[SINGAPORE] For the five trading sessions spanning Jan 9 to 15, institutions were net buyers of Singapore stocks, with net institutional inflow of S$208 million. This extended the S$63 million in net inflow for the preceding five sessions.
Stocks that had the highest net institutional inflow included OCBC , Hongkong Land , ST Engineering , UOL Group , Singapore Exchange (SGX), CapitaLand Investment , Singtel , Seatrium , Low Keng Huat , and City Developments Ltd .
Meanwhile, DBS , Sembcorp Industries , Singapore Airlines , Yangzijiang Financial , Jardine Matheson , UOB , Frasers Centrepoint Trust , Haw Par Corporation , Thai Beverage , and NTT DC Real Estate Investment Trust led the net institutional outflow.
Share buybacks
Over the five sessions, 19 primary-listed companies conducted buybacks with a total consideration of S$11.5 million.
UOB led the consideration tally with 190,000 shares acquired at an average price of S$36.25 each. This took the number of shares bought back on the current mandate to 19,159,200, or 1.15 per cent of its issued shares (excluding treasury shares) as at the share buyback resolution.
Secondary-listed Hongkong Land repurchased 740,000 shares at an average price of S$7.87 apiece.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Director transactions
Over the five sessions, more than 50 director interests and substantial shareholdings were filed. Across more than 30 primary-listed stocks, directors or chief executive officers reported 11 acquisitions and three disposals, while substantial shareholders recorded six acquisitions and seven disposals.
Low Keng Huat
On Jan 14, Asdew Acquisitions purchased 43,542,000 shares of Low Keng Huat at an average price of S$0.773 apiece. This led to Alan Wang and Asdew Acquisitions becoming a substantial shareholder of the diversified property company, with a 7.29 per cent interest.
Consistent Record also raised its offer price on Low Keng Huat from S$0.72 a share to S$0.78 last week.
Lincotrade & Associates
Between Jan 12 and 13, Lincotrade & Associates substantial shareholder and chief operating officer Tan Chee Khoon increased his direct interest in the interior design and renovation company to 16.75 per cent from 15.92 per cent.
He acquired 1,505,300 shares at S$0.21 apiece. He has been gradually increasing his direct interest since October 2022, when it stood at 13.21 per cent.
He joined the company in March 1999 as a junior site supervisor and rose quickly through the ranks to become site supervisor (August 1999), site coordinator (January 2000), project manager (September 2005), and then general manager (January 2008). He now oversees all tendering and project management activities for the company.
Lincotrade & Associates made its trading debut on the SGX Catalist in August 2022, following a reverse takeover of the listed entity Fabchem China, which resulted in the transfer of the listing.
QAF
QAF joint group managing director and executive director Lin Kejian filed a series of acquisitions from Jan 7 to 13, increasing his total interest to 39.44 per cent from 39.25 per cent previously. The shares were acquired at an average price of S$0.92 apiece.
QAF manufactures and distributes bread, bakery and confectionery products, provides warehousing logistics for food items, and also trades and distributes food and beverages.
It is expected to report its 2025 financial year (ended Dec 31) results at the end of February. Its first-half revenue of S$306.1 million held steady (in constant currency terms) from that in H1 FY2024, though its profit before tax declined 62 per cent to S$6.5 million.
The decrease was attributed to greater foreign currency translation losses, as well as higher operating costs, which included increased operating lease expenses and impairment losses on certain property, plant and equipment in the bakery segment.
The group expects soft consumer sentiment, volatile foreign exchange conditions and elevated cost structures to persist. However, it will continue to mitigate margin pressures through product-mix optimisation, new product launches, as well as operational efficiency initiatives, supported by its strong balance sheet.
QAF maintained a net cash position of S$162.4 million as at the end of H1 FY2025.
XMH
Between Jan 7 and 13, XMH chairman and managing director Tan Tin Yeow acquired 515,000 shares at an average price of S$1.50 each. This increased his direct interest to 65.19 per cent from 64.72 per cent, following his earlier share purchases between Jan 5 and 6.
Tan is a seasoned leader with more than 40 years of experience in marine and industrial engines. Since 2010, he has been driving XMH’s growth through strategic planning, acquisitions and building its distribution arm.
For H1 FY2026 (ended Oct 31), the group’s revenue surged 40.5 per cent on the year and profit after tax rose 23 per cent. The performance was driven by strong demand and a robust order book, supporting a positive outlook.
JEP
Between Jan 13 and 14, JEP executive chairman and CEO Andy Luong acquired 384,600 shares at an average price of S$0.275 per share.
This took his total interest in the Catalist-listed provider of precision machining and engineering services to 79.64 per cent, from 79.55 per cent previously.
He holds 14.04 per cent of the issued share capital of UMS, which in turn holds 79.55 per cent of the issued share capital of the company.
JEP is expected to report its FY2025 (ended Dec 31) results at the end of next month. The group has been operating for more than 30 years and has built up a strong value chain to provide seamless manufacturing solutions to its clients. Its current twin growth engines are aerospace and semiconductors.
For H1 FY2025, JEP reported a 51.6 per cent year-on-year increase in net attributable profit to S$1.6 million, on sales of S$27.3 million.
The steady revenue was supported by stronger precision machining performance despite declines in equipment manufacturing and trading and others. The group enhanced its cost efficiency, leading to a reduction in the cost of sales as well as administrative and selling expenses across the board.
It also highlighted that all its core business segments remained profitable, except equipment manufacturing. It is repositioning that segment towards higher-margin front-end semiconductor production, strengthening synergies with parent UMS Integration and accelerating growth.
The group said the strategic shift focuses on meeting rising demand for products that support artificial intelligence and its related sectors.
Asti
Asti has remained focused on rebuilding its financial position following the substantial losses it recorded in the last financial year.
It announced on Jan 9 that it has entered into an agreement with SAC Capital for the proposed placement of up to 128 million new ordinary shares at an issue price of S$0.025 per share.
The placement shares represent about 19.55 per cent of the existing issued and paid-up share capital of the company, comprising 654,731,486 shares in issue. They will represent around 16.35 per cent of the enlarged number of issued shares upon completion of the proposed placement.
The move is intended to fund Asti’s expansion – such as through new ventures with existing customers – research and development (R&D) on equipment to improve the yield rate for its products, as well as working capital.
The group proposed using 60 per cent of the net proceeds from the placement on business expansion, 30 per cent on R&D, and 10 per cent on working capital.
The writer is the market strategist at SGX. To read SGX’s market research reports, visit sgx.com/research.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
