Singapore substantial shareholder changes on Tuesday, 16 November 2021: Lippo Malls Indonesia Retail Trust (LMIR Trust), Prime US REIT, Geo Energy Resources, Lendlease Global Commercial REIT, ESR-REIT, Q & M Dental Group (Singapore), Hoe Leong Corp. and Vibropower.
This item was originally published on Tuesday, 16 November 2021 at 20:50 SGT; it has since been updated to include United Hampshire US REIT and Metech International.
Lippo Malls Indonesia Retail Trust
LMIRT Management, the manager of Lippo Malls Indonesia Retail Trust (LMIR Trust) has sold around 268.19 million units of the REIT for S$0.054 each to Bridgewater International in an off-market transaction, according to filings to SGX Tuesday.
LMIRT Management’s total interest in LMIR Trust fell to 0.32 percent from 3.82 percent previously, the filings said.
Bridgewater International’s interest in LMIR Trust increased to 58.37 percent after the transaction, from 54.88 percent previously, according to the filing.
PT Sentra Dwimandiri (SD) and PT Prudential Development (PD) hold 99.99 percent and 0.01 percent, respectively, of Bridgewater International, the filing said. SD is directly held by PT Lippo Karawaci and PT Maharama Sakti, which is a wholly owned subsidiary of Lippo Karawaci, in a proportion of 100 percent and one share, respectively. PD is directly held by SD and Lippo Karawaci in the proportion of 99.9998 percent and 0.0002 percent, respectively.
SD is deemed interested in Bridgewater International’s holding of LMIR Trust
Lendlease Global Commercial REIT
Lendlease Corp.’s deemed interest in Lendlease Global Commercial REIT increased to 26.53 percent from 25.87 percent previously, after 10,650,336 units in the REIT were issued, representing around S$8.99 million, to pay for management base fees, performance fees and acquisition fees to the manager as well as property management fees to Lendlease Retail, according to a filing to SGX Tuesday.
The REIT’s manager, Lendlease Global Commercial Trust Management, is an indirect wholly owned subsidiary of Lendlease Corp., the filing said.
United Hampshire US REIT
United Hampshire US REIT Management received around 1.12 million United Hampshire US REIT units at US$0.6839 each as the REIT’s payment of management fees, boosting the manager’s interest in the REIT to 0.267 percent from 0.065 percent previously, according to a filing to SGX Tuesday.
James E. Hanson II is deemed interested in the units held by the manager and by Hampshire Reinvestment LLC as he holds more than 20 percent interest in those entities, the filing said.
The Hampshire Generational Fund LLC’s deemed interest in United Hampshire US REIT fell to 7.98 percent from 8 percent previously on the dilution from the issuance of units to pay the management fee, according to a separate filing to SGX.
Geo Energy Resources
Ong Beng Chye, a non-executive independent director of coal mining company Geo Energy Resources, has exercised 750,000 employee share options for S$142,500, representing all of his current share options, according to a filing to SGX Tuesday.
That increased Ong’s holdings to 1.9 million Geo Energy shares, or a 0.13 percent stake, up from 1.15 million shares, or a 0.08 percent stake previously, the filing said.
ESR-REIT issued around 3.31 million new units to its manager, ESR Funds Management (S), representing around S$1.57 million, or S$0.475 a unit, as partial payment for its base management fees for the third quarter, according to a filing to SGX Tuesday.
The manager’s interest in ESR-REIT increased to 0.91 percent from 0.82 percent previously, the filing said.
Prime US REIT
Lim Hean Nerng, the founder of LHN Group, acquired around 2.97 million Metech International shares in the market for S$803,142, taking his stake to 9.47 percent from 7.31 percent previously, according to a filing to SGX Tuesday.
Q & M Dental
Quan Min Holdings acquired 1.3 million shares of Q & M Dental Group (Singapore) in the market for S$775,996, taking its direct interest to 52.13 percent from 51.99 percent previously, according to a filing to SGX Tuesday.
Ng Chin Siau is deemed interested in Quan Min’s holding of Q & M Dental shares, and the transaction boosted his deemed interest in Q & M Dental to 52.14 percent from 52.01 percent, previously, according to a separate filing to SGX Tuesday. Ng is also deemed interested in 121,200 shares held by his spouse, Foo Siew Jiuan, the filing said.
Quan Min is Q & M Dental’s parent company; Ng is Q & M’s founder and CEO.
Hoe Leong Corp.
Kuah Geok Khim, a substantial shareholder of Hoe Leong Corp., disposed of 15,314,100 shares in the market for around S$30,628, taking his direct interest down to just 17 shares, from a 0.24 percent direct interest previously. Kuah Geok Khim is also deemed interested in around 1.59 billion shares, or a 25.35 percent stake, according to a filing to SGX.
Kuah Geok Khim is a relative of Mdm. Kuah Geok Khim, who is senior manager of Hoe Leong Crawler Parts (HLCP); she is the sister of substantial shareholders Kuah Geok Lin and Quah Yoke Hwee.
Chng Beng Hock, a substantial shareholder in Vibropower, has sold 150,000 shares of Vibropower at S$0.06 each in a market transaction, taking his total interest down to 8.966 percent from 9.17 percent previously, according to a filing to SGX Tuesday.