INSTITUTIONS were net buyers of Singapore stocks over the five trading sessions through to Sep 14, with S$18.4 million of net institutional inflow, while 24 primary-listed companies conducted buybacks with a total consideration of S$25.9 million.

led the share buyback consideration tally, buying back 1.2 million shares at an average price of S$12.58 per share, followed by which bought back 5.36 million shares at an average price of S$1.13 per share. also bought back 365,000 shares at an average price of S$5.12 per share.

Leading the net institutional outflow over the five sessions were Singapore Telecommunications, Genting Singapore, Seatrium, Jardine Cycle & Carriage, Frasers Logistic & Commercial Trust, Oversea-Chinese Banking Corporation, SATS, Digital Core REIT, Mapletree Pan Asia Commercial Trust, and Lendlease Commercial REIT.

DBS Group Holdings, United Overseas Bank, Sembcorp Industries, CapitaLand Ascendas REIT, Singapore Technologies Engineering, Singapore Exchange, AIMS APAC REIT, Venture Corporation, Thai Beverage, and ComfortDelGro Corporation Holdings led the net institutional inflow over the five sessions.

The five trading sessions saw 60 changes to director interests and substantial shareholdings filed for close to 30 primary-listed stocks. This included 13 company director acquisitions with no disposals filed, while substantial shareholders filed nine acquisitions and two disposals.

Wilmar International

Between Sept 8 and 11, chairman and CEO, Kuok Khoon Hong, increased his deemed interest in the global agri-business from 13.40 per cent to 13.42 per cent.

This saw Jaygar Holdings acquire 150,000 shares, Longhlin Asia buy 653,250 shares and Hong Lee Holdings add 653,250 shares. The 1,456,500 shares were all purchased at S$3.66 per share.

Kuok’s preceding acquisition was on Aug 25, with 877,100 shares purchased at an average price of S$3.55.

GHY Culture & Media Holding Co

(GHY), is a leading player in the media and entertainment industry and has produced several dramas and films in China, Singapore and Malaysia that have been broadcast and/or distributed on major TV networks and leading video streaming platforms in China.

On Sep 12, Kang Ru Investments (Kang Ru) entered into a share transfer agreement with a third-party seller (seller), where Kang Ru agreed to purchase from the seller 41,990,000 ordinary shares in GHY, for a consideration of 80 million yuan. Pursuant to Section 4(7) of the Securities and Futures Act 2001 (SFA), Kang Ru is deemed to have an interest in the 41,990,000 shares.

Da Yuan Developments (Da Yuan) is the sole shareholder of Kang Ru. Vistra Trust (Singapore) is the sole shareholder of Da Yuan and is the trustee of the Guo Yue Family Trust which is a discretionary trust. The shares held by Kang Ru are assets of the Guo Yue Family Trust. As at the date of this notification, the beneficiaries of the Guo Yue Family Trust are GY Media & Entertainment Limited, executive chairman and group CEO Guo Jingyu and executive director Yue Lina (including the minor child of Guo Jingyu and Yue Lina).

The acquisition takes Kang Ru’s direct interest in GHY from 59.60 per cent to 63.51 per cent.

For the group’s latest half year results, revenue surged 58 per cent to S$32.7 million with H1FY23 (ended Jun 30) gross profit increasing by 110 per cent from H1FY22 to S$10.6 million. Eyeing turnaround and profitability in FY23, the group has entered into various production collaborations with leading streaming service providers in China (such as iQIYI, Tencent Video, and others) and expects a stronger pipeline of new drama productions for FY23 and FY24.

In addition, it intends to expand its concert production business activities for FY23 and FY24. On Sep 11, GHY announced that Beijing Changxin Film & Media, which is an indirect associated company of GHY, had entered into two cooperation agreements to invest in a series of Jay Chou’s Carnival World Tour concerts in China that were held in August 2023 and that will be held in September 2023.

GHY has the rights to undertake the production of concerts for Jay Chou in Singapore, Malaysia, Australia, Thailand, Japan, and China (excluding Hong Kong and Macau) either on a long-term basis or without any expiry date.

