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[singapore] Over the four trading sessions from Apr 11 to 16, institutions were net buyers of Singapore stocks, with net institutional inflow of S$217 million. This brings the net institutional outflow for the 2025 year to Apr 16 to S$1.8 billion.
Institutional flows
Over the four trading sessions through to Apr 16, the stocks that saw the highest net institutional inflow were Singtel, UOB, ST Engineering, SGX, DBS, ComfortDelGro, Yangzijiang Shipbuilding, Frasers Centrepoint Trust, Singapore Airlines, and Seatrium.
Meanwhile, OCBC, Wilmar International, CapitaLand Integrated Commercial Trust, Venture Corporation, CapitaLand Investment, ESR-REIT, CapitaLand Ascendas Reit, City Developments Limited, iFast Corporation, and Mapletree Pan Asia Commercial Trust led the net institutional outflow over the four sessions.
From a sector perspective, telecommunications and industrials experienced the highest net institutional inflow, while technology and Reits saw the most net institutional outflow. Notably, Singtel booked S$119 million of net institutional inflow over the four sessions following the net flow of S$196 million over the preceding five sessions.
Share buybacks
The four sessions saw 20 primary-listed companies conduct buybacks with a total consideration of S$121.8 million. UOB led the consideration tally, with 1.4 million shares bought back at an average price of S$33.34 a share, followed by DBS, which bought back 700,000 shares at an average price of S$38.19 a share.
Director transactions
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The four trading sessions saw close to 70 director interests and substantial shareholdings filed for more than 30 primary-listed stocks. Directors or CEOs filed 19 acquisitions, and one disposal, while substantial shareholders filed eight acquisitions and one disposal. This included director or CEO acquisitions in Accrelist, Asian Pay Television Trust, Chemical Industries (Far East), Geo Energy Resources, Ho Bee Land, MindChamps PreSchool, Niks Professional, Ocean Sky International, OUE, Sinostar PEC Holdings, ValueMax Group, and Valuetronics Holdings.
Catcher Technology also emerged as a substantial shareholder of UMS Integration, acquiring 950,000 shares at an average price of S$0.994 apiece, taking its deemed interest to 5.12 per cent.
OUE
Between Apr 7 and 11, OUE executive chairman and group CEO Stephen Riady increased his deemed interest from 72.93 per cent to 73.08 per cent. This was through Lippo Assets (International) Limited acquiring 847,000 shares at an average price of S$0.91 per share, and Hongkong Chinese Limited (HCL) acquiring an aggregate of 347,100 shares at an average price of S$0.94 per share. Appointed executive chairman in Mar 2010, his role expanded to include group CEO in January 2020. He has been serving as executive director since November 2006. As group CEO, Dr Riady provides strategic direction and has overall responsibility for the management, organisation, operation, and development of the group and all related matters.
On Mar 25, OUE announced it had entered a joint venture to develop Hotel Indigo Changi Airport with a wholly owned subsidiary of Tokyo Century Corporation (Tokyo Century). The hotel is expected to be completed and fully operational by 2028. OUE was awarded the tender by Changi Airport Group (CAG) for the lease and development of the new hotel at Changi Airport Terminal 2 in April 2024. Tokyo Century is a leading Japanese non-banking financial services company listed on the Tokyo Stock Exchange.
Dr Riady maintains that the joint venture aligns with OUE’s “asset right” strategy to optimise capital deployment and grow its third-party funds under management over time, in addition to paving the way for OUE to build a strategic partnership with Tokyo Century to explore future potential opportunities. He also maintains that the proposed 255-key Hotel Indigo Changi Airport will be Singapore’s first zero-energy hotel, and will feature an innovative sustainability-centric design and cutting-edge energy-efficient solutions, including solar photovoltaic panels, hybrid cooling systems, naturally ventilated corridors, and rainwater harvesting. OUE also said that the development aligns with Singapore’s broader efforts to enhance its sustainable tourism infrastructure, and that it is also in line with the group’s sustainability commitment.
ValueMax Group
Between Apr 7 and 10, group executive chairman of ValueMax Yeah Hiang Nam acquired 1,133,800 shares at S$0.487 per share.
This increased his total interest in the pawnbroking, moneylending and retail and trading of gold and jewellery business to 85.02 per cent, from 84.89 per cent.
Earlier this month, Yeah relayed that the group had demonstrated remarkable strength and resilience throughout 2024, overcoming challenging market conditions to achieve significant loan growth and record exceptional financial results. The group experienced significant loan growth and achieved record financial results, reporting a profit before tax of S$97.6 million for its FY2024 (ended Dec 31), which represented a 53.9 per cent increase from FY2023.
Throughout 2024, the group expanded its core business of pawning gold, diamond jewellery, and branded timepieces, successfully increasing revenue by S$6.2 million. In Singapore, it also acquired pawnbroking and retail businesses in Ang Mo Kio, while in Malaysia, its associated company opened a new outlet, bringing its total to 48 establishments in Singapore and 27 in Malaysia. Additionally, in March 2025, the group acquired two more businesses in Sembawang and Hougang, with its premier service at Waterloo Centre continuing to attract more customers. Its licensed moneylending business also saw revenue growth of S$2.3 million in FY2024, primarily through secured loans to customers with urgent financial needs. Yeah is also the founder of ValueMax Group and is responsible for strategic directions and overseeing its business. With over 50 years of experience in gold and jewellery and over 30 years in the pawnbroking industry, he began as a jewellery salesman in 1969 and founded Golden Goldsmith Jewellers in 1979.
Ho Bee Land
On Apr 15, Ho Bee Land CEO and executive director Nicholas Chua acquired 113,000 shares at S$1.77 per share. This increased his direct interest from 0.48 per cent to 0.5 per cent. Joining the group in 2002, he has played a key role over the past two decades in expanding the its development and investment presence in Singapore, Australia, China, Europe, and the United Kingdom. As CEO, Chua oversees the growth and implementation of the group’s strategies and policies and manages its development and investment portfolios.
FY2024 marked a significant recovery for Ho Bee Land, with a net profit of S$109.7 million, a turnaround from the net loss of S$259.0 million in FY2023. Looking ahead, Chua maintains the group will continue to adopt a prudent approach to capital management amid macroeconomic uncertainties, leveraging resilient investment portfolios in Singapore and London, a robust development pipeline in Australia, and its commitment to sustainability through initiatives such as its inaugural S$160 million green bond in FY2024.
Valuetronics
On Apr 15, Valuetronics independent director Sandy Liu acquired 59,900 shares at S$0.60 per share. This was Liu‘s first acquisition in the one-stop integrated electronic manufacturing services provider since her appointment to the board in July 2024.
Back in November, Valuetronics said that its strategic diversification progress, which included allocating more resources towards newly acquired customers with higher growth potential and better margins, was showing results. The group also highlighted growth in its industrial and commercial electronics segment driven by new customers, including encouraging revenue contribution from a Canadian network access solutions provider, and other new customers.
Sinostar PEC Holdings
Between Apr 11 and 16, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 380,000 shares at an average price of S$0.136 per share. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.31 per cent to 69.35 per cent. This followed Li increasing his deemed interest by 11.18 per cent in the recent rights issue that went ex-rights in February.
For 2025, Sinostar PEC Holdings anticipates continued growth in the polyolefin market, although this growth may be moderated by increased domestic supply exerting downward pressure on market prices. Despite this, the group expects a gradual recovery in broad domestic demand, driven by improvements in consumer spending influenced by pro-consumption policies and growth in key sectors such as automotive, home appliances, logistics, electronics and telecommunications.
The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research.
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