Source: SGX

Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 13 to 19, with S$367 million of net institutional inflow, bringing total net inflows from the 15 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 19, to S$1.2 billion. 

These 15 sessions have seen a reversal of more than 90 per cent of the net institutional outflow in Singapore stocks in the 2024 year through to Aug 29. 

Financial Services, Telecommunications, Industrials and REITs have led the net institutional inflow over the 15 sessions spanning Aug 30 to Sep 19. Meanwhile, Consumer Non-Cyclicals, Technology, and Real Estate (excluding REITs) booked the most net institutional outflow over the period. 

Leading the net institutional inflow over the five sessions through to Sep 19 were, DBS Group Holdings, Singapore Telecommunications, Keppel, Oversea-Chinese Banking Corporation, CapitaLand Investment, United Overseas Bank, Suntec REIT, Seatrium, Sembcorp Industries and Singapore Technologies Engineering. 

Leading the net institutional outflow over the five sessions were CapitaLand Ascendas REIT, Frasers Centrepoint Trust, Wilmar International, Frasers Logistics & Commercial Trust, HongkongLand, Yangzijiang Shipbuilding, SATS, Paragon REIT, Lendlease Global Commercial REIT and ESR-LOGOS REIT. 

The five sessions also saw 16 primary-listed companies conduct buybacks with a total consideration of S$9.8 million, like the consideration pace for the preceding week. United Overseas Bank again led the buyback consideration tally over the five-sessions, acquiring 140,000 shares at an average price of S$32.46 per share. Digital Core REIT Management also acquired 2.86 million units of Digital Core REIT between Sep 13 and 17. Seatrium also bought back 1.17 million shares, taking the cumulative percentage of issued shares (excluding treasury shares) acquired on the current mandate to 0.37 per cent. 

The five trading sessions saw 70 director interests and substantial shareholdings filed for more than 30 primary-listed stocks. Directors or CEOs filed 15 acquisitions, and one disposal, while substantial shareholders filed six acquisitions and three disposals. 

UMS Integration 

On Sep 12, UMS Integration Chairman and CEO Andy Luong acquired 600,000 shares at an average price of S$0.983 per share. This increased his deemed interest in the from 15.25 per cent to 15.34 per cent. His preceding acquisition on the open market was on May 16, with 123,600 shares acquired at S$1.07 per share. 

Mr Luong was appointed CEO of the Company in January 2005, having previously served as Chief Operating Officer since April 2004. As the President and Founder of the UMS Group, he maintains over 20 years of experience in manufacturing front-end semiconductor components. He honed his machining skills while working in his family’s business in Vietnam and after emigrating to the United States in 1979, he also started a precision machining business called Long’s Manufacturing, Inc. shortly after completing college.

UMS Integration posted a 1HFY24 (ended June 30) net attributable profit of S$19.1 million on the back of S$109.9 million revenue, benefitting from the international aviation boom and recovery of the semiconductor industry. 

Despite the 34 per cent decline in net attributable profit from 1HFY23, the Group's financial position remains robust, increasing its net cash balance by S$29.9 million to S$74.9 million at the end of June 2024. The net increase in cash and cash equivalents (after netting-off bank borrowings) was primarily driven by proceeds from the Group’s share placement in 1QFY24 and net cash generated from operating activities. Mr Luong noted that despite market turbulence and challenges in the global chip industry, the Group’s performance improved in 2QFY24, with growing gross margins, enhanced product mix, and increased orders from a new major customer in Malaysia. He also added that diversification into Aerospace has also boosted sales and earnings as global air travel accelerates. 

The Group is also in the process of seeking a secondary listing on the Main Market of Malaysia to unlock value for shareholders as the secondary listing will broaden its investor reach and widen its investor base.

