Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 30 through to Sep 5, with S$328 million of net institutional inflow. As much as half of the S$328 million in net intuitional inflow was booked on the Aug 30 session, which coincided with the implementation of the August MSCI quarterly index review at the session close. 

Leading the net institutional inflow over the five sessions were DBS Group Holdings, Singapore Telecommunications, United Overseas Bank, Seatrium, Sembcorp Industries, Oversea-Chinese Banking Corporation, Genting Singapore, Yangzijiang Shipbuilding Holdings, Mapletree Pan Asia Commercial Trust and Singapore Exchange. 

Leading the net institutional outflow over the five sessions were SATS, UMS Holdings, Keppel REIT, Best World International, Venture Corporation, Singapore Technologies Engineering, City Developments, Jardine Matheson Holdings, Frencken Group and Wilmar International. 

The five sessions also saw 21 primary-listed companies conduct buybacks with a total consideration of S$19.8 million. Oversea-Chinese Banking Corporation led the buyback consideration tally over the five-sessions, acquiring 600,000 shares at an average price of S$14.73 per share. Digital Core REIT Management also acquired 269,700 units of Digital Core REIT between Sep 4 and 5. Global Investments bought back 1.5 million shares, taking the cumulative percentage of issued shares (excluding treasury shares) acquired on the current mandate to 1.34 per cent. 

The five trading sessions also close to 90 director interests and substantial shareholdings filed for 40 primary-listed stocks. Directors or CEOs filed 24 acquisitions, and three disposals, while substantial shareholders filed eight acquisitions and six disposals. 

Tuan Sing Holdings

Nuri Holdings (S) Pte Ltd has increased its interest in Tuan Sing Holdings from 53.65 per cent prior to Aug 21, to 53.89 per cent as of Sep 4. This has increased the deemed interests of Executive Director and CEO William Liem and Non-Executive and Non-Independent Director Michelle Liem Mei Fung. The 2,010,600 shares acquired between Aug 29 and Sep 4 were transacted at an average price of S$0.227 per share. On Aug 8, Tuan Sing Holdings reported a net loss of S$6.6 million for 1HFY24 (ended June 30), primarily due to lower contributions from Link@896 and operating costs from Batam Opus Bay, while excluding an estimated S$18.5 million gain from the proposed divestment of an asset in Fuzhou. The Group also relayed that the asset enhancement iniative (AEI) of Link@896 is currently in progress and expected to enhance the retail experience with better circulation areas and more open retail spaces with improved visibility upon completion in 2025. Although profit contribution will be negatively impacted during the AEI, the Group anticipates positive contributions from the mall in the second half of next year. Since its Golden Jubilee in 2019, Tuan Sing Holdings has embarked on a transformation from a niche developer to a major regional player in commercial, residential, and hospitality properties across key Asia Pacific cities. 

Aedge Group 

On Aug 30, Aedge Group Executive Chairman and CEO Poh Soon Keng acquired 2,480,000 shares at S$0.21 per share in a married deal with a consideration of S$520,800. This increased his total interest in the Catalist-listed company from 69.98 per cent to 72.32 per cent. Mr Poh’s total interest comprises of an 8.6 per cent direct interest and a 63.68 indirect interest through PTCC Holdings Pte Ltd. 

Mr Poh is also the founder of the Group, and oversees its overall management, operations, and strategic direction. 

Based in Singapore and established in 2000, Aedge Group provides engineering, transportation, and security and manpower services to meet diverse customer needs across various industries. The Group reported on Aug 29, its FY24 (ended June 30) revenue declined by 9.6 per cent due to lower engineering and security services revenue, but the Group improved gross profit and EBITDA in the second half through strategic initiatives and cost optimisation.  The Group also added that its investment property is also generating recurring income. The FY24 net loss after tax decreased from S$2.25 million in FY23 to S$0.59 million in FY24.

