Buyer No. of shares bought Date(s) Stock price (June 28 Monday start) Stock price (July 2 Friday end)
Hi-P INTERNATIONAL Company share buyback 1.654 m + 2.717 m + 1.071 m + 1.146 m June 28, 29, July 1, 2 60 c 66.5 c
DARCO  WATER Robert Stone 550,000 July 1 7 c 7.5 c
PAN HONG PROPERTY Company share buyback 140,000 July 2 49.5 c 45 c
OSIM Company share buyback 1.619 m July 2 92.5 c 92.5 c
BEST WORLD INTERNATIONAL Company share buyback 50,000 June 30 34 c 32 c
TECKWAH INDUSTRIAL Airjet Auto-Care 150,000 + 250,000 June 28, July 1 29 c 28.5 c

FRENCKEN

Company share buyback 408,000 + 285,000 + 330,000 June 28, 29, July 2 25 c 25 c
MEIBAN Company share buyback 114,000 July 1 30 c 29 c
CHANGJIANG FERTILIZER Company share buyback 50,000 June 28 23 c 23 c
LMA Company share buyback 172,000 + 50,000 + 81,000 June 30, July 1, 2 27  c 27 c
 
 



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Hi-P chairman Yao Hsiao Tung owns a 55% stake in the company. Photo by Leong Chan Teik

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Stock has surged since profit guidance was given and share buybacks started.


HI-P INTERNATIONAL:
The company was into its second week of aggressive share buyback last week, buying a total of 6.588 million shares for a total of over $4 million.

In the previous week, the company bought back 477,000 shares.

Hi-P had earlier given guidance of a better near term future: Revenue for 2Q would be comparable to the corresponding quarter in FY2009, and it would be profitable instead of just breaking even.

The effect of the guidance and the company buyback on the stock price were pronounced. From 51 cents two weeks ago, the stock has soared to close at 66.5 cents last Friday.

Hi-P (market cap: S$590.million) provides 
manufacturing services and electro-mechanical modules to customers in the telecommunications, consumer electronics & electrical, computing, life sciences & medical and automotive industries.

DBS Vickers analyst Tan Ai Teng said in a June 21 report that Hi-P's surge in business momentum was largely driven by the ramp of 1) as much as six to eight new smartphone models vs only two previously for key customer RIM; and 2) a new hit product for Apple which Hi-P has already started to build inventory early in May/June for the seasonally strongest 3Q due to overwhelming demand.

As a result, average capacity utilization has risen from 20-30% to just under 50%, and is expected to continue to trend higher to 70% by 3Q.





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Chua Thian Poh, chairman, Ho Bee Investment.
TECKWAH INDUSTRIAL:
The investment vehicle of property tycoon Chua Thian Poh continued its accumulation of Teckwah shares last week. Airjet Auto-Care now owns 15 million shares, or 6.42 %, of the share capital of Teck Wah Industrial (market cap: S$66.6 million).

Airjet became a substantial shareholder in January this year when it crossed the 5% level with 12.11 million shares.

Mr Chua is chairman and CEO of a listed property group, Ho Bee Investment, which has a market cap of S$1.3 billion (now you know why he is a tycoon).

Teckwah is, well, a low-profile company with no analyst covering it.

It provides printing and packaging services, value chain management services, database management, graphic design, and general services including property management.





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Robert Stone
DARCO WATER:
It announced that Robert Stone, a private investor based in Singapore, had become a substantial shareholder last week after he bought a further 550,000 shares.

He already is among the Top 10 shareholders of Singapore-listed companies such as Anwell Technologies, Sunmart Holdings and Singapore Windsor.

His latest interest, Darco Water (market cap: S$20.8 million), is a provider of integrated engineering and knowledge-based water treatment solutions.

It recently announced that it had secured 22 industrial turnkey projects worth an aggregate of approximately S$8.6 million from customers in the electronic, semi-conductor and solar power manufacturing facilities across Malaysia, Taiwan, and Singapore.

Many NextInsight readers would be familiar with Robert Stone’s name, as he has been featured on this website on several occasions in stories such as the following:

SUNMART's dual-listing (in Korea) news that the market has missed 

ANWELL: "My take on its solar biz prospects" 

SINGAPORE WINDSOR: Awaiting profit boost from new business

 


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