Weekly Inflows: Raffles Medical, Wilmar, ValueMax & Wing Tai See Huge Acquisitions
The five trading sessions had almost 80 changes to director interests and substantial shareholdings filed for close to 50 primary-listed stocks. Directors or chief executive officers filed 30 acquisitions and one disposal, while substantial shareholders filed four acquisitions and 11 disposals.
1. $Raffles Medical(BSL.SI)$
Between Feb 27 and 28, Raffles Medical Group executive chairman Loo Choon Yong acquired 4.5 million shares at an average price of S$1.03 apiece. This increased his total interest to 53.27%, from 53.02%.
With the release of the group’s FY23 (ended Dec 31) results on Feb 26, he noted the group is cautiously optimistic in its 2024 outlook. He also said that despite geopolitical and economic headwinds, the group sees a growing demand for quality healthcare services in Singapore and the region.
2. $Wilmar Intl(F34.SI)$
Between Feb 27 and Feb 29, Wilmar International chairman and CEO Kuok Khoon Hong increased his deemed interest in the global agribusiness by 1,167,400 shares. This increased his total interest to 13.65% from 13.63%. HPRY Holdings, Longhlin Asia, Hong Lee Holdings and Jaygar Holdings each acquired 291,850 shares at an average price of S$3.32 per share.
Kuok’s previous acquisition was on Dec 15, with 500,000 shares purchased at an average price of S$3.41 apiece. He has been gradually increasing his total interest in Wilmar since October 2022, when he held 12.94%.
3. $ValueMax(T6I.SI)$
Between Feb 21 and Feb 27, ValueMax Group executive chairman Yeah Hiang Nam acquired 2,447,200 shares at an average price of S$0.353 each.
This increased his total interest in the business – which is principally engaged in pawnbroking, moneylending, and the retail and trading of gold and jewellery – to 83.88% from 83.58%.
4. $Wing Tai(W05.SI)$
Wing Tai Holdings chairman and managing director Cheng Wai Keung has continued to build his deemed interest in the company, through his spouse Helen Chow’s acquisition of shares, which began in September 2023.
Between Feb 23 and Feb 27, Cheng increased his deemed interest in the leading real estate developer and lifestyle retailer by 210,000 shares. He now maintains a 61.46% total interest in the company, compared with 60.92% previously.
As Wing Tai Holdings reported on Feb 6, the group expects buying sentiment for private residential property in Singapore to remain cautious until greater economic confidence returns, and, at the appropriate times, it will release more residential units for sale.
5. $Beng Kuang^(BEZ.SI)$
On Feb 29, Beng Kuang Marine CEO Yong Jiunn Run acquired 1.1 million shares at an average price of S$0.07 per share. With a consideration of S$80,900, this took his direct interest in the company to 4.99% from 4.44%.
On Feb 27, the offshore and marine industries solutions provider reported a positive turnaround for FY23 (ended Dec 31), with a net profit of S$7.4 million. Yong noted that the period had been a transitional year, as the group’s turnaround plan gathered pace on restoring its profitability, deleveraging its balance sheet and simplifying its operations with profitable business divisions.
6. $Intraco^(I06.SI)$
On Feb 27, Intraco executive chairman Mak Lye Mun acquired 225,100 shares for a consideration of S$67,260. At an average price of S$0.299 per share, this took his direct interest to 0.96% from 0.76%. He previously acquired 100,000 shares on Dec 12 at S$0.27 apiece. On Jan 12, he purchased 57,700 shares at S$0.272 each, and on Dec 28, he acquired 200,000 shares at S$0.26 per share.
Intraco is engaged in the distribution and trading of plastic resins and liquor, and the provision of mobile radio infrastructure management services. It is also a leading one-stop provider of passive fire-protection products and services in Singapore.
7. $LHT(BEI.SI)$
On Feb 26, LHT Holdings managing director Yap Mui Kee acquired 61,000 shares at an average price of S$1.05 per share. With a consideration of S$64,050, this took her direct interest in the home-grown pallet manufacturer to 16.64% from 16.53%.
Yap has been gradually increasing her direct interest in the company since August 2021, when it stood at 14.12%. Her preceding acquisitions were on Jan 11 this year, with just 1,400 shares acquired at S$0.865 apiece, and in October 2023, with 238,500 shares acquired at an average price of S$0.819 per share.
https://www.sgx.com/research-education/market-updates/20240304-director-filings-and-buyback-momentum-return
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