mainly due to higher progress achieved for the projects carried out in Q1 2022. At the same time, Q1 2022 gross profit declined by S$0.2 million to S$5.7 million, from S$5.9 million in Q1 2021, mainly due to additional variation works recognised in Q1 2021.

Lim has more than 20 years of extensive working experience in project management, commercial management, yards operations and design engineering in the Oil and Gas Industries and was a Keppel Corporation Scholarship recipient. Prior to joining Dyna-Mac Holdings, he held various senior management positions in Keppel Offshore and Marine group. Oxley Holdings

Between May 13 and 18, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.4 cents per share, with a consideration of S$17,435. 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/hong-fok-continues-buybacks-as-joint-ceo-raises-stake-0"> </a><a href="https://www.businesstimes.com.sg/companies-markets/uol-trans-china-automotive-frencken-chairmen-raise-stakes">read </a>the original version.
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    Share buyback


For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China A50 Index adding 0.2 per cent, the Hang Seng Index gaining 2.5 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.   
Overall, institutions were net buyers of Singapore stocks over the 5 sessions with S$3.4 million of net inflow, following S$145 million of net outflow for the preceding 5 sessions. OCBC, Keppel Corporation, UOB, Singapore Exchange and Singapore Telecommunications led the net institutional inflows for the 5 sessions through to May 19.  Share buybacks

There were 17 primary-listed stocks conducting share buybacks over the 5 sessions ended May 19, with a total consideration of S$67,410,124, down from the S$122.8 million for the preceding 5 sessions.  
After buying back 10 million shares on May 12, CapitaLand Investment bought back another 6,106,600 million shares at an average price of S$3.80 per share, while Keppel Corporation led the consideration tally with 3,689,000 shares bought back at an average price of S$6.69 per share.    Director and substantial shareholder transactions

The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 20 company director acquisitions with 2 disposals filed, while substantial shareholders filed 8 acquisitions and 4 disposals.  UOL Group

On May 12, Wee Investments acquired 200,000 shares of UOL Group at an average price of S$6.99 per share. This took the total interest in the company of UOL Group chairman Wee Cho Yaw from 38.29 per cent to 38.32 per cent. It followed Wee Investments’ acquisition of 500,000 shares also at S$6.99 per share between May 10 and 11. Wee also serves as the chairman of UOL Group, United Overseas Insurance, Haw Par Corporation and Singapore Land Group.  Trans-China Automotive Holdings

On May 18, Trans-China Automotive Holdings executive chairman and CEO Francis Tjia acquired 4.0 million shares of the Catalist-listed company at 21.0 cents per share, through Octo Holdings which he wholly owns. With a consideration of S$840,000, this increased his deemed interest in the vehicle dealership group from 77.93 per cent to 78.61 per cent. Tjia has more than 20 years of experience in the industry in China.  Frencken Group

On May 19, Frencken Group non-executive non-independent chairman Gooi Soon Chai acquired 200,000 shares of the company at S$1.15 per share. With a consideration of S$230,000, this took his total interest in the integrated technology solutions company from 23.48 per cent to 23.53 per cent.

It followed his acquisition of 50,000 shares on Mar 11 at S$1.53 per share. He was appointed the group’s chairman in August 2016.

Also, on May 19, Frencken Group president and executive director Dennis Au acquired 200,000 shares of the company at S$1.16 per share. This took his interest from 0.89 per cent to 0.94 per cent. His preceding acquisitions were between Mar 7 and 8, with 150,000 shares acquired at S$1.52 per share.  Chip Eng Seng Corporation

On May 13, Chip Eng Seng Corporation lead independent director Abdul Jabbar bin Karam Din acquired 292,400 shares of the company at 42.0 cents per share. With a consideration of S$122,808, this took his direct interest in the homegrown property development and construction group to 0.04 per cent.

