To The Moon

Over the four sessions through to the 7 May close, 16 primary-listed companies conducted buybacks with a total consideration of S$16.1 million.

At the same time, more than 90 director interests and substantial shareholdings were filed for more than 40 primary-listed stocks. Directors or CEOs reported 12 acquisitions and 13 disposals, while substantial shareholders recorded 10 acquisitions and two disposals.

1. $Avi-Tech Hldg(1R6.SI)$

On 6 May, Avi-Tech Holdings shares were transacted through a married deal in which Global Wave Venture acquired 51,142,766 shares, representing 29.9% of the company, from founder Lim Eng Hong and his related parties for total consideration of S$17.0 million.

This marked a shift in control at the listed entity and introduces a new strategic shareholder, resetting the ownership base for the next phase of capital allocation and positioning.

The transaction is accompanied by a leadership transition at the listed company. Mr Lim, who founded Avi-Tech in 1981, stepped down as Executive Director, CEO and Executive Chairman, while Alvin Lim Tai Meng resigned as Executive Director and Chief Operating Officer. Both remain with the operating subsidiary Avi-Tech Electronics, continuing as CEO and Chief Operating Officer respectively, preserving execution continuity despite the reset at board level.

2. $Beng Kuang(BEZ.SI)$

On 6 May, Amova Asset Management and Tokio Marine Life Insurance Singapore as well as oil & gas veteran Mr Tan Kim Seng, alongside other investors, acquired 9.98 million shares for S$4.8 million that were divested by one of Beng Kuang Marine founder's Chua Meng Hua.

The Company's Executive Chairman acquired 578,286 shares and the CEO took 500,000 shares. Beng Kuang Marine said the sale reflects the founder stepping back from an executive role, with ownership rotating into institutional and management hands. It added that the shareholder base broadened, liquidity improved and management alignment increased as the Group continues to execute on offshore lifecycle services supported by a growing base of recurring work.

On 26 February, Beng Kuang Marine announced the proposed acquisition of the remaining 49% stake in ASOM, which already anchors the Group’s earnings base, with FY25 revenue of about S$75 million against Group's revenue of S$98 million, and standalone profit after tax of around S$14.9 million. The acquisition does not change revenue, which is already consolidated, but increases earnings attributable to shareholders through the removal of minority interests. Based on FY25, this lifts attributable profit by roughly S$7 million, with no change to the underlying operating base.

3. $ASTI(575.SI)$

ASTI Holdings announced that its Executive Chairman and CEO, Eddie Ng Yew Nam, acquired 40.0 million shares on 6 May at S$0.09 per share via an off‑market transaction, committing S$3.6 million and increasing his direct stake to 15.65% from 10.54%.

The acquisition was executed at a 4.25% discount to the last traded price prior to the trading halt and establishes him as the controlling shareholder. 

Mr Ng previously founded iTrue Technologies in 2005 and with experience in semiconductor inspection and manufacturing systems and prior involvement with ASTI’s operating subsidiaries before taking on the CEO role in January 2024.

4. $Fuxing China(AWK.SI)$

Fuxing China's CEO, Hong Shao Lin, increased his deemed interest in the company through a series of on market transactions on 4 and 5 May 2026. Across four trades, he acquired a total of 87,000 shares for S$81,085, raising his deemed shareholding to 0.43% of issued share capital. The purchases were conducted via the open market and increase the CEO’s ownership in the company.

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