To The Moon

The five trading sessions saw over 100 changes to director interests and substantial shareholdings filed for 50 primary-listed stocks. Directors or CEOs filed 35 acquisitions and one disposal while substantial shareholders filed 10 acquisitions and two disposals.

Director filings and buybacks continue at stronger pace

1.Wilmar International

Between Mar 1 and 5, $Wilmar Intl(F34.SI)$ chairman and CEO Kuok Khoon Hong increased his deemed interest in the global agri-business by 2,172,600 shares. This increased his total interest from 13.66% to 13.70%.

HPRY Holdings, Longhlin Asia, Hong Lee Holdings and Jaygar Holdings each acquired 543,150 shares at an average price of S$3.33 per share. Kuok has been gradually increasing his total interest in Wilmar International from 12.94% in October 2022.

2.Raffles Medical Group

Between Feb 29 and Mar 6, $Raffles Medical(BSL.SI)$ executive chairman Loo Choon Yong acquired 6.4 million shares at an average price of S$1.02 per share. This increased his total interest from 53.27% to 53.61%. This followed his acquisition of 4.5 million shares between Feb 27 and 28.

On Feb 26, Raffles Medical Group reported FY 2023 (ended Dec 31) revenue of S$706.9 million, 14.1% lower than that for FY 2022. The group’s core hospital services division remained strong and profitable, registering revenue growth of 4.5% to S$330.6 million, while the group’s healthcare services division revenue registered lower revenue of S$283.4 million.

3.JB Foods

Between Feb 29 and Mar 6,  $JB Foods(BEW.SI)$ CEO Tey How Keong acquired 885,500 shares at an average price of S$0.49 per share. With a consideration of S$437,161, this increased his total interest in the global cocoa ingredient producer from 46.93% to 47.22%. His preceding acquisition was on Mar 2, 2023, with 120,800 shares acquired at S$0.50 per share.

With his 25 years plus of experience in the cocoa business, Tey is responsible for the overall strategic, management and business development of the group. On Feb 28, the group reported its FY 2023 (ended Dec 31) profit after tax decreased to US$1.8 million, from US$16.7 million in FY 2022.

4.Centurion Corporation

Following  $Centurion(OU8.SI)$ ’s release of its FY 2023 (ended Dec 31) financial results after the Feb 28 close, executive director and joint chairman David Loh Kim Kang and CEO Kong Chee Min increased their direct interests in the company.

On Feb 29, David Loh acquired 1.25 million shares at S$0.425 per share, which increased his direct stake from 5.28% to 5.43%. His total interest in the accommodation developer and manager is 56.09%, with deemed interests mostly through his 50% shareholding interest in Centurion Global.

On Mar 1, Kong acquired 72,000 shares, also at an average price of S$0.425 per share. This increased his direct interest from 0.02% to 0.03%.

Kong was appointed Group CEO in August 2011. He is responsible for the overall management of the group’s operations, implementation of business strategies and the long-term growth objectives approved by the Board.

5.Boustead Singapore

Between Mar 4 and 5,  $Boustead(F9D.SI)$ chairman and group CEO Wong Fong Fui acquired 192,000 shares of the listed company for a consideration of S$170,891. At an average price of S$0.89 per share, this took Wong’s deemed interest in the listed company from 43.16% to 43.20%.

6.Rex International

Between Mar 4 and 5,  $Rex Intl(5WH.SI)$ executive director and chairman Dan Broström acquired 991,000 shares at an average price of S$0.14 per share. This took Broström’s total interest in the technology-driven oil company from 0.87% to 0.94%. His preceding acquisition on the open market was back in December 2019 at S$0.17 per share.

7.PropNex

Between Feb 28 and Mar 1,  $PropNex(OYY.SI)$ executive director and deputy CEO Kelvin Fong Keng Seong acquired 100,000 shares at an average price of S$0.88 per share. This increased his total interest in Singapore’s largest listed real estate group from 8.88% to 8.90%. His preceding acquisitions were in May and June last year.

https://www.sgx.com/research-education/market-updates/20240311-director-filings-buybacks-continue-stronger-pace