Abdul Jabbar joined the board on Feb 2, 2018 as an independent director and was appointed lead independent director in April 2021. An executive committee partner with Rajah and Tann Singapore, he heads the firm’s corporate and transactional practice. He has more than 25 years’ extensive experience in mergers and acquisitions, joint ventures, employment, banking and finance, general commercial and private client work, both local and international.  Transit-Mixed Concrete

Between May 11 and 12, Transit-Mixed Concrete executive director Lee Sai Sing acquired 833,400 shares at 14.5 cents per share. With a consideration of S$120,843, this increased his direct interest in the provider of concrete pumping services and waste management, from 55.07 per cent to 55.87 per cent. His preceding acquisition was on Dec 21, with 63,400 shares acquired at 13.9 cents per share.

Lee has extensive experience in investing in unlisted and listed Asian equities and serves as independent director at Maxi-Cash Financial Services Corporation. He is involved in advising corporations in restructurings, pre-initial public offerings and initial public offerings and has worked in the fund management industry for many years in major financial institutions like GIC, BNP Paribas Private Bank and Maybank-Kim Eng.

On Apr 27, the company reported that turnover grew by 64 per cent to S$8.24 million for the year ended Feb 28, compared with S$5.01 million in the previous year.  JB Foods

On May 13, JB Foods executive director Goh Lee Beng acquired 192,000 shares of the listed company for a consideration of S$95,040. At 49.5 cents per share, this took Goh’s total interest from 1.59 per cent to 1.65 per cent. JB Cocoa Group Sdn Bhd also maintains a 45.52 per cent interest in JB Foods, of which Goh has a deemed interest. This brings her total interest in JB foods to 47.17 per cent.

With over 25 years of experience in the cocoa business, she is responsible for procurement of raw materials and managing the cocoa trading positions, which includes sourcing of cocoa beans and cocoa ingredients, managing the group’s cocoa hedging book, monitoring world cocoa trends, and marketing of cocoa butter.  Bonvests Holdings

Between May 11 and 17, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 86,300 shares of the company for a consideration of S$82,737, at an average price of 95.9 cents per share.

The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests from 83.77 per cent to 83.80 per cent.  Asian Pay Television Trust

On May 17, the CEO of the trustee-manager of Asian Pay Television Trust, Brian McKinley, acquired 300,000 units at 13.3 cents per unit. With a consideration of S$39,900, this increased his direct interest in the business trust from 0.13 per cent to 0.15 per cent.

His preceding acquisitions were on Feb 28, with 200,000 units acquired at 13.7 cents per unit; Nov 19, with 200,000 units bought at 13.6 cents per unit; and on Sept 10, with 400,000 units bought at 13.1 cents per unit. Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.

On May 13, APTT reported revenue of S$73.6 million for its Q1 2022 which was down 1.1 per cent from S$74.4 million in Q1 2021, while Ebitda declined 4.8 per cent to S$43.2 million, on higher operating expenses. Broadband revenue for Q1 2022 recorded 16.5 per cent growth from Q1 2021, with continued increases in subscribers, ARPU and revenue in both S$ and NT$.

APTT is the first listed business trust in Asia focused on pay-TV and broadband businesses, with its current investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore.  Dyna-Mac Holdings

On May 13, Dyna-Mac Holdings executive director and CEO, Lim Ah Cheng acquired 168,000 shares of the company at 14.2 cents per share. With a consideration of S$23,856, this increased Lim’s direct interest in the global multi-disciplinary contractor from 0.18 per cent to 0.19 per cent.

On May 12, Dyna-Mac Holdings reported its revenue increased to S$67.5 million in Q1 2022, from S$41.1 million in Q1 2021, mainly due to higher progress achieved for the projects carried out in Q1 2022. At the same time, Q1 2022 gross profit declined by S$0.2 million to S$5.7 million, from S$5.9 million in Q1 2021, mainly due to additional variation works recognised in Q1 2021.

