Gordon and Celine Tang, the couple controlling property developer SingHaiyi Group, on Aug 19 acquired 3.73 million shares through a married deal for $264,830, which works out to an average of 7.1 cents per share.

In another earlier married deal, the Tangs had acquired over 44.9 million shares for $3.24 million, or an average price of 7.26 cents per share. They now hold a total of nearly 2.71 billion shares, equivalent to a stake of 64.33%, up from 64.24% previously.

On June 23, SingHaiyi reported earnings of $4.9 million for the half year ended March, down 64.1% y-o-y. Revenue in the period was up 72.4% y-o-y to $44.2 million, as the company recognised more revenue from its projects such as Parc Clematis and The Gazania.

As at March 31, the company’s net asset value per share was 15.01 cents, down from 15.78 cents as at March 31, 2019.

In its earnings commentary, SingHaiyi said that despite Singapore’s “circuit breaker” measures, it was able to “immediately leverage digital marketing tools such as virtual showflat tours and online sales presentations to potential buyers, which were produced as part of its integrated marketing strategy to promote its developments”.

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SingHaiyi also noted how its sales efforts had “started to show results as its projects continued to register sales, with Parc Clematis listed as one of the top three-selling projects in May”, citing data from the Urban Redevelopment Authority.

SingHaiyi says it will continue to push sales for its three developments amid the weak market and economic slowdown. The total estimated gross development value of the three residential development projects comprising The Gazania, The Lilium, and Parc Clematis amounts to $2.8 billion.

 As at March 31, SingHaiyi had sold 607 units of Parc Clematis and a total of 22 units for Gazania and Lilium. In addition, an additional 64 units at Parc Clematis were sold as at end May. “Progressive revenue has been recognised from these projects and this is expected to continue for the financial year ahead,” the developer adds.

Raising stake in supplier of precision measuring instruments

Daniel Teo Tong How, chairman of GRP, on Aug 20 acquired 54,000 shares for $9,720 on the open market. This works out to an average price of 18 cents per share. Teo now owns nearly 8.1 million shares, or 4.47%, up from 4.44% previously.

Besides Teo, GRP has steadily been buying back its own shares for more than three months. On March 5, it had acquired 220,800 shares at prices ranging from 16.5 cents to 17 cents. The most recent buyback was on June 16 when it acquired 294,100 shares at 19 cents each. Since March, a total of more than 7.4 million shares have been bought back.

A quick flip after the partial offer

Fullerton Fund Management, an independently-managed fund management subsidiary of Temasek, has made a couple of quick trades on Keppel Corp shares.

This comes after Temasek on Aug 10 announced that it will not go ahead with a partial offer for Keppel shares at $7.35. Temasek had wanted to raise its stake in Keppel from around 21% to 51%.

A week later on Aug 17, Fullerton Fund Management, acquired 194,800 Keppel shares for $928,377.84 on the open market, which works out to an average of about $4.766 per share.

In another separate filing, Temasek said that Fullerton sold 696,800 shares, also on Aug 17, for around $3.39 million, or $4.865. The following day, Fullerton sold another 209,800 shares for about $1.01 million. This works out to an average price of $4.8263 per share.

Temasek now owns a total stake of just below 382.23 million shares in Keppel, or 20.99%, out of which it holds just over 371.4 million shares, or a 20.4% stake, directly.