[SINGAPORE] Over the five trading sessions from Sep 26 to Oct 2, institutions were net buyers of Singapore stocks with net institutional inflow of S$275 million, partially reversing the S$592 million net institutional outflow for the preceding week.
The stocks that saw the highest net institutional inflow included DBS , CapitaLand Integrated Commercial Trust , OCBC , Keppel , Hongkong Land , SIA Engineering , ST Engineering , Singapore Exchange , Seatrium and City Developments Limited .
Meanwhile, Singtel , Singapore Airlines , ComfortDelGro , Yangzijiang Shipbuilding Holdings , Frasers Centrepoint Trust , Suntec Reit , CapitaLand Investment , Sembcorp Industries , Singapore Post and Genting Singapore led the net institutional outflow over the five sessions. This saw financial services book the most net institutional inflow on the week, while telecommunications booked the most net institutional outflow.
Share buybacks
For the five sessions, 21 primary-listed companies conduct buybacks with a total consideration of S$51.3 million. OCBC again led the consideration tally, buying back 1.25 million of its shares at an average price of S$16.48. Secondary-listed Hongkong Land also bought back 943,000 shares at an average price of US$6.36. This brings the total value of shares bought back on the mandate, which on Sep 18 was increased by US$150 million and extended to December 2026, to US$193 million.
Chuan Hup Holdings
Chuan Hup Holdings bought back 2,854,800 shares at an average price of S$0.22 apiece. This brings the proportion of shares acquired under the current buyback mandate to 0.99 per cent. Chuan Hup is an investment company with a diversified portfolio, including investment properties and developments in Singapore, Australia and the Philippines, as well as equity investments. The group ventured into boutique landed home development in Singapore in July 2022 with the launch of Paulownia.
As reported on Aug 27, Chuan Hup posted revenue of US$18.1 million for its FY2025 (ended Jun 30), driven by US$11.8 million from Paulownia sales. Net profit rose to US$5.5 million from US$1.4 million in FY2024, mainly due to US$2 million mark-to-market gains and the absence of a US$1.9 million legal claim. Other comprehensive income of US$4 million was largely from currency translation gains on SGD and PHP appreciation against USD.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
GKE Corporation
On Sep 29, GKE Corporation received the listing and quotation notice for its placement of up to 88,123,510 new ordinary shares at S$0.0968 per share. The placement raises gross proceeds of S$8.53 million. After estimated expenses of S$350,000, net proceeds of about S$8.18 million will be used entirely for local and overseas expansion of the company’s logistics and warehousing business. The placement aims to enhance financial flexibility and broaden the shareholder base, potentially improving share liquidity.
GKE Corporation operates in Singapore and China through two main sectors – warehousing and logistics, which offers freight and supply chain services, and strategic investments spanning infrastructure, retail distribution and agri-tech – supported by an integrated value chain and partnerships across allied industries. Its stock price-to-book ratio has increased from 0.6x at the end of 2024, to 0.8x at present.
Director transactions
Over the five trading sessions, 75 director interests and substantial shareholdings were filed. Across 30 primary-listed stocks, directors or CEOs reported 10 acquisitions and one disposal, while substantial shareholders recorded two acquisitions and five disposals.
SEE ALSO
Wilmar International
Between Sep 26 and 29, Wilmar International chairman and CEO Kuok Khoon Hong increased his deemed interest in the company from 14.34 per cent to 14.39 per cent. Over the two sessions, HPRY Holdings acquired 981,700 shares, Longhlin Asia acquired 981,700 shares and Hong Lee Holdings acquired 981,800 shares. The 2,945,200 shares were acquired at an average price of S$2.83.
As reported by The Business Times on Sep 26, Indonesia’s Supreme Court recently overturned Wilmar’s previous acquittal in a graft case involving cooking oil export permits during the 2021-2022 shortage crisis. In a statement, the company said it “regrets, but respects” the court’s decision, adding that “the actions taken by the Wilmar respondents during the cooking oil shortage were in compliance with prevailing regulations and in good faith”.