Lim has more than 20 years of extensive working experience in project management, commercial management, yards operations and design engineering in the Oil and Gas Industries and was a Keppel Corporation Scholarship recipient. Prior to joining Dyna-Mac Holdings, he held various senior management positions in Keppel Offshore and Marine group.  Oxley Holdings

Between May 13 and 18, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.4 cents per share, with a consideration of S$17,435. 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.



UOL, Trans-China Automotive & Frencken chairmen raise stakes

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For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China A50 Index declining 3.4 per cent, the Hang Seng Index falling 6.1 per cent and the FTSE Bursa Malaysia KLCI dipping 2.6 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$145 million of net outflow, following S$67 million of net inflow for the preceding 5 sessions. 
DBS Group Holdings, UOB, Singapore Airlines, Yangzijiang Financial Holdings and Thai Beverage led the net institutional outflows for the 5 sessions through to May 12. Meanwhile, Singapore Telecommunications, OCBC, CapitaLand Investment, Venture Corporation and ST Engineering led the net institutional inflows for the 5 sessions. Overall, the net institutional inflows into Singapore stocks in the 2022 year to May 12 totalled S$307 million. Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the 5 sessions ended May 12, with a total consideration of S$122.8 million, significantly higher than the S$44.5 million for the preceding 5 sessions.

CapitaLand Investment bought back 10 million shares at an average price of S$3.79 per share.

