2011 sep 20
Oxley Holdings’ founders boost stakes in ‘shoebox apartment’ builder
http://www.theedgesingapore.com/component/content/32807/32807.html?task=view&showall=1
Written by Michelle Teo
Monday, 19 September 2011 14:56
The founding executive chairman and CEO of boutique property developer Oxley Holdings has significantly raised his stake in the company in a series of open-market transactions. On Sept 2, Ching Chiat Kwong bought 12,000 shares at 33.5 cents each. On Sept 5, he scooped up 200,000 shares at 32.5 cents each, bringing his direct stake in the company to 39.57%. Over the course of the week, Ching purchased 250,000 more shares on the open market at between 32.5 and 33 cents apiece. Ching now holds a 39.59% direct stake in Oxley, or just under 589.5 million shares.
At the same time, substantial shareholder Tee Wee Sien picked up 201,000 shares on Sept 5, bringing his direct stake to 175.81 million shares, or 11.81%. On Sept 8, Tee picked up another 100,000 shares on the open market. He holds a total of 175.91 million shares.
Ching is known as the man who popularised the so-called “shoebox” apartments. In 2009, he partnered Tee and Low See Ching, who is currently non-executive director, to venture into property development. Last month, Oxley posted $13.4 million in profit attributable to shareholders on the back of revenue of $70.9 million for FY2011 ended June, as it started selling units in its residential projects. The company said there was no revenue for FY2010, as construction of its projects had not started.
Eight residential projects were launched in FY2011, with most of the units fully sold, according to the company. Oxley also said it acquired 11 parcels of land in the same financial year, comprising five residential plots, four industrial plots and two commercial sites along Robinson Road.
Elsewhere, Ron Sim, founder, chairman and CEO of Osim International, has been boosting his direct stake in the lifestyle-and-wellness-products company. In a series of open-market transactions, Sim picked up 300,000 shares at about $1.17 each on Sept 7. Two days later, the company said in a filing to the Singapore Exchange that Sim had purchased another 496,000 shares at just under $1.16 apiece. Sim now has a direct interest of 41.79%, or 317.49 million shares. He also has a 25.25% deemed stake, held through an investment vehicle and his family members. Sim’s total shareholding is 67.04%, or 509.26 million shares.
On Aug 29, Osim said it was withdrawing its application to list Taiwan Depository Receipts, on the advice of its financial advisers. It said the withdrawal was because of the “ongoing disruption” in the global financial markets and that it would re-evaluate listing the TDRs when market conditions improve. The company said on Sept 9 that it had received approval from the Taiwan Stock Exchange and the regulator to withdraw.
Over at KTL Global, a supplier of rigging equipment to offshore oil and gas (O&G) companies, founding executive chairman Tan Tock Han is building up his direct interest in the company. He bought one million shares in his and his wife Cheong Gim Kheng’s name on Sept 1. On Sept 8, Tan bought another one million shares at 18.58 cents apiece. The next day, he picked up 1.38 million shares at 21.13 cents each. On Sept 13, Tan bought another 327,000 shares at 20 cents each, in his and Cheong’s name. Tan, whose son Kheng Yeow is KTL’s CEO, now holds a direct stake of 2.32%, or more than 3.7 million shares, of which 1.33 million shares are held jointly with his wife. He also has a deemed interest of 57.74%, which translates into some 92.13 million shares.
Tan’s purchases came after he pared his deemed shareholding, held through his wife, in July. He had sold more than 1.5 million shares for between 39.5 and 39.67 cents each.
KTL recently posted a $511,000 loss attributable to shareholders for FY2011 ended June, compared with a $347,000 profit the year before. Revenue for the full year was $61.89 million, or about 10% lower than a year ago. The firm says the poorer performance was a result of lower demand for its products from O&G companies. However, KTL recorded earnings attributable to shareholders of $255,000 for 4QFY2011, on the back of $17.7 million in revenue, nearly 17% higher y-o-y.
KTL says its new rigging-andsling- manufacturing facility in the Middle East has started operations and is expected to contribute to the group’s revenue. However, the company expects the market for the supply of rigging and lifting systems to the offshore O&G sector to remain challenging and competitive for the year ahead.
