Weekly | 1D4, F17, 5UF, H07, T24, OU8, M44U, N01, QZG, 41B, WYO & ALK lead Buybacks
Over the five sessions through 15 October, close to 90 filings relating to directors’ interests and substantial shareholdings were filed across 40 primary-listed stocks. Directors or CEOs reported 26 acquisitions and five disposals, while substantial shareholders recorded 15 acquisitions and three disposals.
The five sessions through to 15 October saw 29 primary-listed companies conduct buybacks with a total consideration of S$40.9 million. $UOB(U11.SI)$ led the activity with S$14.0 million of buybacks, followed by $Singtel(Z74.SI)$ with S$11.8 million. $Raffles Medical(BSL.SI)$ , $Hong Fok(H30.SI)$ and $Seatrium Ltd(5E2.SI)$ also recorded buyback consideration exceeding S$1.9 million during the period, while $Chuan Hup(C33.SI)$ repurchased 6.14 million shares for S$1.67 million.
Raffles Medical Group has described share buybacks as part of its capital-management framework to enhance shareholder value and improve return on equity, while providing an expedient, effective and cost-efficient way of returning surplus cash to shareholders. The board also noted that repurchased shares may be retained as treasury shares for purposes including employee incentive schemes. At its April 2026 AGM, Raffles Medical Group also highlighted that it had increased its dividend commitment from up to 50% of sustainable profit attributable to shareholders to at least 50% of sustainable profit attributable to shareholders.
Between 8 October and 12 October, $Geo Energy Res(RE4.SI)$ repurchased an aggregate 400,000 shares for S$216,518, extending its cumulative buybacks under the current mandate to 14.04 million shares, or 0.79% of issued shares. $Reclaims Global(NEX.SI)$ repurchased 1.10 million shares for S$222,591, taking cumulative repurchases to 9.52 million shares, or 3.15% of issued shares.
1. $Aoxin Q & M(1D4.SI)$
Q & M Founder’s Deemed Interest Increases to 55.66%
Between 9 October and 15 October, Quan Min Holdings Pte. Ltd. acquired an aggregate 10.53 million Q & M Dental Group (Singapore) shares on-market for S$5.80 million. The acquisitions comprised 2.72 million shares on 9 October for S$1.48 million, 1.52 million shares on 12 October for S$841,035, 1.20 million shares on 13 October for S$663,754, 1.40 million shares on 14 October for S$772,002 and 3.68 million shares on 15 October for S$2.04 million. The purchases increased Quan Min Holdings' direct interest to 55.65% from 54.54% previously.
As a result, Dr Ng Chin Siau, Non-Independent Executive Director and Group Chief Executive Officer of Q & M Dental Group (Singapore), reported an increase in his deemed interest to 55.66% from 54.55% previously. The deemed interest arises from shares held by Quan Min Holdings Pte. Ltd., while Dr Ng also maintains a direct interest of 28,900 shares.
2. $GuocoLand(F17.SI)$
GuocoLand Chairman Further Increases Deemed Interest
Between 7 and 12 October, Quek Leng Chan, Chairman and Non-Independent Non-Executive Director of GuocoLand, acquired a deemed interest in an aggregate 737,600 shares through open-market purchases by GuoLine Group Management Company. The shares were acquired for S$1.64 million, or S$2.23 per share, increasing his deemed interest to 71.94% from 71.87% previously.
3. $Aspial Lifestyle(5UF.SI)$
Aspial Lifestyle Chairman Continues Stake Building
Between 9 October and 15 October, Koh Wee Seng, Chairman and Non-Executive Director of Aspial Lifestyle, acquired an aggregate 3.13 million shares on-market for S$986,400, at an average price of approximately S$0.315 per share. The purchases increased his direct interest to 10.38% from 10.22% previously, while his total interest increased to 76.05% from 75.89%. His deemed interest remained unchanged at 65.67%.
4. $Stamford Land(H07.SI)$
Stamford Land Executive Chairman Continues Accumulating Shares
Between 7 October and 9 October, Ow Chio Kiat, Executive Chairman of Stamford Land Corporation, acquired an aggregate 1,239,600 shares on-market at S$0.47 per share, for a total consideration of S$582,612. The purchases increased his direct interest to 43.22% from 43.14% previously, while his total interest increased to 46.95% from 46.87%.
5. $Tuan Sing(T24.SI)$
Tuan Sing Directors’ Deemed Interests Increase Above 60%
On 9 and 12 October, Nuri Holdings acquired 1 million Tuan Sing Holdings shares on-market for S$272,426. The purchases comprised 517,600 shares at an average price of approximately S$0.268 per share and 482,400 shares at approximately S$0.277 per share, increasing Nuri Holdings’ direct interest to 55.01% from 54.97%.
As a result, William Liem, Chief Executive Officer and Executive Director, and Michelle Liem Mei Fung, Non-Executive and Non-Independent Director, each reported an increase in deemed interest to 60.20% from 60.12%. Their deemed interests arise from shares held by Nuri Holdings and Greenpark Investments.