This represented 0.19 per cent of its issued shares (excluding treasury shares), with the buyback conducted in the session immediately after the leading global real estate investment manager provided a March quarter business update. 
For the quarter, CapitaLand Investment reported Q1 FY22 revenue increased 16 per cent year on year to S$598 million on growth in the fund management and lodging management segments, in addition to disciplined capital management. Director and substantial shareholder transactions 
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 21 company director acquisitions with no disposals filed, while substantial shareholders filed 12 acquisitions and 2 disposals. UOL Group 
Between May 10 and 11, Wee Investments acquired 500,000 shares of the company at an average price of S$6.99 per share. This took the total interest of UOL Group chairman Wee Cho Yaw in the company from 38.24 per cent to 38.29 per cent. The preceding acquisitions by Wee Investments were on Mar 8 with 899,200 shares acquired at S$6.80 per share, and Mar 7 with 964,000 shares acquired at S$6.85 per share.  
At the annual general meeting held on Apr 27, UOL Group’s CEO Liam Wee Sin maintained that with Singapore decisively moving from the pandemic to the endemic stage, he was cautiously optimistic that the company would emerge stronger from the pandemic with the opening of borders. He added that Singapore’s reconnection with the world would help to restore consumer confidence and give a much-needed boost to the businesses, in particular, the tourism/hospitality sector.  Liam also maintained that the company would continue to pursue asset enhancement initiatives for its investment portfolio while leveraging on its domain knowledge to deliver strong product offerings for residential projects. Challenger Technologies 
Between May 6 and 9, Challenger Technologies executive director and CEO Loo Leong Thye increased his deemed interest in the company, with his spouse Ong Sock Hwee acquiring 863,200 shares. The shares were acquired for a consideration of S$485,811 at an average price of 56.3 cents per share. This increased Loo’s total interest in Challenger Technologies from 47.11 per cent to 47.32 per cent 
Loo is responsible for the overall management of the group. He also charts the corporate directions, strategies and policies and grew the business operations of the group in 1982 from a sole proprietorship, to its present scale. Last year the group incorporated a few subsidiaries under its wholly-owned Challenge Ventures. At the beginning of 2022, 2 of these subsidiaries turned operational. Kingdom Technologies, a builder of customised personal computers, sells its products exclusively online under the Kingdom brand name. The second subsidiary is ITEZ.SG, is an online platform that offers affordable IT equipment rental on a subscription format. Bonvests Holdings 
Between May 6 and 10, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 167,200 shares of the company for a consideration of S$158,340, at an average price of 94.7 cents per share. The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests Holdings from 83.73 per cent to 83.77 per cent. His preceding acquisitions were between Mar 7 and 8, with 40,700 shares acquired at 92.0 cents per share. 
Ngo is the founder of Bonvests and responsible for mapping out the corporate and growth strategy of the group, with Bonvests establishing itself as an experienced player in the property leasing and management industry for more than 30 years. The group’s revenue increased by 11.5 per cent to S$134.4 million in 2021 from S$120.6 million in 2020, mainly due to higher revenue from the hotel division. Tai Sin Electric 
Between May 4 and 10, Tai Sin Electric executive director and CEO Bernard Lim Boon Hock’s deemed interest increased in the company by 500,000 shares at 39.0 cents per share. This was due to acquisitions made by both his spouse and daughter. With a consideration of S$195,000 the acquisitions took his total interest in the company from 17.38 per cent to 17.49 per cent. This followed his acquisition of 115,300 shares in his own name at 39.0 cents per share on Mar 23. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.   iFAST Corporation 
On May 11, iFAST Corporation independent director Kok Chee Wai acquired 20,000 shares of the company at S$4.69 per share. With a consideration of S$93,795, this increased his deemed interest in the wealth management Fintech platform from 0.51 per cent to 0.52 per cent. Kok has been a partner in Allen &amp; Gledhill LLP since 1998, where he is currently the co-head of the firm’s financial services department, regional energy, infrastructure &amp; projects practice, and banking &amp; finance practice. He has broad and deep experience in domestic and international financing, and general banking and finance practice includes acting for lenders and major corporates on domestic and cross-border syndicated loans, structured and acquisition financing and debt restructuring. JB Foods 
On May 9, JB Foods executive director and CEO Tey How Keong acquired 97,000 shares of the company for a consideration of S$48,015. At 49.5 cents per share, this increased his total interest in JB Foods from 46.81 per cent to 46.84 per cent. This followed his acquisitions of 82,000 shares at 49.0 cents per share on Apr 29, 29,600 shares at 47.3 cents per share on Mar 23 and 400,000 shares at 52.0 cents per share on Dec 27. JB Foods core business is in the production and sale of cocoa ingredient products, with Tey responsible for the overall strategic, management and business development of the group. He has over 25 years of experience in the cocoa business. Q&amp;M Dental Group (Singapore) 
On May 12, Q &amp; M Dental Group (Singapore) independent non-executive director Harry Ng Weng Sui acquired 70,000 shares of the company for a consideration of S$34,500, at 49.3 cents per share. This increased his total interest in the private dental healthcare group from 0.04 per cent to 0.05 per cent. Similarly, on May 14, 2021, Ng acquired 60,000 shares of the company, at 63.0 cents per share. Lendlease Global Commercial REIT 
On May 6, Lendlease Global Commercial Trust Management independent non-executive director Simon John Perrott acquired 30,800 units of Lendlease Global Commercial Reit for a consideration of S$24,640. At 80.0 cents per unit, this took his direct interest to 114,650 units. Perrott was previously the chairman of CIMB Bank Australia from 2012 to 2014 and the chairman of RBS Australia from 2009 to 2012. From 2002 to 2009, he held various roles in ABN AMRO Bank where his last held role was co-head of banking. 
In April, Lendlease Global Commercial Trust Management completed the acquisition of a 100 per cent direct interest in Jem, with the manager maintaining that the enlarged portfolio with high-quality tenants such as the Ministry of National Development, IKEA and NTUC FairPrice Extra provides strong and stable cashflow for unitholders. Oxley Holdings 
Between May 9 and 10, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.8 cents per share. With a consideration of S$17,750, this increased his direct interest in Oxley Holdings from 28.12 per cent to 28.13 per cent. Low is responsible for the operation of the group including sales and marketing, project development, business development and financial management. Low also assists the CEO in charting and executing the strategic plans for the group. Inside Insights is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/hong-fok-continues-buybacks-as-joint-ceo-raises-stake-0"> </a><a href="https://www.businesstimes.com.sg/companies-markets/cli-leads-buyback-tally-wee-investments-ups-uol-stake">read</a><a href="https://www.businesstimes.com.sg/companies-markets/wilmar-leads-buyback-tally-yzjfh-directors-acquire-shares"> </a>the original version.
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    Share buyback


