Casa&rsquo s : C04 +8.57% independent non-executive director Wee Chow Hou has been building a direct interest in the investment holding company recently.

 

The company is a leading distributor of home appliances in Singapore, with an extensive distribution network consisting of more than 300 established retailers islandwide.

 

For FY2024 (ended Sep 30), the company&rsquo s revenue fell 11.7 per cent to S$20.7 million, primarily due to a market slowdown and normalisation of sales volumes. Despite this, its gross margin improved to 44.4 per cent, from 43.8 per cent in FY2023, on the back of cost management and product mix. 

 

Dr Wee&rsquo s first acquisition was on Feb 3, when he bought 70,000 shares at S$0.109 per share. This was followed by a purchase of 129,000 shares at S$0.106 apiece on Feb 4, and 95,200 shares at S$0.106 per share on Feb 6. 

 

These acquisitions took his direct interest in the company to 0.17 per cent. 

 

Dr Wee was appointed to Casa&rsquo s board in March 2022. He is an emeritus professor at Nanyang Technological University (NTU) and an honorary fellow of the Singapore University of Social Sciences.

 

He has held various senior positions at both NTU and the National University of Singapore, and consulted for more than 350 major organisations globally. He has also served as an independent director for several listed companies in Singapore.