Stake changes: EPF Board ceases to be substantial Riverstone shareholder; Q&M Dental, APTT

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Singapore substantial shareholder changes on Wednesday, 17 November 2021: Riverstone Holdings and Malaysia’s Employees Provident Fund Board, Asian Pay Television Trust (APTT) and Q & M Dental Group (Singapore).

Riverstone Holdings and Malaysia’s EPF Board

Malaysia’s Employees Provident Fund Board sold 4.93 million shares of Riverstone Holdings in the market for around S$3.97 million, taking its deemed interest down to 4.768 percent from 5.101 percent previously, according to a filing to SGX Wednesday.

Employees’ Provident Fund Board is a Malaysian statutory body under the Ministry of Finance; it manages the compulsory retirement savings for Malaysia’s private sector workers.

Malaysia’s EPF, established in 1951, covers 14.59 million members, with 7.63 million of them active contributors as of end-2019. The annual contribution to the fund from employees and employers was 75.93 billion ringgit as of end-2019, with a dividend payout of 47.64 billion ringgit in 2020.

Riverstone Holdings is a natural rubber and synthetic rubber glove manufacturer, making healthcare gloves, nitrile gloves, finger cots, face masks and packaging bags.

Q & M Dental Group (Singapore)

Quan Min Holdings acquired 1.2 million shares of Q & M Dental Group (Singapore) in the market on Wednesday for S$720,000, according to a filing to SGX.

Ng Chin Siau is deemed interested in the shares, taking Ng’s deemed interest in Q & M Dental Group (Singapore) to 52.27 percent from 52.14 percent previously, the filing said. 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.

Asian Pay Television Trust

Araedis Investment Pte. (AIP) acquired 100,000 units of Asian Pay Television Trust (APTT) in the market for S$0.136 a unit on 15 November, taking its deemed interest to 17.049 percent from 17.044 percent previously, according to a filing to SGX Wednesday.

In addition, AIP acquired 1.3 million units of APTT at S$0.137 each in a same-day market transaction, taking its deemed interest to 17.121 percent from 17.049 percent previously, the filing said.

Then on 16 November, AIP acquired 500,000 units at S$0.137 each, taking its deemed interest to 17.149 percent, the filing said.

Araedis Investment is wholly owned by Araedis International Development Co. (AIDC), which is in turn wholly owned by Araedis Global Investment Holdings (AGIH), the filing said. Araedis Investment Co. (AIC) holdings 15.82 percent of AGIH. Wang Hsueh-Mei, the wife of Dai Yung Huei, is a director of AIC ad holds 95 percent of its voting rights, while Dai holds the remainder. As a result, Dai is deemed interested in AIP’s holding in APTT, the filing said.

Dai is the founder of Dafeng TV, which is listed in Taiwan, and an indirect stakeholder in APTT’s manager. Dai is a non-independent, non-executive director of the trust’s manager.

 

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