Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 16 to 22, with S$184.7 million of net institutional inflow. The five sessions also saw 23 primary-listed companies conduct buybacks with a total consideration of S$16.6 million.

CapitaLand Investment led the buyback consideration tally during the period, buying 3.4 million shares at an average price of S$2.56 per share. Digital Core Reit Management also acquired units of Digital Core Reit on Aug 16.

Leading the net institutional inflow were DBS, Singapore Exchange (SGX), Sats, UOB, Jardine Cycle & Carriage, Seatrium, Mapletree Industrial Trust, OCBC, Singtel and Singapore Technologies Engineering.

Leading the net institutional outflow were Genting Singapore, Yangzijiang Shipbuilding Holdings, Jardine Matheson Holdings, Capitaland Integrated Commercial Trust, Mapletree Logistics Trust, Golden Agri-Resources, City Developments, Singapore Airlines, UOL Group and ComfortDelGro Corporation.

The five trading sessions also saw more than 60 director interests and substantial shareholdings filed for over 30 primary-listed stocks. Directors or chief executives filed 20 acquisitions and nine disposals, while substantial shareholders filed seven acquisitions and five disposals.

UOL Group

Between Aug 15 and 16, Wee Investments acquired two million shares of UOL at an average price of S$5.21 per share. This increased the deemed interests of both UOL chairman Wee Ee Lim and director Wee Ee-Chao. Wee Ee Lim’s total interest increased from 15.79 per cent to 16.03 per cent. The preceding acquisition was between Jun 27 and 28, with 426,700 shares purchased at an average price of S$5.20 per share.

On Aug 13, the group reported a 3 per cent decline in net attributable profit for its H1 FY2024 (ended Jun 30) to S$130.4 million, mainly due to attributable fair value losses of S$12.2 million compared with fair value and other gains of S$3.3 million for H1 FY2023.

UOL noted that Singapore’s residential property market is expected to remain stable with slower price growth, supported by healthy household balance sheets.

The Singapore-listed property and hospitality group added that office rents are projected to stay resilient despite increased supply, while the retail and hospitality sectors are expected to continue their recovery, driven by strong leasing demand and a tourism rebound. UOL’s overseas hospitality segment is growing with the recent launches of Pan Pacific Jakarta and Parkroyal Serviced Suites Jakarta.

Kingsmen Creatives

On Aug 20, Kingsmen Creatives : 5MZ 0% deputy chairman Simon Ong bought two million shares in a married deal at S$0.26 per share. This increased his direct interest in the leading creator of experiences from 4.48 per cent to 5.47 per cent, and total interest to 24.28 per cent. The group has a network of offices and full-service facilities, serving global clients in segments that include exhibitions, thematic and attractions, retail and corporate interiors, research and design, and experiential marketing.

Ong is one of the group’s two founders, and oversees strategic planning, development, and creative and brand standards, significantly contributing to its growth.

On Aug 12, Kingsmen Creatives reported a H1 FY2024 (ended Jun 30) net profit of S$1.3 million, up from S$600,000 in H1 FY2023, with group revenue increasing by 20.6 per cent to S$173.4 million in H1 FY2024, compared with S$143.8 million in H1 FY2023.

Multi-Chem

Between Aug 15 and 21, Multi-Chem CEO Foo Suan Sai sold 151,300 shares at an average price of S$2.84. This decreased his total interest from 68.81 per cent to 68.65 per cent. It followed disposals the preceding week at an average price of S$2.83 per share. Prior to the sales, his previous transaction on the open market was an acquisition of 9,900 shares on Jun 13 at an average price of S$2.37 per share.

Foo is one of the founding shareholders of Multi-Chem. He has more than 30 years of experience in the printed circuit board industry. He is currently responsible for the overall direction and development of the group.

ValueMax Group

Between Aug 14 and 19, ValueMax Group executive chairman Yeah Hiang Nam purchased 928,300 shares at an average price of S$0.441 per share. This increased his total interest in the pawnbroking, moneylending, and retail and trading of gold and jewellery business, from 85.06 per cent to 85.16 per cent. His preceding acquisitions on the open market were in February, with 2,447,200 shares bought at S$0.353 per share.

