To The Moon

Institutions were net buyers of Singapore stocks over the five trading sessions through to Aug 24, with S$73 million of net institutional inflow, while 21 primary-listed companies conducting buybacks with a total consideration of S$25.8 million.

UOB $UNITED OVERSEAS BANK LIMITED(U11.SI)$ led the share buyback consideration tally, buying back 360,000 shares at an average price of S$27.93 per share, followed by Sembcorp Industries which bought back 1,095,000 shares at an average price of S$5.35 per share.

Olam Group $Olam Group(VC2.SI)$ also bought back three million shares at an average price of S$1.24 per share.

DBS Group Holdings $DBS GROUP HOLDINGS LTD(D05.SI)$ , Seatrium $Seatrium(S51.SI)$ , OCBC $OVERSEA-CHINESE BANKING CORP(O39.SI)$ , UOB $UNITED OVERSEAS BANK LIMITED(U11.SI)$ , Wilmar International $WILMAR INTERNATIONAL LIMITED(F34.SI)$ , ST Engineering $SINGAPORE TECH ENGINEERING LTD(S63.SI)$ , ComfortDelGro $COMFORTDELGRO CORPORATION LTD(C52.SI)$ , Singapore Exchange $Straits Times Index(STI.SI)$ , CapitaLand Ascendas Reit $ASCENDAS REAL ESTATE INV TRUST(A17U.SI)$ and UMS Holdings $UMS HOLDINGS LIMITED(558.SI)$ led the net institutional inflow over the five sessions.

Meanwhile, leading the net institutional outflow over the five sessions were Singapore Airlines $SINGAPORE AIRLINES LTD(C6L.SI)$ , Singtel $SINGTEL(Z74.SI)$ , Venture Corporation $VENTURE CORPORATION LIMITED(V03.SI)$ , Sembcorp Industries $SEMBCORP INDUSTRIES LTD(U96.SI)$ , Keppel Corporation $KEPPEL CORPORATION LIMITED(BN4.SI)$ , Lendlease Commercial Reit $Lendlease Global Commercial REIT(JYEU.SI)$ , Sats $SATS LTD.(S58.SI)$ , CapitaLand Commercial Trust $CapLand IntCom T(C38U.SI)$ and OUE Commercial Reit $OUE COMMERCIAL REIT(TS0U.SI)$ .

The five trading sessions saw close to 100 changes to director interests and substantial shareholdings filed for 40 primary-listed stocks. This included 23 company director acquisitions with no disposals filed, while substantial shareholders filed eight acquisitions and four disposals.

Share buybacks by primary listed companies 18 - 24 Aug 2023

Acquisitions were filed for directors or CEOs of Bonvests Holdings $BONVESTS HOLDINGS LTD(B28.SI)$ , China Sunsine Chemical Holdings $China Sunsine Chemical Holdings Ltd.(QES.SI)$ , CSE Global $CSE GLOBAL LTD(544.SI)$ , Envictus International Holdings $YAMADA GREEN RESOURCES LIMITED(BJV.SI)$ , Fortress Minerals $FORTRESS MINERALS LIMITED(OAJ.SI)$ , Huationg Global $HUATIONG GLOBAL LIMITED(41B.SI)$ , IFS Capital $IFS CAPITAL LIMITED(I49.SI)$ , JEP Holdings $JEP HOLDINGS LTD.(1J4.SI)$ , Kim Heng $KIMHENG OFFSHORE&MARINE HLDLTD(5G2.SI)$ , Marco Polo Marine $MARCO POLO MARINE LTD.(5LY.SI)$ , QAF $QAF LIMITED(Q01.SI)$ and Sinostar PEC Holdings $SINOSTAR PEC HOLDINGS LIMITED(C9Q.SI)$ .

On the Thailand blue-chip Singapore Depository Receipts (SDRs) front, all three Thai-underlying SDRs ended higher in the week of Aug 18-24 as the election of a new Thai prime minister lifted investor sentiments.

CP All $CP All NVDR(TCPD.SI)$, the exclusive operator of 7-Eleven convenience stores in Thailand, and Airports of Thailand $Airports of Thailand NVDR(TATD.SI)$ were the best performers over the five sessions.

PTT Exploration & Production $PTT Exploration & Production NVDR(TPED.SI)$ was the top traded SDR over the five sessions and attracted the largest net buying interest by individual investors as prices eased off from highs in the earlier half of August.

1.QAF $QAF LIMITED(Q01.SI)$

Between Aug 17 and Aug 23, QAF joint group managing director and executive director Lin Kejian acquired 1,586,000 shares at an average price of S$0.80 per share. With a consideration of S$1,269,535, this increased Lin’s total interest in QAF from 48.30% to 48.58%.

This followed his acquisition of 450,000 shares at an average price of S$0.79 per share on Aug 15.

Prior to this, his preceding acquisitions were back in late June 2020, with 47,600 shares acquired at an average price of at S$0.78 per share.

QAF reports most of its revenue to the Philippines, which contributed 46 per cent of its first-half FY2023 (ended Jun 30) and FY2022 revenue. Singapore contributed 36 per cent of its H1 FY2023 (ended Jun 30) and FY2022 revenue.

2.JEP Holdings $JEP HOLDINGS LTD.(1J4.SI)$

Between Aug 18 and Aug 23, JEP Holdings executive chairman and CEO Andy Luong acquired 2,021,900 shares at an average price of S$0.302 per share.

With a consideration of S$610,501, this took his direct interest in the Catalist-listed provider of precision machining and engineering services from 0.70% to 1.19%.

Luong holds 15.89% of the issued share capital of UMS Holdings $UMS HOLDINGS LIMITED(558.SI)$ , which in turn holds 73.85% of the issued share capital of the company. This brings his total interest in JEP Holdings to 75.04%.

On Aug 11, JEP Holdings reported a 33.7% decrease in H1 FY2023 (ended Jun 30) revenue from H1 FY2022, primarily attributed to a weaker performance from its equipment manufacturing and precision machining segments, which were impacted by the lower global demand for semiconductors.

3.Sinostar PEC Holdings $SINOSTAR PEC HOLDINGS LIMITED(C9Q.SI)$

Between Aug 18 and Aug 24, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 1.4 million shares at an average price of S$0.138 per share. With a consideration of S$193,681, this increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 57.91% to 58.13%.

He added that Sinostar PEC has made significant progress in optimising its entire value chain and in developing new products to meet customer and market demands.

For its second-quarter FY2023 (ended Jun 30) Sinostar PEC Holdings reported a turnaround net profit of 10.5 million yuan (S$2 million) from a net loss of 6.7 million yuan in Q2 FY2022.

https://www.sgx.com/research-education/market-updates/20230828-qaf-jep-and-sinostar-pec-directors-acquire-more-stocks