6. $Centurion(OU8.SI)$
Centurion Joint Chairmen Add Shares
On 9 October, Loh Kim Kang David, Executive Director and Joint Chairman of Centurion Corporation, acquired 200,000 shares on-market for S$271,218, increasing his total interest to 48.34% from 48.32% previously.
On 14 October, Han Seng Juan, Non-Executive Director and Joint Chairman of Centurion Corporation, acquired 75,000 shares on-market for S$98,500, increasing his total interest to 44.43% from 44.42% previously.
7. $Mapletree Log Tr(M44U.SI)$
Mapletree Logistics Trust Independent Director Establishes Unitholding
On 6 October, Ching Wei Hong, Independent Non-Executive Director of Mapletree Logistics Trust Management, acquired 100,000 units of Mapletree Logistics Trust on-market at S$1.09 per unit, for a total consideration of S$109,000. The purchase established a direct interest of 0.002% in the trust.
8. $NeraTel(N01.SI)$
Nera Executive Chairman Continues Accumulating Shares
Between 6 October and 13 October, Steve Chu Fu-Chuan, Executive Chairman of Nera Telecommunications, acquired an aggregate 455,900 shares on-market for S$77,960, at an average price of approximately S$0.171 per share. The purchases comprised 150,000 shares on 6 October at S$0.174 and S$0.175 per share, 113,300 shares on 8 October at S$0.170 per share, 27,000 shares on 9 October at approximately S$0.174 per share, 2,000 shares on 12 October at S$0.170 per share and 158,600 shares on 13 October at S$0.170 per share. His direct interest increased to 1.327% from 1.201% previously.
9. $Accrelist Ltd(QZG.SI)$
Accrelist Executive Chairman and Managing Director Increases Direct Interest
On 12 October, Terence Tea Yeok Kian, Executive Chairman and Managing Director of Accrelist, acquired 500,000 shares on-market for S$66,525, or approximately S$0.133 per share. The purchase increased his direct interest to 28.48% from 28.32% previously, while his total interest increased to 29.84% from 29.68%. His deemed interest remained unchanged at 1.36%, arising from shares held by his spouse, Aileen Sim.
10. $Huationg Global(41B.SI)$
Huationg Global CEO Increases Direct Interest
On 9 October, Ng Kian Ann Patrick, Executive Director and Chief Executive Officer of Huationg Global, acquired an aggregate 63,800 shares on-market for S$31,631, at an average price of approximately S$0.496 per share. The purchases increased his direct interest to 7.94% from 7.91% previously, while his total interest increased to 72.81% from 72.78%. His deemed interest remained unchanged at 64.87%, arising from shares held by Dandelion Capital.
11. $Metrocon(WYO.SI)$
Metrocon Chairman Raises Direct Interest
On 8 October, Alvin Lim Yee Hong, Non-Executive and Non-Independent Chairman of Metrocon Holdings, acquired 100,000 shares on-market for S$21,000, or S$0.21 per share. The purchase increased his direct interest to 0.3% from 0.2% previously, while his total interest increased to 64.3% from 64.2%. His deemed interest remained at 64.0%.
Subsequently, on 9 October and 13 October, LBD Engineering, Metrocon's controlling shareholder, acquired an aggregate 246,300 shares on-market for S$50,520, increasing its direct interest to 64.2% from 64.0% previously. Alvin Lim Yee Hong holds a 46.1% interest in LBD Engineering, while his father, Lim Ban Dian, holds the remaining 53.9% interest.
12. $All-Link A&S(ALK.SI)$
All-Link CEO Adds to Direct Interest
Between 8 October and 14 October, Peter Neo Lip Pheng, Executive Director and Chief Executive Officer of All-Link Air & Sea, acquired an aggregate 44,300 shares on-market for S$19,932, at an average price of approximately S$0.45 per share. The purchases increased his direct interest to 0.14% from 0.11% previously.
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Singapore’s latest filings reveal a trend: directors and CEOs reported 26 acquisitions, while 29 companies conducted S$40.9 million in share buybacks over five sessions through 15 October.
The standout is $Aoxin Q & M(1D4.SI)$, where founder-related holdings rose to 55.66%. $GuocoLand(F17.SI)$ chairman Quek Leng Chan also increased his deemed interest. These moves suggest confidence, but insider buying alone cannot prove a stock is undervalued.
Meanwhile, $UOB(U11.SI)$ and $Singtel(Z74.SI)$ led buybacks, spending S$14 million and S$11.8 million respectively. Buybacks can support shareholder returns, particularly when companies repurchase shares below intrinsic value.
My take: Insider accumulation becomes compelling when it aligns with improving earnings, healthy cash flow and reasonable valuations. Follow the money, but verify the fundamentals. A chairman buying shares is a clue; sustainable profits are the real evidence
@SGX_Stars [微笑]