On Aug 13, the group reported that its H1 FY2024 (ended Jun 30) revenue increased 51 per cent from H1 FY2023 to S$229.8 million, driven by gains in retail and trading of jewellery and gold, pawnbroking and moneylending. Cost of sales also rose 57 per cent to S$166.3 million, led by an increase in the cost of goods sold for jewellery and gold. The group’s H1 FY2024 gross profit rose 39 per cent from H1 FY2023 to S$63.5 million, with net profit increasing 21 per cent to S$35.9 million.

ValueMax noted that the restructuring exercise of its Malaysian associated companies was completed in May, and Well Chip Group was listed on the Mainboard of Bursa Malaysia on Jul 23. ValueMax added that it will continue to explore acquisition opportunities and suitable locations to grow its network of pawnshops and retail outlets and grow its moneylending business.

Yeah, the founder of the company, is responsible for leading the board’s focus on strategic matters. He has over 50 years of experience dealing with gold and jewellery, and over 30 years in the pawnbroking industry.

He started as a jewellery salesman in 1969, and in 1979 founded Golden Goldsmith Jewellers, which manufactured and wholesaled gold ornaments. In 1989, he also started Ban Soon Pawnshop with other business partners.

Mapletree Logistics Trust

On Aug 19, Mapletree Logistics Trust Management independent non-executive director Lim Joo Boon bought 200,000 units of Mapletree Logistics Trust at S$1.29 per unit. This increased his direct interest in the Apac-focused logistics Reit to 308,659 units.

Lim is an adjunct associate professor at the National University of Singapore Business School and acts as an adviser to the OWW II Private Equity Fund. He began his career with Accenture in 1978, where he held various senior leadership positions in both Accenture Singapore and the Asia-Pacific region.

On Jul 25, the manager of Mapletree Logistics Trust reported that its gross revenue for the first quarter of FY2025 (ended Jun 30, 2024) declined by 0.3 per cent from Q1 FY2024 to S$181.7 million, due to weaker performance in China, an absence of revenue from divested properties, and currency depreciation of the Japanese yen and Chinese yuan.

The manager noted that this was mitigated by higher contributions from properties in Singapore and Hong Kong, and acquisitions completed in Q1 FY2025 and FY2024. While Q1 FY2025 net property income (NPI) fell 0.9 per cent from Q1 FY2024 to S$156.7 million, on a constant currency basis, revenue and NPI would have grown by 2.1 per cent and 1.3 per cent, respectively.

Hong Leong Asia

On Aug 21, Hong Leong Asia executive director Kwek Pei Xuan acquired 145,000 shares at an average price of S$0.74 per share. This increased her direct interest from 0.03 per cent to 0.05 per cent. Kwek is currently the head of sustainability and corporate affairs of Hong Leong Asia, and oversees the group’s strategic direction in its management of environmental, social and governance issues, sustainability reporting framework, and corporate communication.

Her past experiences have included business development, marketing and communications, and investment.

For Hong Leong Asia’s H1 FY2024 (ended Jun 30), revenue increased by 8.5 per cent from H1 FY2023 to S$2.3 billion, driven by robust growth in the powertrain solutions and building materials units. The group’s profitability improvement was also supported by better market conditions in Singapore, Malaysia and China.

Megachem

Between Aug 15 and 16, Megachem managing director Sidney Chew acquired 70,600 shares at S$0.37 per share. This increased his total interest in the one-stop speciality chemical solutions provider from 36.10 per cent to 36.15 per cent.

On Aug 13, the group reported that its H1 FY2024 (ended Jun 30) revenue increased 7.4 per cent from H1 FY2023 to S$65.2 million. With the results, Chew maintained that chemical demand is recovering, with key markets recording higher sales and inventory normalising. He also emphasised that the H1 FY2024 performance reflected the group’s resilience and robust business model, but that future growth depended on external economic and industry factors.

Megachem distributes over 1,000 types of speciality chemicals to more than 2,000 industrial customers, including many well-known multinational companies. The group serves diverse industries such as water treatment, metal finishing, construction, oil and gas, food and beverage, pharmaceuticals, polymers, coatings, electronics and more.

Source: SGX

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

Enjoying this read?

• Subscribe now to the SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.
• Stay up-to-date with our SGX Invest Telegram channel.