Suntec REIT

On Sep 17, ESR Trust Management (Suntec) Limited Chairman and Non-Executive Director Chew Gek Khim acquired 148,000 units of Suntec REIT at S$1.35 per unit. Ms Chew joined the Board of the Manager in January 2014 and was appointed Chairman in April 2014. Since April 2008, she has served as Executive Chairman of The Straits Trading Company. Additionally, Ms Chew holds the position of Executive Chairman at the Tecity Group and Chairman of Malaysia Smelting Corporation Berhad. She also serves as Deputy Chairman of the Tan Chin Tuan Foundation. 

Back in August, the CEO of the Manager, Mr Chong Kee Hiong, stated that the Singapore Office and Retail portfolios experienced robust rent reversions and strong year-on-year growth in the convention business. He added that while the Minster Building in London is expected to achieve full occupancy in 2H24, the leasing pipeline in Adelaide remains weak. 

Mr Chong maintains that Suntec REIT remains focused on enhancing the operating performance of its assets and exploring opportunities to divest mature assets to deliver long-term value to unitholders.

Suntec REIT has booked the eleventh highest institutional inflow this year with S$58.0 million of net inflow, while the overall S-REIT Sector has seen S$899 million of net institutional outflows. 

Centurion Corporation

On Sep 17, Centurion Corporation Executive Director and Joint Chairman David Loh Kim Kang acquired 300,000 shares via a market transaction at S$0.74 per share. This increased his direct stake from 7.87 per cent to 7.91 per cent. His preceding acquisitions were on June 11, with 20 million shares in a married deal at S$0.54 per share, and on June 3 and 4, with 538,600 shares acquired at S$0.53 per share.

His total interest in the specialised accommodation developer and manager is now 58.57 per cent, with deemed interests mostly through his 50 per cent shareholding interest in Centurion Global Ltd. 

Mr Loh is responsible for the formulation of corporate and business strategies and leads the execution of strategic growth plans of the Group and maintains over 20 years of experience in the investment and brokerage industry.  

For its 1HFY24 (ended June 30), Centurion Corporation reported its revenue rose by 27 per cent from 1HFY23, to S$124.4 million, driven by strong occupancies in the Group's purpose-built workers and student accommodation portfolios across Singapore, the UK, and Australia. Additionally, positive rental rate revisions across all operating markets contributed to this growth.

Ho Bee Land

Between Sep 12 and 13, Mdm Ng Noi Hinoy, the spouse of Ho Bee Land executive chairman Chua Thian Poh, acquired 47,700 shares for a consideration of S$88,245. At S$1.85 a share, this increased Dr Chua's deemed interest in Ho Bee Land from 75.58 per cent to 75.59 per cent. Dr Chua founded Ho Bee Group and was appointed as the Group's Chairman and CEO in 1999. In January 2022, he transitioned to the role of Executive Chairman. 

For its 1HFY24 (ended 30 June) Ho Bee Land reported a 48 per cent increase in revenue to S$230.0 million, with a net profit of S$9.5 million, a significant turnaround from the net loss of S$156.3 million in the same period last year. The Group noted that development property sales more than tripled to S$94.7 million, driven by higher sales in Australia and Sentosa Cove, while the commercial portfolio occupancy rate remained high at 95 per cent.

Noel Gifts International 

On Sep 16, Noel Gifts International Managing Director Alfred Wong Siu Hong acquired 163,500 shares at an average price of S$0.359 per share. With a consideration of S$58,743 this increased his total interest in the leading hampers, flowers, and gifts company from 46.72 per cent to 46.88 per cent. This followed his acquisition of 302,800 shares at an average price of S$0.356 per share between Sep 4 and 5. Mr Wong, the founder of Noel Gifts International, has been its Managing Director since its inception. With 50 years of experience in the hamper, flower, and gift business, he oversees strategic planning, financial management, and the Group's growth. Since 1997, Mr Wong has also led the property division, managing property investment and development.

Wing Tai Holdings

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. On Sep 13 Mr Cheng has increased his deemed interest in the leading real estate developer and lifestyle retailer by 20,000 shares. Mr Cheng maintains a 61.53 per cent total interest in the company. 

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

Enjoying this read?

• Subscribe now to the SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.
• Stay up-to-date with our SGX Invest Telegram channel.