Wilmar noted it expects to post a net loss for its Q3 FY2025 (ending Sep 30) following the penalties imposed by the court, while expecting to make a profit for the full FY2025. Back in August, the company posted a pre-tax profit of US$937.7 million for its H1 FY2025, up 26 per cent from US$742.2 million in H1 FY2024.
The growth was driven by stronger performances in plantation and sugar milling, and food products, with contributions from associates and joint ventures more than doubling year on year. These gains were partly offset by weaker results in feed and industrial products.
Centurion Corporation
Between Sep 29 and 30, Centurion Corporation non-executive director and joint chairman Han Seng Juan increased his interest in Centurion Corporation from 55.71 per cent to 55.75 per cent. The on-market acquisition saw him acquire 300,000 shares at an average price of S$1.46 per share. This followed his acquisition of 250,000 shares at an average price of S$1.04 apiece on Apr 7 and 600,000 shares at S$0.977 apiece on Feb 27. Prior to this year, his preceding acquisitions were made back in August 2020.
With over three full decades in the investment and brokerage industry, he has served as principal and director of Centurion Global – the controlling shareholder– since April 2008. His prior roles include senior positions at UOB Kay Hian, where he was director (business development consultant), director and executive director (dealing), and associate director (dealing) between 1996 and 2010.
Earlier in his career, he held dealing director roles at OUB Securities and Ong & Company and began as a dealer at UOB Securities in 1987.
Earlier in September, Centurion Corporation announced the RM110.8 million (S$33.2 million) acquisition of Johor-based dormitory operator Harum Megah Resources via its wholly owned subsidiary, Centurion Dormitories. Harum Megah owns six purpose-built worker accommodation assets in mature industrial zones across Johor, offering around 7,197 beds.
The acquisition boosts the group’s Malaysian portfolio by 25 per cent, expanding total bed capacity to some 35,610, and is expected to be immediately earnings-accretive due to strong occupancy and a stable customer base.
Centurion signed a letter of intent in May 2025 with the Iskandar Regional Development Authority to double its Johor bed capacity within five years, investing RM300 million to RM500 million into the Johor-Singapore SEZ. The group maintains the Harum Megah acquisition advances this strategy, adding compliant, high-demand assets that support migrant workforce housing needs.
September also saw the initial public offering of Centurion Accommodation Reit (CAReit), in which Centurion Corporation, as sponsor, maintains a deemed 42.8 per cent interest as of Sep 25. CAReit is focused on its income-generating properties for purpose-built worker and student accommodation, as well as other residential uses, and excludes the Malaysia assets.
Tickrs Financial Singapore (TFS) and Beansprout have each initiated research coverage on CAReit. TFS notes that the sponsor’s sizeable holding of CAReit, subject to a six-month lock-up, with partial lock for another six months, aligns the sponsor’s interests firmly with minority unitholders. Beansprout projects a 6 per cent distribution yield for CAReit in 2026, based on its S$1.09 target price derived from the dividend discount model.
Wing Tai Holdings
Wing Tai Holdings chairman and managing director Cheng Wai Keung resumed increasing his deemed stake in the company, with additional shares acquired by his spouse Helen Chow. This raised his total interest from 61.85 per cent to 61.89 per cent between Sep 26 and Oct 2.
Chow is a director of WingTai Property Management, where she is responsible for marketing and sales functions in the property division. She develops and implements strategies to achieve optimal marketing mix for property products, as well as manages sales operations across geographies to achieve revenue goals.
TOTM Technologies
On Oct 1, Thomas Clive Khoo increased his substantial shareholding in TOTM Technologies above the 18 per cent threshold, from 17.9 per cent to 18.17 per cent. The 3,979,900 shares were acquired at an average price of S$0.031 apiece. His substantial shareholding crossed above 10 per cent in June, and he emerged as a substantial shareholder in September 2024.
The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research
