China Minzhong Food: Prudential Asset Management (Singapore) Limited notified the company on 17 Jan 2012 that it had ceased to be a substantial shareholder after its shareholding slipped from 5.0495 % to 4.9464 %.
About a month later, on 21 Feb, Templeton Worldwide, Inc., however, emerged as a substantial shareholder with a deemed stake of 5.30%.
Since then, displaying its enthusiasm through a number of purchases, Templeton’s deemed interest has sharply risen to 39,024,000 shares, or a 7.00 % stake worth about S$39 million.
The latest series of acquisitions covered by an announcement yesterday was of 2.674 million shares.
Templeton joins the ranks of substantial shareholders such as the Government Investment Corporation of Singapore (better known as GIC), which holds 16.9%.
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AusGroup Ltd: Its shares rose as much as 9.2% yesterday following last week's lodgement of Civmec Ltd's IPO prospectus for a listing in Singapore.
Both AusGroup and Civmec serve the oil and gas and mining industries in Australia.
Civmec provides construction and heavy engineering services.
AusGroup is an energy and resources specialist providing fabrication, precision machining, construction and integrated services to natural resource development companies.
"If Civmec lists at a higher valuation, there is expectation that AusGroup shares could also trade higher," said Jason Saw, an analyst at DMG & Partners Securities.
AusGroup shares closed up 5.3% at S$0.40 on volume of 62.155 million shares.
The catalyst provided by Civmec's IPO comes hot on the heels of AusGroup's announcement in mid-March of the formalisation of a contract announced last year, valued in excess of AU$160 million with Karara Mining Limited.
The contract boosted AusGroup’s order book to AU$441 million.
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Chart: Bloomberg
JEL Corp: The stock continued to be heavily traded yesterday, with 126.44 million units changing hands and closing 0.2 cent down at 2.4 cent.
After the market closed, JEL said that its former CEO and founder, Eric Tan, had sold 90 million shares the day before (April 3).
That would have reaped him about $2.3 million, assuming an average price of 2.6 cents a share.
The shares were worth many times more than that before the price collapsed when the CAD began investigating the company in 2007.
Subsequently, Eric Tan, his deputy CEO and Group Financial Controller were charged with conspiracy to cook the company's books and inflate its profits by more than S$4.2 million.
In Oct 2010, Eric Tan was sentenced to 12 months jail and fined S$280,000. He would have gotten out of jail not too long ago.
After Tuesday’s sale, he was left with 68,204,800 shares, falling from an 8.01% stake to just 3.45%.
Did he sell more shares yesterday? Even if he did, the public may not know about it as he is not obliged to inform JEL as he is no longer its substantial shareholder.
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