[SINGAPORE] Over the five trading sessions from Nov 21 to 27, institutions were net sellers of Singapore stocks, with net institutional outflow of S$552 million extending the S$131 million net outflow for the previous week.

 

Stocks that saw the highest net institutional outflow included   Genting Singapore   : G13 +0.66%,   UOB   : U11 +0.27%,   Keppel   : BN4 -0.19%,   DBS   : D05 +0.37%,   Singapore Exchange   : S68 +1.57%,   OCBC   : O39 +1.26%,   Sembcorp Industries   : U96 0%,   Singtel   : Z74 -0.21%,   City Developments Ltd   : C09 -0.96%, and   ST Engineering   : S63 +0.24%.

 

Meanwhile,   CapitaLand Integrated Commercial Trust   : C38U -0.84%,   Jardine Matheson Holdings   : J36 -0.94%,   Hong Leong Asia   : H22 -0.93%,   Wilmar International   : F34 +0.62%,   Bumitama Agri   : P8Z +0.68%,   Mapletree Pan Asia Commercial Trust   : N2IU +0.69%,   Hongkong Land Holdings   : H78 -0.31%,   Marco Polo Marine   : 5LY -1.68%,   NTT DC Real Estate Investment Trust   : NTDU -2.04% (Reit), and   Lendlease Global Commercial Reit   : JYEU 0% led the net institutional inflow.

 

Share buybacks

For the five sessions till Nov 27, 18 primary-listed companies conducted buybacks with a total consideration of S$92.7 million. Singtel led the consideration tally, buying back 10,870,400 of its shares at an average price of S$4.75 each. This took the number of shares bought back under its current mandate to around 16,816,000 shares representing 0.1 per cent of its outstanding shares, excluding treasury shares.

 

Director transactions

The usual quota of 60 director interests and substantial shareholdings were filed. Across close to 30 primary-listed stocks, directors or chief executive officers reported eight acquisitions and three disposals, while substantial shareholders recorded five acquisitions and no disposals.

 

EnGro Corp

On Nov 21,   EnGro Corp   : S44 0% chairman and CEO Tan Cheng Gay acquired 11,870,000 shares in a married deal at S$0.725 apiece. This increased his total interest from 15.01 per cent to 25.01 per cent. Tan is a founding member of the group and has served as executive director since 1973, shaping the group&rsquo s strategic vision. Substantial shareholder Chua Thian Poh also acquired 1.18 million shares at S$0.725 apiece, increasing his total interest from 38.68 per cent to 39.67 per cent.

 

Back on Aug 12, EnGro Corp reported that its revenue for the first half of FY2025 (ended Jun 30) rose 25 per cent from that in H1 FY2024 to S$104.5 million. This was driven by stronger integral cement and ready-mix concrete sales and new ready-mix concrete plants in Singapore and Malaysia, though partially offset by margin pressures and cement dumping. Net profit surged to S$8.7 million in H1 FY2025 from S$20,000 in the year-ago period, supported by fair-value gains, absence of one-off losses, and improved interest coverage ratio profitability despite exchange losses and higher depreciation.

 

Soon Hock Enterprise

  Soon Hock Enterprise   : SHE 0% debuted on the Singapore Exchange (SGX) mainboard on Oct 16, raising S$48.1 million at S$0.58 per share. The leading industrial property developer and investor in Singapore maintains a project portfolio exceeding S$1 billion in gross development value. The group maintains that its user-centric strategy and forward-thinking design drive strong tenant retention, reduced vacancy risk, and long-term capital appreciation.

 

Between Nov 19 and 21, executive chairman Tan Yeow Khoon acquired 2,914,000 shares at S$0.595 apiece. This increased his direct interest from 70.22 per cent to 71.16 per cent. Tan Yeow Khoon has more than 50 years of experience in logistics and transportation management, including leading Cogent and delivering landmark projects such as The Grandstand and Singapore&rsquo s largest logistics hub. He has also developed boutique hotels and restored heritage properties through extensive modernisation.

 

CapitaLand China Trust

On Nov 21,   CapitaLand China Trust   : AU8U -0.63% (CLCT) non-executive independent director Chua Keng Kim acquired 100,000 units at S$0.78 each. This followed Chua buying 700,000 units at S$0.79 apiece between Oct 30 and Nov 18, and takes his total interest to 0.05 per cent. CLCT&rsquo s overall portfolio is aligned with China&rsquo s government priorities, focusing on domestic consumption, innovation, and new quality productive forces. 

 

CLCT is enhancing retail assets through asset enhancement initiatives to unlock higher rental value. Meanwhile, its business parks face market pressures due to cautious sentiment, but could get support from government tech policies. CLCT also noted that its logistics parks remain resilient, with full occupancy in most assets strengthening the segment.

 

Wing Tai Holdings

  Wing Tai Holdings   : W05 +0.7% chairman and managing director Cheng Wai Keung continued to build his deemed interest in the company, through his spouse Helen Chow acquiring shares. From Nov 21 to 27, Cheng increased his total interest in the leading real estate developer and lifestyle retailer from 62.24 per cent to 62.28 per cent. This is up from 61.64 per cent at the end of 2024.  

 

Centurion Accommodation Reit

On Nov 20, Fidelity International increased its deemed substantial unitholding back above the 9 per cent threshold. The acquired 900,000 units took its deemed interest from 8.97 per cent to 9.02 per cent, with an average price of S$1.13 each. Back on Nov 6, a disposal saw the deemed interest decline from 9.02 per cent to 8.99 per cent.

 

Fidelity International&rsquo s deemed interests in   (CAReit) stem from units held by funds and/or accounts managed by one or more of the investment giant&rsquo s direct and indirect subsidiaries, which are fund managers. CAReit debuted on the SGX mainboard on Sep 25, raising S$816 million at S$0.88 per unit.

 

 

 

 

 

 

 

 

 

 

 

 

SAC Capital is the placement agent for this exercise, and Maybank Securities has been appointed as the sub-placement agent.

 

Sanli Environmental has proposed the placement of 38,492,404 ordinary shares in the capital of the company at 26 cents per share on Nov 24.

 

Sanli is expected to gain net proceeds of about $9.6 million from the proposed placement, after deducting estimated fees and expenses.

 

The placement price represents a discount of approximately 9.34% to the volume weighted average price of 28.68 cents per share for trades done on the shares on the SGX-ST.

 

The placement shares represent 12.75% of the existing and issued paid-up share capital of the company comprising 301,907,596 shares, and will represent about 11.31% of the enlarged issued and paid-up share capital of the company of 340,400,000 shares.

 

Sanli Environmental intends to use the net proceeds from the proposed placement for general working capital purposes, including funding the execution of ongoing engineering, procurement and construction projects.

 

The group says that a portion of the proceeds may also be used to reduce existing borrowings, thereby strengthening the company&rsquo s balance sheet and improving its capital structure.

 

Recently, Sanli added nearly S$500m of new contracts, propelling its order book to a new record level of S$838.7 million.