[SINGAPORE] Over the five trading sessions from Aug 15 to 21, institutions were net sellers of Singapore stocks, with net institutional outflow of S$53 million after the heavier S$465 million in net institutional outflow in the preceding week.
The stocks with the highest net institutional outflow included Sembcorp Industries, DBS, CapitaLand Ascendas Reit, ST Engineering, ComfortDelGro, UOB, iFAST Corporation, Great Eastern Holdings, KSH Holdings and Mapletree Industrial Trust.
Singtel, Jardine Cycle & Carriage, Singapore Exchange, Yangzijiang Financial Holding, Yangzijiang Shipbuilding Holdings, City Developments Limited, CapitaLand Integrated Commercial Trust, Keppel, OCBC, and Venture Corporation led the net institutional inflow over the five sessions.
Twenty-two primary-listed companies made buybacks with a total consideration of S$62.5 million. Keppel again led the consideration tally, buying back 2.77 million of its shares at an average price of S$8.35.
ISOTeam
On Aug 15, the Ginko-AGT Global Growth Fund raised its direct stake in ISOTeam above the 6 per cent substantial shareholder threshold, exactly a month after crossing 5 per cent. The latest acquisition of 200,000 shares was at S$0.096 each, S$0.010 higher than the price paid on Jul 15.
On Aug 1, AGT Partners highlighted that, in response to the global equity rally since mid-April, it has made minor adjustments, trimming lower conviction holdings exposed to external trade and tariff risks while maintaining or increasing investments in domestically focused companies.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
ISOTeam is a leading eco-conscious building maintenance and upgrading specialist in Singapore, with over 20 years’ experience, 900 projects completed in 7,500 buildings, and services in R&R, A&A, coating, waterproofing, interior design, landscaping, M&E and more for public- and private-sector clients. It is expected to report its FY2025 results at the end of August.
On Aug 12, ISOTeam announced it had secured S$22.5 million in new contracts, boosting its order book to S$181.1 million for delivery over the next 24 months. It also announced that a wholly owned subsidiary is partnering with design@LOFT architects to deliver one-stop consultancy, regulatory and renovation services for factory-converted dormitories.
ISOTeam is also set to begin testing its AI drone-painting solution on an HDB site in September 2025, with plans to expand this service if successful.
Director transactions
Over the five trading sessions, close to 100 director interests and substantial shareholdings were filed. Across 40 primary-listed stocks, directors or chief executive officers reported 23 acquisitions and 11 disposals, and substantial shareholders recorded 10 acquisitions and seven disposals.
This included director or CEO filings for Ascent Bridge, Aspial Lifestyle, Bumitama Agri, CDW Holding, Credit Bureau Asia, First Sponsor Group, Japan Foods Holding, Megachem, Metro Holdings, Q & M Dental Group (Singapore), Sinostar PEC Holdings, Stamford Land Corporation and Sunmoon Food Company.
Q & M Dental Group (Singapore)
Between Aug 18 and 19, Quan Min Holdings acquired 5,641,800 shares in Q & M Dental Group (Singapore), an average price at S$0.445 a share. This increased the total interest of non-independent executive director and group chief executive officer Ng Chin Siau from 56.01 to 56.60 per cent.
On Aug 20, Quan Min Holdings disposed of 20 million shares in a private off-market transaction to Lion Global Investors for a total consideration of S$9 million (excluding brokerage and stamp duties). This reduced Dr Ng’s total interest to 54.49 per cent.
On Aug 14, the group posted revenue of S$88.4 million for H1 FY2025, with core profit up 5 per cent to S$8.3 million. It also raised S$130 million from a S$500 million Multicurrency Debt Issuance Programme primarily for organic expansion and potential M&A.
Ng highlighted that despite economic headwinds in H1 FY2025, the group’s core dental business stayed resilient through organic growth and strategic acquisitions. He also noted that the S$130 million in 3.95 per cent Notes reflected strong investor confidence and equipped the group with capital to drive its next growth phase.
