Stake changes: AIA cuts Starhill Global REIT stake; Prime US REIT, KORE, Metech, Q&M, APTT

StarHill Global REIT sign at Ngee Ann City mall in SingaporeStarHill Global REIT sign at Ngee Ann City mall in Singapore

Singapore substantial shareholder changes announced on Wednesday, 24 November 2021: Starhill Global REIT, Prime US REIT, Keppel Pacific Oak US REIT, Metech International, Q & M Dental Group (Singapore) and Asian Pay Television Trust (APTT).

Starhill Global REIT and AIA Singapore

AIA Singapore ceased to be a substantial shareholder of Starhill Global REIT after disposing of 204,800 units in the market for S$131,092, according to a filing to SGX Wednesday.

AIA Group and AIA Co. are deemed interested in the units as they have direct control of AIA Singapore; AIA Investment Management is deemed interested as it is the investment manager and is managing the portfolio on behalf of the client, the filing said.

Prime US REIT

KBS US Prime Property Management, the manager of Prime US REIT, has received around 1.91 million units at US$0.858 each as payment of management fees, taking its interest in the REIT to 0.38 percent, up from 0.22 percent previously, according to a filing to SGX Wednesday.

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT Management, the manager of Keppel Pacific Oak US REIT, or KORE, has disposed of 850,000 units of the REIT at US$0.80 a unit in a market transaction, taking its interest down to 0.76 percent from 0.84 percent previously, according to a filing to SGX Wednesday.

Metech International

Ng Eng Tiong acquired 1 million shares of Metech International in the market for S$305,000, increasing his stake to 7.45 percent from 6.73 percent previously, according to a filing to SGX Wednesday.

Q & M Dental Group (Singapore)

Ng Chin Siau’s deemed interest in Q & M Dental Group (Singapore) increased to 52.6 percent from 52.41 percent after Quan Min Holdings acquired 1.75 million shares of the company in the market for S$1.02 million, according to a filing to SGX Wednesday. 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 (APTT)

Araedis Investment has acquired 1.3 million units of Asian Pay Television Trust (APTT) at S$0.136 each in a market transaction on 22 November, taking its holding to 17.221 percent from 17.149 percent previously, according to a filing to SGX Wednesday.

On 23 November, Araedis Investment acquired 400,000 units in the market at S$0.137 each, increasing its interest to 17.243 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 and 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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