LC Capital Extends PC Partner Position; Rich Placement

sgx.com07-20

Over the five sessions through the to 16 July close, more than 50 director interests and substantial shareholdings were filed for 20 primary-listed stocks. Directors or CEOs reported seven ...

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This included CEO or director acquisitions filed for HealthBank Holdings, Nam Cheong, Stamford Land Corporation, SunMoon Food Company and UltraGreen.AI. Among the substantial shareholder filings, American Century Investment Management, Inc. has ceased to be a substantial shareholder of Rex International Holding after disposing of 1.593 million shares through a market transaction on 8 July 2026. The disposal reduced its interest in the oil and gas company from 69.03 million shares, or 5.08 per cent, to 67.44 million shares, or 4.96 per cent.Share Buybacks In addition, the five sessions saw 15 primary-listed companies conduct buybacks with a total consideration of S$66 million, led by Singapore Telecommunications buying back 11.8 million shares at an average price of S$4.40 per share. Secondary listed Jardine Matheson also bought back 125,000 shares at an average price of US$61.61.  Kopernik Builds Long-Term Position in Golden Agri-ResourcesKopernik Global Investors, LLC has steadily increased its interest in Golden Agri-Resources over the past three years. Its latest filing saw its deemed interest rise from 6.97 per cent to 7.07 per cent following the acquisition of 13.8 million shares on 10 July 2026 at 27.5 Singapore cents per share. The latest increase extends a position that re-emerged above the substantial shareholder threshold in June 2023. In June 2023, Kopernik acquired 54.2 million shares at 26 Singapore cents per share, increasing its interest from 4.998 per cent to 5.425 per cent. It subsequently increased its stake to 6.07 per cent in June 2025 through the acquisition of 14.2 million shares at 25 Singapore cents per share.The 2026 filing lifts Kopernik's deemed interest to 897.0 million shares. The filing notes the interest is deemed because Kopernik has discretionary disposal power over the shares in its role as investment adviser. The increase follows a period in which Golden Agri-Resources reported resilient operating performance. Its 1QFY26 revenue increased 6 per cent year-on-year to US$3.23 billion, supported by higher downstream merchandising volumes, while gross profit rose 4 per cent to US$450 million. The company also highlighted higher biofuel mandates, constrained vegetable oil supplies and developing El Niño conditions as factors supporting crude palm oil prices. At its April 2026 annual meeting, Golden Agri-Resources noted that artificial intelligence technologies are already being deployed across its operations to enhance efficiency and support management processes. The company also highlighted accelerated replanting and productivity initiatives aimed at improving plantation yields over the coming years. Why it matters: Substantial shareholder disclosures provide a transparent record of institutional conviction. Kopernik's interest has increased from 5.425 per cent in June 2023 to 7.07 per cent in July 2026, reflecting a multi-year accumulation of Golden Agri-Resources shares by a global value-oriented investment manager. PC Partner: LC Capital Extends Deemed Interest above 11%LC Capital Management increased its deemed interest in PC Partner Group from 9.01 per cent to 11.01 per cent across filings on 13 July and 15 July. Its deemed interest increased from 34.96 million shares to 42.73 million shares, reflecting both the addition of a discretionary managed account that came under its investment authority from 13 July and the acquisition of 516,400 shares through a market transaction on 14 July. The latest increase extends a series of stake increases that saw LC Capital become a substantial shareholder on 1 April, before subsequently increasing its interest above the 6 per cent, 7 per cent, 8 per cent and 9 per cent thresholds on 20 April, 7 May, 10 June and 6 July respectively. The 13 July and 15 July filings subsequently lifted its deemed interest above the 10 per cent and 11 per cent thresholds. LC Capital's deemed interest arises from shares held by sub-funds under its discretionary management as well as shares held in discretionary managed accounts over which it exercises investment discretion and voting control. LC Capital's flagship fund is a global long-bias fundamental equity fund benchmarked to the MSCI World Equity Index.Volare Emerges as Substantial Shareholder in BBR HoldingsVolare Group AG emerged as a significant shareholder of BBR Holdings this week through two off-market acquisitions completed on 10 July and 13 July. The Swiss-based investment group acquired a total of 43.0 million shares for S$12.9 million, increasing its direct interest from 1.35 per cent to 14.69 per cent within three days. The first transaction on 10 July saw Volare acquire 13.5 million shares for S$4.05 million, lifting its stake to 5.54 per cent and making it a substantial shareholder. A second acquisition of 29.5 million shares for S$8.85 million on 13 July subsequently increased its interest to 14.69 per cent. Both transactions were conducted off-market. The filings also disclosed that Volare Group AG is 93 per cent owned and controlled by Cielo Holding AG, which is wholly owned and controlled by Daniel Sieber. As a result, both Cielo Holding AG and Daniel Sieber reported corresponding deemed interests in BBR Holding.Independent Director Increases Stake in UltraGreen.AIMr