For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China A50 Index declining 3.4 per cent, the Hang Seng Index falling 6.1 per cent and the FTSE Bursa Malaysia KLCI dipping 2.6 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$145 million of net outflow, following S$67 million of net inflow for the preceding 5 sessions.  
DBS Group Holdings, UOB, Singapore Airlines, Yangzijiang Financial Holdings and Thai Beverage led the net institutional outflows for the 5 sessions through to May 12. Meanwhile, Singapore Telecommunications, OCBC, CapitaLand Investment, Venture Corporation and ST Engineering led the net institutional inflows for the 5 sessions. Overall, the net institutional inflows into Singapore stocks in the 2022 year to May 12 totalled S$307 million.  Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the 5 sessions ended May 12, with a total consideration of S$122.8 million, significantly higher than the S$44.5 million for the preceding 5 sessions.

CapitaLand Investment bought back 10 million shares at an average price of S$3.79 per share.

This represented 0.19 per cent of its issued shares (excluding treasury shares), with the buyback conducted in the session immediately after the leading global real estate investment manager provided a March quarter business update.  
For the quarter, CapitaLand Investment reported Q1 FY22 revenue increased 16 per cent year on year to S$598 million on growth in the fund management and lodging management segments, in addition to disciplined capital management.  Director and substantial shareholder transactions  
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 21 company director acquisitions with no disposals filed, while substantial shareholders filed 12 acquisitions and 2 disposals.  UOL Group  
Between May 10 and 11, Wee Investments acquired 500,000 shares of the company at an average price of S$6.99 per share. This took the total interest of UOL Group chairman Wee Cho Yaw in the company from 38.24 per cent to 38.29 per cent. The preceding acquisitions by Wee Investments were on Mar 8 with 899,200 shares acquired at S$6.80 per share, and Mar 7 with 964,000 shares acquired at S$6.85 per share.   
At the annual general meeting held on Apr 27, UOL Group’s CEO Liam Wee Sin maintained that with Singapore decisively moving from the pandemic to the endemic stage, he was cautiously optimistic that the company would emerge stronger from the pandemic with the opening of borders. He added that Singapore’s reconnection with the world would help to restore consumer confidence and give a much-needed boost to the businesses, in particular, the tourism/hospitality sector.  Liam also maintained that the company would continue to pursue asset enhancement initiatives for its investment portfolio while leveraging on its domain knowledge to deliver strong product offerings for residential projects.  Challenger Technologies  
Between May 6 and 9, Challenger Technologies executive director and CEO Loo Leong Thye increased his deemed interest in the company, with his spouse Ong Sock Hwee acquiring 863,200 shares. The shares were acquired for a consideration of S$485,811 at an average price of 56.3 cents per share. This increased Loo’s total interest in Challenger Technologies from 47.11 per cent to 47.32 per cent  
Loo is responsible for the overall management of the group. He also charts the corporate directions, strategies and policies and grew the business operations of the group in 1982 from a sole proprietorship, to its present scale. Last year the group incorporated a few subsidiaries under its wholly-owned Challenge Ventures. At the beginning of 2022, 2 of these subsidiaries turned operational. Kingdom Technologies, a builder of customised personal computers, sells its products exclusively online under the Kingdom brand name. The second subsidiary is ITEZ.SG, is an online platform that offers affordable IT equipment rental on a subscription format.  Bonvests Holdings  
Between May 6 and 10, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 167,200 shares of the company for a consideration of S$158,340, at an average price of 94.7 cents per share. The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests Holdings from 83.73 per cent to 83.77 per cent. His preceding acquisitions were between Mar 7 and 8, with 40,700 shares acquired at 92.0 cents per share.  