Oxley Holdings’ founders boost stakes in ‘shoebox apartment’ builder
http://www.theedgesingapore.com/component/content/32807/32807.html?task=view&showall=1
Written by Michelle Teo
Monday, 19 September 2011 14:56
The founding executive chairman and CEO of boutique property developer Oxley Holdings has significantly raised his stake in the company in a series of open-market transactions. On Sept 2, Ching Chiat Kwong bought 12,000 shares at 33.5 cents each. On Sept 5, he scooped up 200,000 shares at 32.5 cents each, bringing his direct stake in the company to 39.57%. Over the course of the week, Ching purchased 250,000 more shares on the open market at between 32.5 and 33 cents apiece. Ching now holds a 39.59% direct stake in Oxley, or just under 589.5 million shares.
At the same time, substantial shareholder Tee Wee Sien picked up 201,000 shares on Sept 5, bringing his direct stake to 175.81 million shares, or 11.81%. On Sept 8, Tee picked up another 100,000 shares on the open market. He holds a total of 175.91 million shares.
Ching is known as the man who popularised the so-called “shoebox” apartments. In 2009, he partnered Tee and Low See Ching, who is currently non-executive director, to venture into property development. Last month, Oxley posted $13.4 million in profit attributable to shareholders on the back of revenue of $70.9 million for FY2011 ended June, as it started selling units in its residential projects. The company said there was no revenue for FY2010, as construction of its projects had not started.
Eight residential projects were launched in FY2011, with most of the units fully sold, according to the company. Oxley also said it acquired 11 parcels of land in the same financial year, comprising five residential plots, four industrial plots and two commercial sites along Robinson Road.
Elsewhere, Ron Sim, founder, chairman and CEO of Osim International, has been boosting his direct stake in the lifestyle-and-wellness-products company. In a series of open-market transactions, Sim picked up 300,000 shares at about $1.17 each on Sept 7. Two days later, the company said in a filing to the Singapore Exchange that Sim had purchased another 496,000 shares at just under $1.16 apiece. Sim now has a direct interest of 41.79%, or 317.49 million shares. He also has a 25.25% deemed stake, held through an investment vehicle and his family members. Sim’s total shareholding is 67.04%, or 509.26 million shares.
On Aug 29, Osim said it was withdrawing its application to list Taiwan Depository Receipts, on the advice of its financial advisers. It said the withdrawal was because of the “ongoing disruption” in the global financial markets and that it would re-evaluate listing the TDRs when market conditions improve. The company said on Sept 9 that it had received approval from the Taiwan Stock Exchange and the regulator to withdraw.
Over at KTL Global, a supplier of rigging equipment to offshore oil and gas (O&G) companies, founding executive chairman Tan Tock Han is building up his direct interest in the company. He bought one million shares in his and his wife Cheong Gim Kheng’s name on Sept 1. On Sept 8, Tan bought another one million shares at 18.58 cents apiece. The next day, he picked up 1.38 million shares at 21.13 cents each. On Sept 13, Tan bought another 327,000 shares at 20 cents each, in his and Cheong’s name. Tan, whose son Kheng Yeow is KTL’s CEO, now holds a direct stake of 2.32%, or more than 3.7 million shares, of which 1.33 million shares are held jointly with his wife. He also has a deemed interest of 57.74%, which translates into some 92.13 million shares.
Tan’s purchases came after he pared his deemed shareholding, held through his wife, in July. He had sold more than 1.5 million shares for between 39.5 and 39.67 cents each.
KTL recently posted a $511,000 loss attributable to shareholders for FY2011 ended June, compared with a $347,000 profit the year before. Revenue for the full year was $61.89 million, or about 10% lower than a year ago. The firm says the poorer performance was a result of lower demand for its products from O&G companies. However, KTL recorded earnings attributable to shareholders of $255,000 for 4QFY2011, on the back of $17.7 million in revenue, nearly 17% higher y-o-y.
KTL says its new rigging-andsling- manufacturing facility in the Middle East has started operations and is expected to contribute to the group’s revenue. However, the company expects the market for the supply of rigging and lifting systems to the offshore O&G sector to remain challenging and competitive for the year ahead.
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