Date Buyer No. of shares Price Holding

Saizen warrant

20-10-2009   Starich Resources 300,000 6.5 cts 10,859,836  (1.14%)
19-10-2009     91,000 6.5 cts  
16-10-2009     400,000 6.5 cts  
12-10-2009   12,000 6.0 cts  

Saizen REIT

27-10-2009 Samantha Ho (spouse of chairman) 500,000 14 cts 500,000 (0.052%)
  12-10-2009   Starich 100,000 13.5 cts 10,056,836  (1.056%)
  08-10-2009 Beagle Capital 1,000,000 13.5 cts 17,854,537  (1.874%)

Chang Sean Pey, CEO, Saizen REIT. Photo by Sim Kih

With D-Day coming up next week, Saizen REIT’s insiders have stepped up their buying of units of the REIT.

D-Day is the deadline for Saizen to refinance the YK Shintoku commercial mortgage-backed securities (CMBS) loan – failing which Saizen will be deemed to have defaulted on the loan.

The insider buying has been consistent, which suggests that they are confident of a good return on their purchases – in the long run.

In the above table, Starich and Beagle Capital are connected to various directors. Saizen chairman Arnold Ip Tin Chee is one of the beneficiaries of a trust which directly owns Starich.

Mr. Raymond Wong, an executive director of Saizen, is a beneficial holder of 50.0% of the issued share capital of Beagle Capital.



Date Buyer No. of shares Price Holding

Poh Tiong Choon Logistics

05-10-2009   Adrian Ho / Anne Marie Choo  577,000 32.93 cts 11,277,000  
(5.23 %)

Poh Tiong Choon Logistics has welcomed a new substantial shareholder – a couple, to be precise. They are Adrian Ho Kim Lee and Marie Choo.

What is worth nothing is they are individual investors, instead of institutions.

Obviously, they must be wealthy – their shareholding in Poh Tiong Choon Logistics is now worth around $4.5 million (based on the recent stock price of 40 cents).

We don’t know them, except that Adrian Ho is an alumnus of the Bachelor of Accountancy class of 1979 at the National University of Singapore.

Poh Tiong Choon Logistics enjoyed a robust 409% jump in net profit to $12.14 million in the first half of this year on higher revenue of all divisions and on lower fuel costs, said the company.

Group revenue increased 28% to $63.75 million.

The company has doubled its interim dividend – from 0.75 cents a share to 1.5 cents a share.

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