Oxley substantial shareholder Tee Wee Sien bought shares on 3 occasions recently, as detailed above.
Chart: www.marketwatch.comTEE WEE SIEN is relatively unknown among the top shareholders of Oxley Holdings although he holds a 12.05% stake now with a market value of S$243.4 million (based on Oxley's recent market cap of S$2.02 billion).
However, his recent spate of buying -- amounting to about S$450,000 -- has attracted notice in the NextInsight forum perhaps because it took place after news of the cancellation of an Oxley property development project and the termination of a deal by Oxley to buy a land parcel in Malaysia.
He bought at price levels that were off the high of 83 cents in April.
His buying is an eye-opener also because he last bought in July 2012 at prices that were sharply lower at around 20 cents (adjusted for a stock split).
Mr Tee did not buy last year when Oxley's chairman Ching Chiat Kwong and then non-executive director Eric Low were enthusiastically loading up on Oxley shares. See: Big Buying By Duo From OXLEY HOLDINGS
Perhaps Mr Tee's recent buying can be viewed as reflecting a positive outlook for the company.
He does not sit on the board of the company nor work as an employee but has played a pivotal role in the birth of Oxley.
The company's website says: "In mid-2009, Mr Ching, together with current Deputy CEO , Mr Eric Low See Ching, and substantial shareholder Mr Tee Wee Sien, decided to jointly develop properties."
Post-script: This evening, Oxley said that Mr Tee has bought another 100,000 shares on Friday (July 18) at 68 cents apiece.
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