Weekly Inflows: UHReit, Aztech, Marco Polo, USH & YKGI See Huge Acquisitions

Share buybacks

There were 18 companies conducting share buybacks over the five trading sessions through to May 18, with a total consideration of S$40.6 million, following the S$22.2 million filed for the preceding five sessions.

Director and substantial shareholder transactions

The five trading sessions saw 130 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks.

This included 13 company director acquisitions with five disposals filed, while substantial shareholders filed six acquisitions and four disposals.

Share buybacks by primary listed companies 12 - 18 May 2023

1.United Hampshire US Reit $UtdHampshReitUSD(ODBU.SI)$

On May 17, the CEO of United Hampshire US Reit Management, Gerard Yuen Wei Yi, acquired 200,000 units in United Hampshire US Reit (UHReit) at US$0.45 per unit.

This represents a 0.035% interest in Asia’s first US grocery-anchored shopping centre and self-storage real estate investment trust (Reit).

On May 12, the manager of UHReit announced that its gross revenue and net property income for the first quarter of FY23 (ended Mar 31) rose 11.8% and 13.5% from Q1 FY22, to US$18.1 million and US$12.9 million, respectively.

2.Aztech Global $Aztech Gbl(8AZ.SI)$

On May 16, Aztech Global executive chairman and CEO Michael Mun Hong Yew acquired 500,000 shares at S$0.70 per share.

With a consideration of S$350,000, the purchase increased his deemed interest in the technology enabler from 70.24% to 70.30%.

With more than 45 years of experience in the electronics industry, Mun is responsible for steering the group’s strategic growth.

For Q1 FY23 (ended Mar 31) Aztech Global reported revenue of S$161.6 million, a 26.3% improvement from Q1 FY22.

This was mainly driven by a 27.7% increase in sales of IoT devices and data-communication products, with the segment achieving revenue of S$158.0 million in Q1 FY23, contributing 97.8% of the group’s total revenue.

3.Marco Polo Marine $MARCO POLO MARINE LTD.(5LY.SI)$

On May 12, Marco Polo Marine Group CEO Sean Lee Yun Feng acquired one million shares of the marine logistic group for a consideration of S$44,000.

At S$0.044 per share, the acquisition took Lee’s total interest in Marco Polo Marine from 4.56% to 4.57%. His preceding acquisition was back on Jan 12, with 2.5 million shares acquired at S$0.04 per share.

Lee’s acquisition of one million shares followed Marco Polo Marine reporting its first-half FY23 (ended Mar 31) revenue doubled to S$55.9 million, from S$27.6 million in H1 FY22.

4.ARA US Hospitality Trust $ARA US HOSPITALITY TRUST(XZL.SI)$

On May 15, ARA Trust Management (USH) non-independent, non-executive director Lin Daqi acquired 58,000 stapled securities in ARA US Hospitality Trust (ARA H-Reit) at US$0.345 per stapled security.

Lin maintains a 0.015% direct interest in ARA H-Reit, which is a hospitality stapled group comprising ARA US Hospitality Property Trust and ARA US Hospitality Management Trust.

ARA H-Reit invests in income-producing real estate assets used primarily for hospitality purposes located in the US and maintains a portfolio currently comprising 37 select-service hotels with a total of 4,826 rooms across 19 states in the country.

Lin is currently the investment manager of Haiyi Holdings, and is responsible for the evaluation and execution of the group’s investments across industries and geographies.

5.YKGI $YKGI(YK9.SI)$

On May 16, YKGI executive chairman and executive director Seah Boon Lock acquired 37,100 shares at an average price of S$0.136 per share.

With a consideration of S$5,046, this increased his deemed interest in the Catalist-listed food-and-beverage (F&B) player from 76.91% to 76.92%.

This followed his acquisition of 350,000 shares at an average price of S$0.144 per share between May 4 and May 10.

Seah has more than 30 years of relevant experience in the F&B industry and was a founder of the group.

https://www.sgx.com/research-education/market-updates/20230522-aztech-global-executive-chair-adds-stake

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