Mehta Vimesh Piyush, a substantial shareholder of Huationg Global 41B 0.00% , has sold 12.5 million shares in the civil engineering services provider to the company&rsquo s CEO Patrick Ng for $1,775,000 or 14.2 cents apiece.

 

The off-market transaction took place on April 1 and was completed on the same day.

 

After the sale, which was completed on the same day, Piyush ceased to become a substantial unitholder of Huationg, reducing his stake from 8.01% to 0.96%.

 

Meanwhile, Ng&rsquo s direct stake in Huationg after the sale stands at 7.75%, up from 0.69% previously. The CEO has a deemed interest in another 121.76 million shares, giving him a total stake of 76.45%.

Aerial view of the Bukit Timah Fire Station site with a land area of 92,334 sq ft and existing gross floor area of 30,638 sq ft (Photo: SLA)
The public tender for the conserved Bukit Timah Fire Station (BTFS) at 260 Upper  Bukit Timah Road  conducted by the Singapore Land Authority (SLA) closed on Oct 18  with nine bids. The highest bid came from local construction company Huationg Global, which submitted $98,000 a month  or $1.176 million in annual rent.
The second highest bid of $76,595 monthly rent came from Stalford Academy, which manages 30 Stalford learning centres and affiliates across Singapore. (Unquote)

Like their daily stock quote 20 elephant bids spread...

Ah Tiong overbidded compared to the 2nd highest bid.

 

On Aug 31, Huationg Global CEO & executive director Patrick Ng Kian Ann acquired 200,000 shares at an average price of S$0.131 per share. With a consideration of S$26,200 this increased his direct interest in the provider of civil engineering services for infrastructure projects and ancillary inland logistics support services, from 0.58 per cent to 0.69 per cent.

 

Ng also maintains a 68.70 per cent deemed interest in Huationg by virtue of his 25 per cent shareholding interest in Dandelion Capital, which is the immediate and ultimate holding company of Huationg. This brings his total interest in the Catalist-listed company to 69.39 per cent.

 

Ng has more than 21 years of experience in the civil engineering construction industry. He is responsible for the overall management and strategic planning and oversees the business expansion of the group.

 

Huationg is also involved in the sale of construction materials such as sand and granite aggregates, recycled concrete aggregate and liquefied soil stabiliser. Since 2021, the group has also commenced its commercial operation of a 10,400-person dormitory at Changi East.

 

For its H1FY23 (ended Jun 30), Huationg reported an attributable profit of S$5.2 million, which was a 56.5 per cent increase from S$3.3 million in H1FY22. This followed its reporting a S$10.2 million net profit attributable to owners of the parent for FY22. It noted on Aug 14, that it will continue to leverage its strength in civil works to seek opportunities in public infrastructure projects to keep its order book strong for sustainable growth and will continue to focus on the smooth execution and completion of its current projects as well as tendering for large-scale projects.

 

The group also noted that it continues to face challenges from the rising costs of construction materials and will monitor and lock in its costs where appropriate.

 

Currently, its order book for ongoing projects is approximately S$484.4 million which is expected to be completed within the next four years.