Ngo is the founder of Bonvests and responsible for mapping out the corporate and growth strategy of the group, with Bonvests establishing itself as an experienced player in the property leasing and management industry for more than 30 years. The group’s revenue increased by 11.5 per cent to S$134.4 million in 2021 from S$120.6 million in 2020, mainly due to higher revenue from the hotel division.  Tai Sin Electric  
Between May 4 and 10, Tai Sin Electric executive director and CEO Bernard Lim Boon Hock’s deemed interest increased in the company by 500,000 shares at 39.0 cents per share. This was due to acquisitions made by both his spouse and daughter. With a consideration of S$195,000 the acquisitions took his total interest in the company from 17.38 per cent to 17.49 per cent. This followed his acquisition of 115,300 shares in his own name at 39.0 cents per share on Mar 23. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.    iFAST Corporation  
On May 11, iFAST Corporation independent director Kok Chee Wai acquired 20,000 shares of the company at S$4.69 per share. With a consideration of S$93,795, this increased his deemed interest in the wealth management Fintech platform from 0.51 per cent to 0.52 per cent. Kok has been a partner in Allen &amp; Gledhill LLP since 1998, where he is currently the co-head of the firm’s financial services department, regional energy, infrastructure &amp; projects practice, and banking &amp; finance practice. He has broad and deep experience in domestic and international financing, and general banking and finance practice includes acting for lenders and major corporates on domestic and cross-border syndicated loans, structured and acquisition financing and debt restructuring.  JB Foods  
On May 9, JB Foods executive director and CEO Tey How Keong acquired 97,000 shares of the company for a consideration of S$48,015. At 49.5 cents per share, this increased his total interest in JB Foods from 46.81 per cent to 46.84 per cent. This followed his acquisitions of 82,000 shares at 49.0 cents per share on Apr 29, 29,600 shares at 47.3 cents per share on Mar 23 and 400,000 shares at 52.0 cents per share on Dec 27. JB Foods core business is in the production and sale of cocoa ingredient products, with Tey responsible for the overall strategic, management and business development of the group. He has over 25 years of experience in the cocoa business.  Q&amp;M Dental Group (Singapore)  
On May 12, Q &amp; M Dental Group (Singapore) independent non-executive director Harry Ng Weng Sui acquired 70,000 shares of the company for a consideration of S$34,500, at 49.3 cents per share. This increased his total interest in the private dental healthcare group from 0.04 per cent to 0.05 per cent. Similarly, on May 14, 2021, Ng acquired 60,000 shares of the company, at 63.0 cents per share.  Lendlease Global Commercial REIT  
On May 6, Lendlease Global Commercial Trust Management independent non-executive director Simon John Perrott acquired 30,800 units of Lendlease Global Commercial Reit for a consideration of S$24,640. At 80.0 cents per unit, this took his direct interest to 114,650 units. Perrott was previously the chairman of CIMB Bank Australia from 2012 to 2014 and the chairman of RBS Australia from 2009 to 2012. From 2002 to 2009, he held various roles in ABN AMRO Bank where his last held role was co-head of banking.  
In April, Lendlease Global Commercial Trust Management completed the acquisition of a 100 per cent direct interest in Jem, with the manager maintaining that the enlarged portfolio with high-quality tenants such as the Ministry of National Development, IKEA and NTUC FairPrice Extra provides strong and stable cashflow for unitholders.  Oxley Holdings  
Between May 9 and 10, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.8 cents per share. With a consideration of S$17,750, this increased his direct interest in Oxley Holdings from 28.12 per cent to 28.13 per cent. Low is responsible for the operation of the group including sales and marketing, project development, business development and financial management. Low also assists the CEO in charting and executing the strategic plans for the group.  Inside Insights is a weekly column on The Business Times, read the original version.



