When Singapore’s “circuit breaker” measures tripped in the earlier part of the year to break the cycle of Covid-19 transmission in the community, the local construction sector suffered after being ordered to halt building activities. This affected how much revenue they could book and hurt their bottom lines for the first half this year. Still, over the past couple of months, insiders of at least two local-listed construction companies are using the opportunity to scoop up shares.

On Oct 22, Francis Koh Keng Siang, managing director & group CEO of Koh Brothers Group, acquired 45,300 shares for $7,382.99, or an average of 16.3 cents each. He now holds a direct stake of some 30 million shares, or a stake of 7.28%, up from 7.26% earlier.

In addition, Koh, who joined the family business back in 1987, has a deemed interest of 60 million shares, or a 14.55% stake. In total, he owns or controls about 90 million shares or 21.83% of the company. A day earlier on Oct 21, he had acquired 100 shares, paying 15.5 cents each. Even earlier on Sept 8 and 9, Koh had acquired 100 and 100,000 shares respectively at the same price.

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