Hanwell's executive director increases stake to 18.02%

FOR the five local trading sessions that spanned Sept 4 to 10, the Straits Times Index (STI) declined 1.6 per cent, with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a 2.1 per cent decline. This has brought the STI's decline in total return for the 2020 year to Sept 10 to 19.8 per cent.

Over the five sessions, the iEdge S-Reit Leaders Index was flat, maintaining its decline in total return for the 2020 year to Sept 10 at 5.3 per cent.

Share buybacks

There were 14 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$22.0 million, up from the S$6.0 million for the preceding week.

Yangzijiang Shipbuilding Holdings, Keppel Corporation, First Resources, Silverlake Axis and Global Investments led the consideration tally.

Director and substantial shareholder transactions

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The five trading sessions again saw approximately 90 changes in director interests and substantial shareholdings, filed for close to 40 primary-listed stocks.

This included 19 company director acquisitions, with two disposals filed, and substantial shareholders filing 12 acquisitions and six disposals.

Hanwell Holdings

Between Sept 8 and 9, executive director Tang Cheuk Chee acquired 818,200 shares of the listed company for a consideration of S$192,277.

At 23.50 cents per share, this increased her total interest in Hanwell Holdings from 17.88 per cent to 18.02 per cent.

Dr Tang has a wealth of management experience and is well versed in marketing, business development and investments in property and securities.

She is also an executive director of Tat Seng Packaging Group and is the spouse of Allan Yap, the executive chairman of the company.

In its H1FY20 (ended June 30) financial reports, Hanwell Holdings noted that its consumer business experienced a growth of 1.6 per cent in revenue against the same period last year, mainly contributed by good performance for rice, cooking oil and tofu.

On impacts from Covid-19, the management noted that the packaging business sector expects both Singapore's and China's operating environment to remain challenging in the near-term, given economic weakness and softening demand.

The company added a cautious outlook on the impact of Covid-19 on customers' businesses that depend on exporting, as the global markets are greatly affected.

Hanwell Holding's management will also continue to enhance the packaging business sector's business performance by executing the improvement strategies in terms of cost management, enhancing operational efficiency and boosting productivity.

Progen Holdings

On Sept 4, Progen Holdings managing director Lee Eng acquired 3,637,000 shares for a consideration of S$182,467, at 5.0 cents per share. This took his total interest in the listed company from 49.10 per cent to 50.03 per cent.

Mr Lee has more than 40 years of experience in the air-conditioning, refrigeration and climate control industry.

The group was founded more than three decades ago when Mr Lee started the first company in the group, Progen Pte Ltd, to supply and install air-conditioning systems.

Since then, the group has grown to become one of the leading corporations in the industry.

In the H1FY20 (ended June 30) financial reports, the group noted that despite the easing of the Circuit Breaker measures and the gradual clearance of the migrant workers to rejoin the workforce by the end of August 2020, it is not likely that the construction industry will recover to the pre-Covid level of operation within this year.

To tide through this crisis, the group said that it would also focus on preserving cash by reducing operating expenses where applicable and deferring all non-critical expenditures.

VibroPower Corporation

Between Sept 3 and 9, VibroPower Corporation substantial shareholder Chng Beng Hock increased his total interest in the stock from 10.78 per cent to 11.86 per cent.

The 583,900 shares were acquired at an average price of 14.50 cents per share, with a consideration of S$84,938.

Mr Chng has gradually increased his substantial shareholding in VibroPower Corporation from 5.24 per cent on June 15.

Noel Gifts International

On Sept 1, Wong Koon Hong's total interest in Noel Gifts International crossed above the substantial shareholder threshold, from 4.76 per cent to 5.14 per cent.

The 382,300 shares were acquired for a consideration of S$69,663 at 18.2 cents per share.

On Aug 27, Noel Gifts International reported FY20 (ended June 30) revenue of S$19.8 million, a decrease of 9.9 per cent, mainly attributable to lower gift revenue due to the impact of the Covid-19 pandemic.

The group noted with its FY20 results (ended June 30) that it would look into cost reduction measures, explore new business opportunities and upskill its staff.

Starburst Holdings

On Sept 8, Starburst Holdings managing director and executive director Yap Tin Foo acquired 119,500 shares of the Catalist-listed company for a consideration of S$48,542, at S$0.406 per share.

This took Mr Yap's total interest in Starburst Holdings from 33.79 per cent to 33.84 per cent.

Starburst Holdings designs, fabricates, installs and maintains anti-ricochet ballistic protection systems for firearm shooting ranges and tactical training mock-ups.

Mr Yap has about 30 years of experience in construction and project management.

Since he founded the Starburst business in 1999 together with the group's chairman and executive director, Edward Lim Chin Wah, he has been instrumental in the development and growth of the group.

Lian Beng Group

Between Sept 3 and 4, Ong Sek Chong & Sons Pte Ltd acquired 125,200 shares of Lian Beng Group. The consideration for the acquisitions was S$46,950, at an average price of S$0.375 per share.

This took the total interest of Ong Sek Chong & Sons Pte Ltd in the homegrown construction group from 30.85 per cent to 30.87 per cent.

This total interest has gradually increased from 29.62 per cent on Aug 1, 2019. Lian Beng Group chairman and managing director, Ong Pang Aik, and Ong Lay Huan maintain deemed interests in Ong Sek Chong & Sons Pte Ltd.

As of Sept 4, Mr Ong Pang Aik maintained a 36.60 per cent total interest in Lian Beng Group, with Ms Ong Lay Huan maintaining a total interest of 34.08 per cent.

Roxy-Pacific Holdings

Between Sept 3 and 8, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 108,100 shares of the listed company for a consideration of S$35,133. At 32.50 cents per share, this increased his total interest in Roxy-Pacific Holdings from 0.79 per cent to 0.80 per cent.

Mr Tan's preceding acquisitions in August were also booked at 32.50 cents per share. The independent director has gradually increased his total interest in the company from 0.71 per cent on March 29.

Mr Tan has been a non-executive director of Roxy-Pacific Holdings since December 2006. He is also executive chairman of Serrano and non-executive director of Plastoform Holdings.

Koh Brothers Group

Between Sept 7 and 9, Koh Brothers Group managing director & group CEO Koh Keng Siang acquired 139,100 shares for a consideration of S$21,618.

At 15.50 cents per share, this increased his total interest in the listed company from 21.78 per cent to 21.81 per cent.

Mr Koh has been with the group since 1987 and has held various positions in administration, finance and project management.

He was the main driving force behind the expansion of the group's business into real estate and leisure & hospitality.

Mr Koh is credited with spearheading the group to establish its brand name in Singapore as a builder of quality homes.

Medtecs International Corporation

On Sept 3, Medtecs International Corporation lead independent director Lim Tai Toon increased his deemed interest in the listed company, with his spouse, acquiring 10,000 shares at S$1.35 per share.

This followed her acquisition of 10,000 shares at S$1.50 per share on Aug 13.

Medtecs International Corporation's FY19 Annual Report noted that chairman Clement Yang Ker-Cheng maintained a direct interest in the listed company of 4.49 per cent and a deemed interest of 6.02 per cent as of March 27.

Sunningdale Tech

On Sept 7, fund manager Quarz Capital Asia became a substantial shareholder of Sunningdale Tech, with the purchase of 4,600 shares marginally increasing its shareholding above the 5.0 per cent threshold.

As reported in The Business Times on Sept 8, Jan Moermann, chief investment officer of Quarz Capital noted that Sunningdale had progressed well despite the difficult environment, continuing to provide dividends to shareholders and showing strong growth in its healthcare segment.