Malaysia's EPF becomes UG Healthcare substantial shareholder

FOR the five local trading sessions that spanned Sept 25 to Oct 1, the Straits Times Index (STI) gained 2.0 per cent, with the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a flat, unchanged performance. This has brought the STI's decline in total return for the 2020 year to Oct 1 to 19.5 per cent.

Over the five sessions, the iEdge S-Reit Leaders Index declined 0.2 per cent, bringing its decline in total return for the 2020 year to Oct 1 to 3.8 per cent.

Share buybacks

There were 16 primary-listed stocks conducting share buybacks over the five sessions with a total consideration of S$5.4 million, not far from the S$6.1 million for the preceding week.

Singapore Technologies Engineering led the consideration tally, purchasing 500,000 shares at an average price of S$3.46 per share. Yangzijiang Shipbuilding (Holdings), Ho Bee Land, First Resources and Global Investments also led the buyback consideration tally.

Director and substantial shareholder transactions

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

The five trading sessions again saw approximately 120 changes in director interests and substantial shareholdings, filed for close to 50 primary-listed stocks. This included 31 company director acquisitions, with five disposals filed, and substantial shareholders filing 19 acquisitions and four disposals.

UG Healthcare Corporation

A filing on Oct 1 showed the Employees Provident Fund (EPF) Board of Malaysia become a substantial shareholder of UG Healthcare Corporation. The acquisition of 605,000 shares on the open market was at a consideration of S$1,541,843, at an average price of S$2.55 per share.

This increased the EPF's direct interest in UG Healthcare Corporation from 4.99 per cent to 5.29 per cent. It followed on from the EPF becoming a substantial shareholder of Riverstone Holdings on Sept 17.

Back on Aug 11, UG Healthcare Corporation reported record revenue and net profit of S$144.2 million and S$13.4 million respectively for its FY20 (ended June 30). The disposable gloves manufacturer has its own established global downstream distribution that markets and sells disposable glove products under its proprietary "Unigloves" brand. The group also distributes ancillary products including surgical gloves, vinyl and cleanroom disposable gloves, facemasks and other medical disposables.

The ex-date for a stock split of three shares of UG Healthcare Corporation for every one UQ Healthcare Corporation share was on Sept 30.

Riverstone Holdings

Between Sept 25 and 30, Riverstone Holdings executive chairman and CEO Wong Teek Son acquired 226,000 shares of the listed company for a consideration of S$793,200. At an average price of S$3.51 per share, this increased his total interest in Riverstone Holdings from 51.05 per cent to 51.08 per cent. This followed his acquisition of 57,000 shares at S$3.49 per share on Sept 24.

Mr Wong is the founder of Riverstone and appointed to the board as executive chairman on Aug 3, 2005. He has been instrumental in expanding the group's customer base and cementing business relationships with its international customers.

Mr Wong's executive responsibilities include developing business strategies and overseeing the group's operations.

On Sept 25, Riverstone Holdings filed an updated corporate presentation on the SGX company announcements page highlighting management's plan to increase production capacity by 1.0 billion to 1.5 billion pieces of gloves every year.

Vividthree Holdings

On Sept 30, Vividthree Holdings chairman and independent director Ho Choon Hou acquired 11,090,400 shares of the Catalist-listed company for a consideration of S$776,328. The married deal was transacted at 7.00 cents per share and took his total interest in Vividthree Holdings to 3.32 per cent.

He is currently a principal at Southern Capital Group Pte Ltd, a private equity firm, where he is responsible for the management of assets as well as the origination and execution of investments for the company's clients.

He is also currently serving as an independent director of Advanced Holdings, and is vice-chairman and non-executive director of Cordlife Group.

Keppel Corporation

On Sept 30, Keppel Corporation CEO and executive director Loh Chin Hua acquired 70,000 shares of the listed company for a consideration of S$316,001. At S$4.51 per share, this increased his total interest in Keppel Corporation to 1,899,272 shares. Mr Loh is also chairman of several companies within the Keppel Group.

He joined the Keppel Group in 2002 and founded Alpha Investment Partners, the group's private fund management arm, where he served as managing director for 10 years. Before this, he was the managing director at Prudential Investment Inc, leading its Asian real estate fund management business.

Lian Beng Group

Between Sept 24 and 30, Ong Sek Chong & Sons Pte Ltd acquired 718,800 shares of Lian Beng Group.

The consideration of the acquisitions was S$277,378, at an average price of 37.62 cents per share.

This took the total interest of Ong Sek Chong & Sons Pte Ltd in the homegrown construction group from 30.87 per cent to 31.01 per cent.

This followed the acquisition of 125,200 shares at a similar average price between Sept 3 and 4.

Ong Sek Chong & Sons Pte Ltd's total interest in Lian Beng Group 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 30, Mr Ong Pang Aik maintained a 36.74 per cent total interest in Lian Beng Group, with Ms Ong Lay Huan maintaining a total interest of 34.22 per cent.

NetLink NBN Trust

On Sept 29, Tong Yew Heng, non-independent executive director and CEO of NetLink Trust's (NLT) manager, acquired 200,000 units of the business trust for a consideration of S$194,000. (amendment note)

This took his direct stake in the Trust to 550,000 units.

Mr Tong has been the CEO of NLT since January 2016.

In this role, he is responsible for the overall leadership and performance of NLT.

Prior to joining NLT, Mr Tong was executive vice-president, corporate & market development, of Singapore Technologies Electronics Ltd.

Before that, he was CEO of CitySpring Infrastructure Trust.

Roxy-Pacific Holdings

Between Sept 23 and 29, Roxy-Pacific Holdings independent director Winston Tan Tien Hin acquired 310,000 shares of the listed company for a consideration of S$100,075.

At 32.28 cents per share, this increased his total interest in Roxy-Pacific Holdings from 0.82 per cent to 0.85 per cent.

This represented 55 per cent more shares than Mr Tan acquired over the preceding five sessions.

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.

UOB-Kay Hian Holdings

On Sept 24, UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee-chao acquired 51,300 shares for a consideration of S$64,125 at S$1.25 per share.

This increased his total interest in UOBKH from 30.63 per cent to 30.64 per cent.

Mr Wee's total interest in UOBKH has gradually increased from 29.49 per cent at the end of 2019, and increased from 27.98 per cent at the end of 2018.

Alset International

On Sept 24, Alset International (formerly Singapore eDevelopment) executive chairman and CEO Chan Heng Fai acquired 700,000 shares for a consideration of S$44,100, at an average price of 6.30 cents per share.

This increased his total interest in Alset International from 71.41 per cent to 71.45 per cent.

This followed Mr Chan acquiring 1,966,000 shares at 6.37 cents per share between Sept 21 and 22 and 10,784,200 shares at 6.17 cents per share between Sept 9 and 14.

Mr Chan, who has restructured over 35 companies in various industries and countries in the past 40 years and has gradually increased his interest in Alset International from 68.74 per cent in March 2018.

VibroPower Corporation

Between Sept 24 and 28, VibroPower Corporation substantial shareholder Chng Beng Hock increased his total interest in the stock from 12.22 per cent to 12.55 per cent.

The 176,900 shares were acquired at an average price of 16.67 cents per share, with a consideration of S$29,481.

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

Amendment note: The article previously stated Tong Yew Heng is NLT's independent executive director. He is in fact the non-independent executive director of NLT's manager.