Weekly Inflows: Raffles Medical, CityDev, Stamford Land and Hiap Hoe directors acquire stock
The five trading sessions saw close to 100 director interests and substantial shareholdings filed for 50 primary-listed stocks. Directors or chief executives filed 28 acquisitions, and one disposal, while substantial shareholders filed 11 acquisitions and seven disposals.
Real estate directors building up their company stakes
1. $Raffles Medical(BSL.SI)$
Between May 31 and Jun 5, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.3 million shares at an average price of S$1.02 per share.
This increased his total interest from 54.29% to 54.41%. Since, late February, Loo has been gradually increasing his total interest in the stock from 53.02%.
2. $CityDev(C09.SI)$
On Jun 3, CDL Independent non-executive director Chong Yoon Chou purchased 40,000 shares at S$5.62 per share.
On May 31, CDL independent non-executive director Colin Ong Lian Jin acquired 100,000 shares at S$5.80 per share. Ong is the founder of Advisors’ Clique and executive senior director of Great Eastern Financial Advisers, a position he has held since 2011.
3. $Stamford Land(H07.SI)$
Stamford Land Corporation executive chairman Ow Chio Kiat increased his total interest in the company from 45.78% to 45.86%, acquiring 1,257,300 shares at an average price of S$0.39 per share between May 27 and Jun 4.
Ow also increased his total interest in Singapore Shipping Corporation, where he also serves as executive chairman. He increased his interest in the shipping group from 42.97% on May 27 to 43.04% on Jun 5.
4. $Hiap Hoe(5JK.SI)$
On Jun 4, Hiap Hoe executive chairman Teo Ho Beng acquired 500,000 shares at S$0.63 per share. With a consideration of S$315,000, this increased his total interest in the regional premium real estate group from 74.86% to 74.97%.
5. $Centurion(OU8.SI)$
Between Jun 3 and 4, Centurion Corporation executive director and joint chairman David Loh Kim Kang bought 538,600 shares at an average price of S$0.532 per share, which increased his direct stake from 5.43% to 5.49%.
His preceding acquisition was on Feb 29, when he bought 1.25 million shares at S$0.425 per share.
His total interest in the specialised accommodation developer and manager is now 56.15%, with deemed interests mostly through his 50% shareholding interest in Centurion Global.
6. $Hong Lai Huat(CTO.SI)$
On May 30, Hong Lai Huat Group deputy chairman and CEO Ong Bee Huat acquired five million shares at an average price of S$0.04 per share. With a consideration of S$200,000 the married deal increased his total interest in the real estate and property developer from 42.33% to 43.30%.
https://www.sgx.com/research-education/market-updates/20240610-real-estate-directors-building-their-company-stakes
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