Chairmen build stakes as Seatrium doubles buyback programme

[SINGAPORE] Over the five sessions through to Sep 24, more than 60 director interests and substantial shareholdings were filed for close to 40 primary-listed stocks. Directors or CEOs reported 23 acquisitions and two disposals, while substantial shareholders recorded 14 acquisitions and one disposal.

This included CEO or director acquisitions filed for Aedge Group , All-Link Air & Sea , Asian Pay Television Trust , A-Sonic Aerospace , Aspial Lifestyle , Attika Group , Duty Free International , Leong Guan Holdings , Lincotrade & Associates Holdings , Megachem , Metrocon Holdings , Nam Cheong , Nera Telecommunications , Skylink Holdings and Soon Hock Enterprise Holdings .

Share buybacks 

In addition, the five sessions saw 26 primary-listed companies conduct buybacks with a total consideration of S$81 million, led by Singtel , UOB and Keppel .

On Sep 22, Seatrium established a new S$200 million Share Buyback Programme, double the size of the preceding S$100 million programme that was fully utilised on Sep 1. The new programme will be funded from existing cash resources and executed progressively, taking into account prevailing share prices, market conditions and the group’s capital management priorities.

The programme will be undertaken under Seatrium’s Share Purchase Mandate, which allows the company to repurchase up to 2 per cent of its total issued shares and is subject to shareholder approval at each annual general meeting. Seatrium said the larger programme reflects its strengthened fundamentals and margins, confidence in its long-term prospects and commitment to disciplined capital allocation and shareholder returns.

Soon Hock executive chairman extends direct interest above 74 per cent

On Sep 18, Tan Yeow Khoon, executive chairman of Soon Hock Enterprise , acquired 3,283,500 shares through an off-market transaction for S$1.9 million, or S$0.58 per share. The acquisition increased his direct interest to 74.38 per cent from 73.32 per cent previously, while his total interest increased to 75.62 per cent from 74.56 per cent. 

Aspial Lifestyle chairman raises direct interest above 10 per cent

Between Sep 21 and 24, Koh Wee Seng, chairman and non-executive director of Aspial Lifestyle, acquired an aggregate 1.8 million shares on-market for S$627,500, at an average price of approximately S$0.349 per share. The purchases increased his direct interest to 10.08 per cent from 9.99 per cent previously, while his total interest increased to 75.8 per cent from 75.71 per cent. His deemed interest remained unchanged at 65.72 per cent

Koh is also executive director and CEO of Aspial Corporation, where he is responsible for the group’s strategic planning, overall management and business development. Aspial Lifestyle operates an integrated platform spanning pawnbroking, jewellery and retail, and property-backed secured lending. Its businesses include Maxi-Cash and the Lee Hwa, Goldheart and Niessing jewellery brands, alongside Dr.Pajak and Dr.Emas in Malaysia and the BigFundr secured-lending platform in Australia.

The company’s September investor presentation outlined growth opportunities across its three principal businesses. Aspial Lifestyle plans to strengthen its Singapore pawnbroking position through digital innovation and its modern retail format, increase the representation of its existing network in Malaysia, and scale BigFundr and its property-backed secured-lending activities in Australia. As at Jun 30, the group operated 118 physical stores, comprising 78 in Singapore, 24 in Malaysia and 16 internationally.

Attika executive chairman raises stake above 74 per cent

Between Sep 18 and 23, Steven Tan, executive chairman and managing director of Attika Group, acquired an aggregate of 1,266,900 shares on-market for S$259,240, at an average price of approximately S$0.205 per share. The purchases comprised 66,900 shares for S$13,240 on Sep 18, 600,000 shares for S$123,000 on Sep 22, and a further 600,000 shares for S$123,000 on Sep 23. The acquisitions increased his direct interest to 74.3 per cent from 73.9 per cent previously. 

The purchases followed an acquisition of 20,900 shares on Sep 1 and 200,000 shares on Aug 21. Listed on the Catalist board in November 2024, Attika Group is a Singapore-based commercial interior fit-out and mechanical, electrical and plumbing engineering services provider. The group has also diversified into property investment and development as a complementary business segment.

Attika Group’s H1 2026 results, released Aug 13, reported net profit attributable to shareholders increasing 11.7 per cent to S$1.9 million despite revenue remaining broadly stable at S$19.2 million. Gross profit rose 13.3 per cent to S$4 million, while gross profit margin expanded to 20.9 per cent from 18.4 per cent, driven by improved cost management. The group also secured approximately S$13.8 million of additional interior fit-out contracts, with completion expected by 2027. 

Nam Cheong executive chairman increases deemed interest as shipbuilding revenue returns

On Sep 23, Tiong Su Kouk, executive chairman of Nam Cheong, acquired a deemed interest in a further 100,000 shares through an on-market purchase at S$0.995 per share. The acquisition increased his deemed interest to 6.76 per cent from 6.74 per cent previously, while his total interest increased to 24.04 per cent from 24.01 per cent

The acquisition followed Nam Cheong’s H1 2026 results released on Aug 13, which marked the first contribution from its shipbuilding segment in six years. Revenue increased 25.2 per cent to RM348.3 million (US$85.5 million), with shipbuilding contributing RM89.7 million and vessel chartering contributing RM258.6 million. Profit attributable to shareholders increased to RM162.4 million from RM79.6 million, supported by RM123.7 million of profit from vessel sales, comprising RM22.7 million of shipbuilding gross profit and a RM101 million gain from a vessel sale. 

Nam Cheong’s net gearing declined to 0.1 times as at Jun 30 from 0.27 times at the end of FY 2025, following a reduction in borrowings. The group had 25 of its 35 vessels on long-term charters, representing 71 per cent of the fleet, and said it was on track to add five vessels to its fleet by the end of 2026. 

Metrocon founder and chairman establishes direct stake following Catalist debut

Between Sep 17 and 18, Alvin Lim Yee Hong, founder and non-executive and non-independent chairman of Metrocon Holdings, acquired an aggregate 400,000 shares on-market for S$94,400, at an average price of S$0.236 per share. The purchases comprised 300,000 shares for S$71,400 on Sep 17 and 100,000 shares for S$23,000 on Sep 18, establishing a direct interest of 0.2 per cent. His deemed interest remained at 63.1 per cent. 

Lim founded Metrocon in 2016, initially operating it as a landed residential property development business before pivoting into piling works in 2019. He stepped down from his executive directorship in February 2026 and continues to provide overall strategy, high-level direction and leadership, while the CEO is responsible for day-to-day management. He is also a director of several construction-related companies, including LBD Machinery. His deemed interest in Metrocon arises through his 46.1 per cent shareholding in LBD Engineering.

The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research