INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions spanning Oct 11 to Oct 17, with S$144 million of net institutional outflow, partially reversing the preceding 10 sessions of S$251 million net inflow.
This has brought net institutional flow in the 2024 year to Oct 17 back to a net outflow of S$21 million.
Leading the net institutional outflow over the five sessions were UOB, Singtel, Singapore Airlines, Capitaland Ascendas Reit, Keppel, Capitaland Integrated Commercial Trust, Genting Singapore, Seatrium, Mapletree Pan Asia Commercial Trust and Jardine Matheson Holdings.
Meanwhile, Yangzijiang Shipbuilding, Thai Beverage, Singapore Exchange, Keppel DC Reit, Sembcorp Industries, Hongkong Land Holdings, Sheng Siong Group, iFast Corporation, Jardine Cycle & Carriage and Singapore Post led the net institutional inflow.
From a sector perspective, real estate investment trusts and Industrials book the most net institutional outflow in the five sessions, while the consumer non-cyclicals and utilities sectors booked the most net institutional inflow.
iFast Corporation ranks among the 40 most traded stocks this year, and is also among the 20 stocks that have booked the most net institutional inflow.
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The digital banking and wealth management platform will report its Q3 FY24 (ended Jun 30) results on Oct 25.
Fourteen primary-listed companies conducted buybacks with a total consideration of S$36.6 million in the five sessions, up from S$24 million the preceding week.
CapitaLand Investment bought back 1,909,400 shares at an average price of S$3 per share. This brings the total shares repurchased to 1.8 per cent of its issued shares (excluding treasury shares) since the beginning of the current mandate.
The leading global real asset manager with a solid foothold in Asia will provide a Q3 FY24 (ended Sep 30) business update before the Nov 6 market open.
There were less director interests and substantial shareholdings filed in five trading sessions than the usual quota, with 45 filings for just over 20 primary-listed stocks. Directors or CEOs filed 10 acquisitions and no disposals, while substantial shareholders filed six acquisitions and five disposals.
CNMC Goldmine Holdings
On Oct 16, CNMC Goldmine Holdings executive chairman Professor Lin Xiang Xiong acquired two million shares in a married deal at S$0.18 per share.
This increased his direct interest from 0.72 per cent to 1.21 per cent, bringing his total interest to 27.61 per cent.
He is also the founder of CNMC Goldmine and father of CEO and executive director Chris Lim Kuoh Yang.
Prof Lin formulates the group’s strategic plans and policies, oversees daily mining operations, and seeks sustainable business development and expansion as needed.
As CEO, Lim is responsible for implementing the strategic plans and policies as well as managing the mining operations of the group.
Headquartered in Singapore and listed on the Catalist board, CNMC Goldmine started operations in 2006 and is principally engaged in the exploration and mining of gold and the processing of mined ore into gold dore bars.
In August, CNMC Goldmine Holdings announced that it plans to expand the capacity of its main gold production plant in Kelantan, Malaysia, by 60 per cent.
The company noted that it will invest up to RM9 million (S$2.7 million) to increase the processing capacity of its carbon-in-leach plant at the Sokor mine from 500 tonnes to 800 tonnes of ore per day.
This expansion, funded by internal resources, is expected to be completed by the first half of next year, barring any unforeseen circumstances.
As at Jun 30, 2024, the company and its subsidiaries had more than US$14.7 million in cash and no bank loans.
Travelite Holdings
On Oct 11, Travelite Holdings executive chairman Thang Teck Jong acquired 965,000 shares at S$0.15 per share.
This increased his total interest from 60.66 per cent to 61.68 per cent.
Thang formulates the group’s strategic directions and expansion plans. As the founder, he has been instrumental in the growth and development of the group since its inception in 1986.
For its FY24 (ended Mar 31), the group achieved record performance with revenue increasing by 1.4 per cent to S$47.1 million, driven by a strong rebound in international travel and tourism.
Gross profit margin improved to 51.5 per cent, while other gains decreased to S$500,000 due to lower inventory impairment reversals and government grants. Despite these changes, the group’s profit before tax rose to S$3.8 million, up from S$3.5 million in FY23.
Looking forward, Thang maintains that Travelite Holdings will leverage favourable market conditions in the global travel market by enhancing both its online presence and offline activities.
This includes participation in major luggage events and promotional atrium sales in shopping malls.
On the digital front, the group is collaborating with digital platform partners to offer exclusive deals and promotions, while also enhancing its retail presence through new concept stores and boutiques slated for completion in FY25.
Additionally, the group aims to maintain its growth trajectory by exploring new store locations, supporting its secured lending business, and seeking opportunities for acquisitions, joint ventures and new investments, while focusing on cost management and production efficiency.
Noel Gifts International
On Oct 11, Noel Gifts International managing director Alfred Wong Siu Hong acquired 62,100 shares at an average price of S$0.37 per share. The consideration of S$22,667 increased his total interest from 47.15 per cent to 47.21 per cent.
This followed his acquisition of 153,500 shares between Oct 7 and Oct 10; 128,800 shares at on Sep 24; 163,500 shares on Sep 16; and 302,800 shares between Sep 4 and 5. Wong, the founder of Noel Gifts, has been its managing director since its inception.
Next year marks 50 years since the establishment of the Singapore hampers, flowers and gifts company. Wong oversees the group’s strategic planning, overall financial management and growth.
Since 1997, he has also led the property division, managing property investment and development.
Wong relayed recently that as the group enters a new chapter, it is focused on leveraging its strengths, adapting to market changes and seizing growth opportunities.
Noel Gifts implemented new marketing and sales strategies in the past 12 months to enhance customer engagement and loyalty, and to drive sales growth.
The group introduced a members’ benefits programme on its website, partnering select merchants to offer exclusive savings, rewards and benefits to its online customers.
These privileges are designed to attract customers to join Noel Gifts’ membership, creating mutual benefits in the current era of evolving customer sentiments and spending habits.
The group also introduced the birthday insider programme that lets customers record important birthdays.
One month before each birthday, customers receive an e-mail with gift suggestions, providing a helpful reminder and thoughtful gifting options.
This programme helps customers track upcoming birthdays through their profile page, ensuring that they never miss an opportunity to present a gift.
LMS Compliance
Between Oct 9 and 10, executive director and CEO Ooi Shu Geok and executive director and chief development officer Chong Moi Me increased their deemed interests, with 170,000 shares acquired at an average price of S$0.365 per share.
This increased the aggregate deemed interest of Dr Ooi and Chong in the Catalist-listed company from 83.67 per cent to 83.83 per cent. Both are deemed interested in all the shares of the company held by Louis May and Fitcorp Value.
Based in Malaysia, LMS Compliance has more than 15 years of experience in laboratory testing and certification services.
These include testing and assessment, certification, trading and distribution of conformity assessment technology.
The company operates three accredited laboratories and offers a range of services such as chemical and microbiology analyses, ISO certification audits, and the distribution of analytical instruments and testing equipment.
Recently, LMS Compliance launched an assurance, validation and verification segment to provide environmental, social and governance data collection and reporting services.
For its H1 FY24 (ended Jun 30), LMS Compliance reported an increase in net profit of 3.8 per cent from H1 FY23 to RM2.74 million (S$833,987). Excluding the impact of its listing expenses in FY22, LMS Compliance has steadily and consistently grown its net profit from FY19.
Dr Ooi noted in August that the group achieved double-digit revenue growth in H1 FY24, driven by strong demand for the laboratory testing services.
He added that the group will focus on optimising costs, strengthening customer relationships, and leveraging digitalisation and technology to streamline processes and enhance operational efficiency.
The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research