Nicky Tan, an Independent Non-Executive Director of UltraGreen.ai, acquired 25,000 shares in the company through an open market transaction on 13 July for total consideration of S$39,500. The acquisition increased his direct interest from 105,000 shares to 130,000 shares. The purchase followed an earlier open market acquisition on 20 April, when Mr Tan acquired 24,800 shares for US$32,736, increasing his direct interest from 80,200 shares to 105,000 shares. Across the two disclosed transactions, he acquired a total of 49,800 shares. The April and July purchases were completed at average prices of US$1.32 per share and S$1.58 per share respectively. The differing currencies reflect UltraGreen.ai's dual-currency trading structure, with the company maintaining both US dollar and Singapore dollar trading counters on SGX that represent the same underlying shares. Mr Tan is Chairman of the Intellectual Property Office of Singapore (IPOS) and heads nTan Corporate Advisory. Prior to establishing the advisory firm, he held senior corporate finance and financial advisory leadership positions at Arthur Andersen Singapore and ASEAN and PricewaterhouseCoopers Singapore and Asia Pacific. He has also served on the boards of Singapore Telecommunications, Fraser and Neave, Sembcorp Industries and Singtel Optus.HealthBank Holdings: S$2.7 Million Placement to Support New Business and Acquisition OpportunitiesHealthBank Holdings announced on 13 July that it has entered into subscription agreements with three investors for the placement of up to 70.7 million new shares at S$0.0378 per share, raising gross proceeds of approximately S$2.67 million. The company intends to utilise estimated net proceeds of approximately S$2.66 million to finance new businesses, strategic investments, acquisitions and expansion opportunities. The placement follows a two-tranche subscription completed in October 2025 and January 2026 and the receipt of a listing and quotation notice for a separate placement in April 2026. Listed on Catalist, HealthBank has stated that it is focused on growing new businesses, strategic investments and acquisitions as it seeks to generate sustainable long-term shareholder value and diversify its revenue streams. The latest placement will fully utilise the company's shareholder mandate for non-pro-rata share issuances approved at its April 2026 annual general meeting.For FY25 ended 31 December, HealthBank reported revenue of RMB140,000 and a net loss of RMB3.29 million, improving from RMB8.22 million in FY24. The group ended the year with RMB1.68 million in cash and bank balances and net assets of RMB14.1 million.  The company intends to utilise the proceeds to finance new businesses, strategic investments and acquisition and expansion opportunities.Rich Capital Holdings: S$1.28 Million Placement to Fund New Business Opportunities and Working CapitalRich Capital Holdings announced on 15 July that it has entered into a placement agreement for up to 18.0 million new shares at S$0.071 per share, raising gross proceeds of up to S$1.28 million. The issue price represents an 8.97 per cent discount to the volume weighted average price of the shares on 14 July. The company expects net proceeds of approximately S$1.22 million, with 50 per cent intended for new business opportunities including projects, investments, partnerships and acquisitions, and the remaining 50 per cent for general working capital. If fully subscribed, the placement shares will represent 49.03 per cent of the company’s existing issued share capital. Listed on Catalist, Rich Capital Holdings is engaged in property development, property investment, project management and specialist construction services in Singapore and the region. The company stated that the placement will strengthen its financial position, support future growth opportunities, broaden its shareholder base and improve trading liquidity. The proposed placement follows the completion of the disposal of Rich Batam Private Limited and its subsidiary in May 2025. For FY26 ended 31 March, Rich Capital reported revenue of S$1.01 million, compared with S$1.24 million in FY25. The group broke even in FY26 compared with a net loss of S$1.07 million in FY25, supported by a S$1.07 million gain from the disposal of Rich Batam Private Limited and its subsidiary. As of 31 March, equity attributable to owners of the company stood at S$1.90 million, net asset value per share was 5.18 cents and cash and cash equivalents were approximately S$1.73 million.Share Buybacks by Primary-listed Companies by way of Market Acquisition (July 10 to 16)Number of Shares/Units Purchased Buyback Consideration (incl stamp duties & clearing charges) S$   Avg price paid per share S$SINGAPORE TELECOMMUNICATIONS 11,800,00051,940,6174.40UNITED OVERSEAS BANK 259,00011,467,93944.28GEO ENERGY RESOURCES 1,500,000836,0000.56ADDVALUE TECHNOLOGIES 2,579,400355,8110.14CHUAN HUP HOLDINGS 1,308,300339,5010.26FRASER AND NEAVE 200,600287,1251.43THE HOUR GLASS 98,300264,6372.69VALUETRONICS HOLDINGS 188,700203,4641.08STAMFORD LAND CORPORATION 333,500162,5750.49NANOFILM TECHNOLOGIES INTERNATIONAL 125,600148,1831.18OXLEY HOLDINGS 1,700,000126,9790.07SINGAPORE SHIPPING CORPORATION 136,10040,8710.30GLOBAL INVESTMENTS 175,70021,9800.13KARIN TECHNOLOGY HLDGS 50,00012,5400.25LINCOTRADE & ASSOCIATES HOLDINGS 1,9006620.35Total20,457,10066,208,883 Inside Insights is a weekly column on The Business Times, read the original version.Enjoying this read?Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653241068","isCrawlerRequest":true}