As at Jun 30, the group was operating 108 dental and five medical outlets, a dental college and a distribution company in Singapore. In Malaysia, it had 37 dental outlets and a distribution company, and in China, seven polyclinics, seven hospitals, a training centre, a distribution company and a dental lab.
Metro Holdings
Between Aug 13 and 19, non-executive and non-independent director Ong Sek Hian acquired 1,560,300 shares at an average price of S$0.422 a share. This raised his total interest from 35.40 to 35.59 per cent.
He is a substantial shareholder of the company through his deemed interest in Dynamic Holdings, Leroy Singapore and Eng Kuan Co. An entrepreneur with over a decade of experience, Ong has expertise in diverse sectors and strong venture capital and private equity credentials, having successfully invested in and exited multiple startups.
Metro Holdings reported a net loss of S$224.7 million in FY2025 (ended Mar 31), reversing a net profit of S$14.6 million in FY2024. This was attributed primarily to non-cash fair-value and impairment losses from its China real estate exposure, compounded by global economic challenges including inflation, interest rate hikes and geopolitical tensions.
To improve financial performance and shareholder value, the group is focused on optimising asset efficiency, diversifying into resilient sectors, strengthening its retail operations, and maintaining strong liquidity while navigating ongoing macroeconomic uncertainties.
Bumitama Agri
On Aug 15, Bumitama Agri lead independent director Lim Hung Siang increased his deemed interest by 100,000 shares at S$0.985 a share. This raised his total interest in the producer of crude palm oil (CPO) and palm kernel in Indonesia to 0.02 per cent. His preceding acquisition was in April 2024, with 100,000 shares acquired at S$0.74 a share.
Lim’s expertise covers the transport and engineering sectors, including leadership roles at Singapore Automotive Engineering and ComfortDelGro. He was first appointed to the Bumitama Agri board in June 2018.
On Aug 12, Bumitama Agri reported that its H1 FY2025 revenue surged 28.2 per cent to 9.74 trillion rupiah (S$767.47 million), and that its net profit surged 48 per cent to 1.27 trillion rupiah, supported by improved extraction rates and resilient palm oil prices.
The group added that following the upgraded dividend policy in late February, as management grows more confident of the group’s future cashflow and financial stability, this year’s interim dividend of S$0.0363 a share that went ex-dividend on Aug 20, is 203 per cent higher than last year’s interim dividend.
Stamford Land Corporation
Between Aug 13 and 20, Stamford Land Corporation executive chairman Ow Chio Kiat increased his total interest from 46.20 to 46.23 per cent. On May 30, the group reported its FY2025 (ended Mar 31) an attributable profit of S$32.79 million, an increase of S$26.84 million from S$5.95 million in FY 2024.
Sinostar PEC Holdings
Between Aug 18 and 21, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 424,300 shares at S$0.146 apiece. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.56 to 69.61 per cent.
This follows his acquisitions of 1.8 million shares in May and 880,000 shares in April. Since the end of 2019, he has raised his deemed interest from 57.80 per cent, primarily through a rights issue earlier this year.
On Aug 14, Sinostar PEC Holdings reported a H1 FY2025 net profit of 57.81 million yuan, a decrease of 67 per cent from 175.35 million yuan in H1 FY2024. The decline in net profit was primarily attributable to insufficient market consumption demand.
The group maintains that in the coming year, the Chinese polyolefin industry is expected to face intensified competition because of a mismatch between rising production capacity and slower downstream demand, which may pressure the group’s gross profit margins. In response, the group will focus on high-end product development, invest in technology, and refine its portfolio to meet growing demand in, for example, the new-energy vehicles and green consumption sectors.
Credit Bureau Asia
On Aug 15, Credit Bureau Asia executive chairman and CEO Kevin Koo Chiang acquired 105,200 shares at an average price of S$1.33 apiece. This increased his total interest in the leading player in the credit and risk information solutions market in South-east Asia, from 64.12 to 64.16 per cent.
The writer is the market strategist at SGX. To read SGX’s market research reports, visit sgx.com/research.