QAF

On Sep 12, joint group managing director and executive director Lin Kejian acquired 344,200 shares at an average price of S$0.804 per share. With a consideration of S$276,737, this increased his total interest in QAF from 48.76 per cent to 48.82 per cent.

It followed his acquisition of 1,018,200 shares at S$0.815 per share between Aug 25 and 29. Lin has been filing acquisitions in the stock since Aug 15, prior to which his preceding acquisitions were made back in late June 2020.

Ho Bee Land

Between Sept 7 and 12, CEO and executive director Nicholas Chua acquired 120,000 shares at an average price of S$1.840 per share. With a consideration of S$220,810 this took his direct interest in the pioneer developer from 0.46 per cent to 0.48 per cent.

For its H1FY23 (ended Jun 30), Ho Bee Land recorded a 19 per cent increase in profit from operations, before fair value changes, of S$159.9 million. Despite the strong operating performance, the group recognised a net loss after tax of S$155.7 million for H1FY23, compared to a net profit after tax of S$149.9 million in H1FY22.

This was primarily due to the unrealised fair value loss of S$208.3 million for the London portfolio and the higher interest costs of S$76.3 million in H1FY23 compared to S$33.2 million in H1FY22. Notwithstanding this, the group generated a net positive operating cash flow of S$77.4 million during the period.

Chua noted that the occupancy rate of Ho Bee Land’s commercial portfolio is above 95 per cent with its Sentosa Cove projects generating S$285 million in sales in the H1FY23.

He added that the group is on track to complete Elementum, its biomedical development at one-north, in Q4FY23, with the building approximately 90 per cent pre-committed and expected to contribute to the group’s revenue in FY24.

Headquartered in Singapore, Ho Bee Land has property investments and developments in Singapore, Australia, China, the United Kingdom, and Germany.

Chua was appointed CEO and executive director in January 2022. He joined the group in 2002 and held several senior management positions prior to his current appointment.

Over the past 20 years, he has been instrumental in leading the growth of the group’s development footprint in Australia and China, as well as the investment portfolio in Europe and the UK. As CEO, he is responsible for the development and implementation of the group’s overall strategies and policies, as well as the management of its development and investment portfolios.

Union Steel Holdings

On Sep 12, executive director Ang Yew Chye acquired 45,000 shares at S$0.95 per share. With a consideration of S$42,750, this increased his direct interest in the multi-business investment holding company from 10.92 per cent to 11.04 per cent. It followed his acquisition of 41,500 shares at S$0.90 per share on Sep 4, and 39,500 shares at S$0.86 per share between Aug 29 and 30.

Ang is responsible for the day-to-day operations and management of the companies and has more than 30 years of experience in the scrap metal recycling business.

Tai Sin Electric

Between Sep 7 and 13, chairman, non-executive and non-independent director, Bobby Lim Chye Huat acquired 51,000 shares at S$0.40 per share. With a consideration of S$20,400 this increased his interest in Tai Sin Electric from 6.61 per cent to 6.63 per cent.

On Aug 28, Tai Sin Electric reported FY23 (ended Jun 30) group revenue of S$421.7 million in the current financial year, up by 11.3 per cent in FY22. At S$280.228 million for FY23, the cable & wire segment’s revenue increased by 20.6 per cent from FY22.

This increase came from Singapore, Malaysia, and Vietnam’s cable & wire segment, primarily driven by higher sales volume as both public and private sector construction activities continued to recover. In addition, FY23 sales were boosted by revenue contribution from a newly acquired Malaysian subsidiary.

Looking forward, the group noted that it will continue to focus on executing its strategy and is constantly on the lookout for suitable business opportunities in South-east Asia where demand is expected to remain resilient.

The group reiterated that growing investment in digital infrastructure and rapid adoption of emerging technologies, such as artificial intelligence, will present opportunities for it to support the growth of the digital economy. It also believes that the collective commitment of industry participants to decarbonise transportation has fuelled the growth of the electric vehicle ecosystem that will pave the way to strengthen its involvement in a sustainable economy.

Inside Insights is a weekly column on The Business Times, read the original version.