I note that Kabouter Fund bought a tonne of shares of Techcomp last week. Its stake in Techcomp has gone up to 12.13 %. Kabouter seems to be a value investor but not a major fund on a global basis. There is an article on them talking about Techcomp:
During my last conversation with Gilbert, the CFO last week, he told me that there are at least 8 funds holding shares in the Company. The names of the funds were not disclosed to me as this is non-public information.
This explains the low liquidity.
I understand from my broker in Hong Kong that Standard Chartered mopped up 2 million shares from open market after their HK analyst wrote a visit note on Techcomp.
Kayhian (Shanghai) also wrote a note on the Company though I have not seen it yet.
BTW, Kabouter is a micro-fund by US standards but not really a smallish fund by Singapore standards. I have a friend who invested with them and their AUM should be around USD 300-500 million. Their best investment in Singapore to date is Thomson Medical Centre which I believe they made more than 100% returns in 2 years.