On Oct 5, The Straits Trading Company Straits Trading: S20 +0.98% independent and non-executive director Tan Tiong Cheng acquired 30,000 shares of the company for a consideration of S$91,500 at S$3.05 per share.

 

He maintains a 0.02 per cent direct interest in the conglomerate-investment company.

 

His preceding acquisition was on Aug 31 with 20,000 shares acquired at S$3.18 per share.

 

Tan is also an independent and non-executive director of UOL Group, the lead independent director of Heeton Holdings and a non-executive independent director of Amara Holdings.

 

THE Straits Trading Company' s Straits Trading: S20 -0.65% real estate investment arm Straits Real Estate has agreed to subscribe into Savills IM UK Value Boxes Fund FCP-RAIF, a closed-ended common fund managed by an entity of Savills Investment Management (Savills IM).

 

The fund is a reserved alternative investment fund established in Luxembourg. It focuses on acquiring convenience-led discount retail park assets in the UK. Savills IM has been appointed its investment adviser.

 

Straits Real Estate' s subsidiary SRE Venture 18 will commit up to £ 60 million (S$110 million) as one of the investors in the fund.

 

In its regulatory filing, Straits Trading highlighted the Savills IM management team' s established track record of investing in, and asset managing, retail park assets across the UK.

 

The group said its fund subscription is in line with its strategy of redeploying capital from its existing property portfolio of high-quality but low-yielding investment properties into potentially higher-return real estate opportunities via Straits Real Estate.

 

The company deems the transaction immaterial to its issued share capital, as well as the group' s earnings per share and net tangible assets per share for the current financial year ending Dec 31, 2021.