CLI leads buyback tally, Wee Investments ups UOL stake

Singapore

City Developments Limited is a property developer and owner. The Company, through its subsidiaries, are principally engaged in the investment of properties and shares, property management, project management and the provision of consultancy services, hospitality-related information technology, and procurement services. City Developments has a global presence.

Frasers Property Limited provides real estate ownership and development services. The Company engages in the development of land, housing projects, apartments, as well as commercial, industrial, and retail properties. Frasers Property serves customers globally.

Singapore Land Group Limited operates as a real estate company. The Company develops and invests in properties, and provides property management, information technology, development management and consultancy services, as well as trades in computers and related products, and invests in hotels and retail centers. Singapore Land Group serves clients in Singapore.

Ascendas India Trust is a business trust that invests in real estate. The trust acquires, owns, and develops land for business use.

GuocoLand Limited is a regional property company with operations in Singapore, China, Malaysia and Vietnam. Headquartered in Singapore, the principal business activities of GuocoLand and its subsidiaries (“the Group”) are property development, property investment, hotel operations and property management.

Ho Bee Land Limited develops and invests in real estate properties in Singapore and United Kingdom.  The Company also operates hotels.

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

First Sponsor Group Limited, an investment holding company, is engaged in the property development and investment activities primarily in the People's Republic of China. Its properties include residential and commercial properties.

Yanlord Land Group Ltd is a real estate development company. The Company develops high-end residential property projects in the Peoples Republic of China.

Bukit Sembawang Estates Limited, through its subsidiaries, operates in property development, property mortgage financing, and the holding of properties and investments. The Company provides residential property development throughout Singapore.

AEON Mall Co., Ltd. develops, manages, and maintains large-scale shopping malls throughout Japan. The Company develops shopping malls, rent the space, manages and maintains the shopping malls.

Highwealth Construction Corp. develops and sells residential and commercial buildings which are constructed by independent construction contractors.

Brigade Enterprises Limited operates as a real estate development company. The Company focuses on the development of residential, commercial, and hospitality properties.

China World Trade Center Co., Ltd. provides real estate services. The Company operates office building leasing business, shopping mall leasing business, apartment leasing business, hotel management business, and other related businesses. China World Trade Center offers services in China.

Tokyo Tatemono Co., Ltd. develops, sells, and leases commercial buildings, condominiums, and houses.   The Company also develops and manages hotels, vacation houses, leisure facilities, and resort places.

Lendlease Group designs, develops, and manages property and infrastructure assets. The Company constructs apartments, commercial buildings, government offices, retirement living, and educational facilities. Lendlease serves customers worldwide.

I-Sunny Construction & Development Co., Ltd. develops and sells real estate properties.

Isunny Construction&Development (2540 TT)

C&D International Investment Group Limited is a green building property development and management company based in Hong Kong.

Hangzhou Binjiang Real Estate Group Co., Ltd. develops and sells real estate properties. The Company also manages and operates hotels.

Hangzhou Binjiang Real Estate Grp (002244 CH)

Open House Co.,Ltd. provides real estate services. The Company offers services including renting, buying, selling and appraising real estate.

UOL Group Limited is a property company. The Company has a diversified portfolio of development and investment properties, hotels, and serviced suites. UOL Group, through its subsidiary owns a portfolio of commercial assets and hotels. UOL Group operates in Asia, Oceania, and North America.

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UOL Group (UOL SP)

Wee Cho Yaw adds to his stake in UOL

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Singapore Exchange Ltd (SGX)

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For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Wee Cho Yaw adds to his stake in UOL

Share buybacks by primary listed companies 24 - 30 March, 2023 DBS, OCBC, Suntec Reit, Yangzijiang Shipbuilding (Holdings) and CapitaLand...

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)

UOL, Trans-China Automotive & Frencken chairmen raise stakes

For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

CLI leads buyback tally, Wee Investments ups UOL stake

For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)