Weekly Inflows: Cortina, Wilmar, Raffles Medical, Oiltek, Wing Tai & Bonvests directors raise stakes
The five trading sessions saw more than 70 director interests and substantial shareholdings filed for more than 30 primary-listed stocks. Directors or CEOs filed 21 acquisitions, and two disposals, while substantial shareholders filed six acquisitions and two disposals.
1. $Cortina(C41.SI)$
On Nov 22, Lim Keen Ban Holdings Pte Ltd acquired 1.6 million shares of Cortina Holdings at S$2.90 per share.
This increased its substantial shareholding in Cortina Holdings above the 34% threshold, from 33.74% to 34.70%. Lim Keen Ban Holdings Pte Ltd increased its direct interest above the 33% threshold in April 2024 and above the 32% threshold in Oct 2023.
The acquisition saw Cortina Holdings rank as the twelfth stock that booked the highest net institutional inflow for the five sessions. The Group operate over 40 boutiques in markets such as Singapore, Malaysia, Thailand, Indonesia, Hong Kong, Taiwan and Australia.
2. $Wilmar Intl(F34.SI)$
Between Nov 22 and 28, Wilmar International Chairman and CEO Kuok Khoon Hong increased his deemed interest in the global agri-business by 4,306,300 shares.
This increased his total interest from 14.22% to 14.29%. The shares were acquired between S$3.08 and S$3.04 over the five sessions. Mr Kuok has been gradually increasing his total interest in Wilmar International from 12.94% in October 2022.
3. $Raffles Medical(BSL.SI)$
Between Nov 22 and 27, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.4 million shares at an average price of S$0.859 per share.
This increased his total interest from 55.50% to 55.63%. Since February, Dr Loo has gradually increased his total interest in the stock from 53.02%.
4. $Oiltek(HQU.SI)$
On Nov 25, the Ginko-AGT Global Growth Fund became a substantial shareholder of Oiltek International, with the acquisition of 25,200 shares boosting its direct interest from 4.98% to 5.00%.
The Ginko-AGT Global Growth Fund manager maintains an objective to double its Net Asset Value every four years with an average annual return of 20%. Presently around 75% of the Fund's Assets Under Management are dedicated to long-term, concentrated investments.
5. $Wing Tai(W05.SI)$
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 acquiring shares.
Between Nov 22 and 28, Mr Cheng has increased his deemed interest in the leading real estate developer and lifestyle retailer by 230,000 shares. Mr Cheng maintains a 61.58% total interest in the company.
6. $Bonvests(B28.SI)$
On Nov 25, Bonvests Holdings executive chairman Henry Ngo acquired 101,000 shares at an average price of S$0.90 per share. The acquisitions were made through Allsland Pte Ltd, which is wholly owned by MR Ngo.
His total interest in Bonvests Holdings is 84.75%. His preceding acquisitions were in September and June. Mr Ngo has gradually increased his total interest in the group from 82.93% in August 2018.
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