Mr Poh noted that despite ongoing macroeconomic volatility, the Group has shown resilience, thanks to the strategic operational efficiency initiatives it implemented in FY23, such as securing high-quality contracts that align with its strengths. He added that the conversion of its first industrial investment property into a dormitory is also progressing well and the Group will continue to explore property investments that complement its business. 

CapitaLand Ascott Trust

On Aug 30, CapitaLand Ascott Trust Management Limited non-executive non-independent director Kevin Goh Soon Keat acquired a principal amount of S$250,000 in CapitaLand Ascott Trust Perpetual Securities. On August 7, DBS Trustee Limited, acting as trustee of CapitaLand Ascott REIT, issued S$150 million in principal amount of 4.60 per cent Subordinated Perpetual Securities, which were listed and quoted on the Singapore Exchange on August 8. Mr Goh is also the CEO of Lodging in CapitaLand Investment and on the board of CapitaLand India Trust Management Pte. Ltd, the Trustee-Manager of CapitaLand India Trust.

Noel Gifts International 

Between Sep 4 and 5, Noel Gifts International Managing Director Alfred Wong Siu Hong acquired 302,800 shares at an average price of S$0.356 per share. With a consideration of S$107,741 this increased his total interest in the leading hampers, flowers, and gifts company from 46.42 per cent to 46.72 per cent. His preceding acquisitions were between Mar 13 and 15, with 99,900 shares acquired at S$0.258 per share, and Dec 13, 2023, with 75,000 shares acquired at S$0.265 per share. The Group's FY24 revenue (ended June 30) decreased by 7.4 per cent from FY23, to S$16.7 million, with a gross profit of S$8.2 million and an improved gross profit margin of 49.2 per cent. After recognising a profit of S$14.2 million from the disposal of its investment property, the Group reported a net profit of S$13.3 million for FY24.

Tai Sin Electric

On Aug 30, Tai Sin Electric executive director and CEO Bernard Lim Boon Hock acquired 200,000 shares at S$0.395 per share. This increased his total interest in the industrial group from 17.70 per cent to 17.74 per cent. Mr Lim has gradually increased his total interest in the company from 14.82 per cent at the end of 2019. 

Tai Sin Electric reported its 2HFY24 (ended June 30) revenue increased 6.87 per cent from 2HFY23, to S$204.9 million, driven by growth across all segments in Southeast Asia. For FY24, the Group's revenue decreased by 5.0 per cent from FY23 to S$400.7 million, with declines in the Electrical Material Distribution and Cable & Wire segments, partially offset by growth in the Test & Inspection segment. This saw the Group’s 2HFY24 net profit increased 61.6 per cent from 2HFY23 to S$7.7 million, while the FY24 net profit decreased 12.3 per cent from FY23 to S$14.7 million.  The Group relayed it is constantly on the lookout for suitable business opportunities to drive sustainable growth in Southeast Asia, capitalising on resilient domestic demand underpinned by the continued development of digital infrastructure and the burgeoning green economy. 

ABR Holdings

Between Aug 30 and Sep 2, ABR Holdings Managing Director Ang Yee Lim acquired 68,400 shares at an average price of S$0.44 per share. This increased his direct interest in the homegrown restaurant operator from 52.25 per cent to 52.29 per cent. His preceding acquisitions were on Aug 22, with 100,000 shares acquired at S$0.449 per share and in January with 175,300 shares acquired at S$0.476 per share. Mr Ang, has served as Managing Director since July 2004, and led the Group to a 13 per cent revenue increase from 1HFY23, to S$64.0 million in 1HFY24, driven by new outlets and improved margins, despite challenging market conditions.

ValueMax Group

On Sep 2, Group Executive Chairman Yeah Hiang Nam acquired 41,800 shares at S$0.45 per share. This increased his total interest in the pawnbroking, moneylending, and retail and trading of gold and jewellery business, from 85.19 per cent to 85.20 per cent. This followed his acquisition of 251,400 shares at the same price between Aug 23 and 27, and acquisition of 928,300 shares at an average price of S$0.441 per share between Aug 14 and 19. 

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.