AUSGROUP gets new big shareholders, ROXY-PACIFIC insiders buy more

Loss-making in the 9MFY14, AusGroup (43 cents) has a market cap of S$279 million. Chart: Bloomberg.AUSGROUP has attracted a new substantial shareholder, Havenport Asset Management.

The fund bought 1.35 m shares on Aug 7 at 39.5 cents apiece on average, lifting its holding to 32.869 million shares, or 5.07% of AusGroup.

The fund had earlier bought 745,000 shares on Aug 5 at 39.13 cents apiece on average. (See SGX filing)

Earlier, on 12 March, substantial shareholder Alan Wang had boosted his stake by 980,000 shares (at 27.65 cents apiece) to 37.5 million, or a 5.7846% stake in the company.

In addition, on 9 April, AusGroup announced that Ezion Holdings Limited had become a substantial shareholder in the company (6.9%).

It also marked the beginnings of a transformation in the business of AusGroup. See: AUSGROUP forays into marine logistics with acquisition of Ezion port

In a May update, AusGroup said that it is "seeing increased opportunities arising from LNG construction and maintenance projects that offset the slowdown in the minerals mining sector. We expect that trend will continue over the next 12-24 months."

With nearly S$1 billion in pre-sales of development properties to be booked, Roxy-Pacific is well-placed to report strong profits in the next two years.

RP_Teo_Koh L-R: Executive Chairman Teo Hong Lim & CFO Koh Seng Geok. NextInsight file photosIt also has progressed well overseas with ventures in Malaysia, Hong Kong, Japan and Australia.

Reflecting the positive outlook, its CFO, Koh Seng Geok, has continued to accumulate shares of the company.

So far this year, he has bought 180,000 shares, raising his stake to 9.008 million shares, or 0.7548% of the issued capital of Roxy-Pacific Holdings.

Meanwhile, in the year to date, the Executive Chairman and CEO, Teo Hong Lim, has also raised his direct stake by 310,000 shares while his deemed interest went up by 1.088 m shares.

The respective interests in Roxy-Pacific are 9.16% and 49.21%.

Recent story: Massive S$127.8 m profit forecast for ROXY-PACIFIC "reasonable"

AUSGROUP gets new big shareholders, ROXY-PACIFIC insiders buy more

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