Between Oct 4 and 5, AnnAik $ AnnAik: A52 +3.85% executive director and COO Ng Kim Keang acquired 355,000 shares of the manufacturer and distributor of stainless steel products for a consideration of S$25,050.

 

At 7.1 cents per share, this took his direct interest in AnnAik from 2.14 per cent to 2.28 per cent.

 

Ng' s preceding acquisitions were in November 2019, with 1.54 million shares acquired at 6.0 cents per share.

 

He joined the company in January 2003 as financial controller, then was promoted to executive director in January 2005 and chief operating officer in March 2015.

 

Currently, he is responsible for managing the overall operations and the finance and accounting matters of the group.

 

Between Oct 5 and 6, AnnAik executive director and sales director Benedict Ow Eei Phurn acquired 655,000 shares for a consideration of S$49,882.

 

At 7.6 cents per share, this increased his total interest in AnnAik from 0.17 per cent to 0.40 per cent.

 

Ow' s current role is to assist in the overall distribution business of the group and manage its supply chain operations

 

On Aug 13, AnnAik announced that its H1 FY21 (ended Jun 30) profit attributable to owners of the company was S$1.23 million, compared to a loss of S$0.18 million recorded in the prior year.

 

The significant improvement in results was mainly due to the higher demand for steel products and increase in steel prices, lifting the revenue and gross profit of both the distribution and manufacturing of steel flanges divisions.

 

Within the environmental division, the increased engineering procurement and construction project deployment in hazardous wastewater treatments also contributed positively to AnnAik' s overall performance in H1 FY21.