Stake changes: Ascendas India Trust, Kabouter Mgmt, QT Vascular, Ley Choon, Asian Healthcare

An artist’s impression of MTB 5, a 700,000 square-foot multi-tenanted building owned by Ascendas India Trust located in International Tech Park Bangalore. The building is expected to be completed in the second half of 2020. Credit: CapitaLandAn artist’s impression of MTB 5, a 700,000 square-foot multi-tenanted building owned by Ascendas India Trust located in International Tech Park Bangalore. The building is expected to be completed in the second half of 2020. Credit: CapitaLand

Singapore substantial shareholder changes: Ascendas India Trust and Kabouter Management, Mission Well and QT Vascular, Asian Healthcare Specialists, Ley Choon Group and Tricklestar.

Ascendas India Trust and Kabouter Management

Kabouter Management has disposed of 1.33 million units, both directly held and deemed interests, of Ascendas India Trust for a total S$1.81 million, taking its total interest down to 6.944 percent from 7.06 percent previously, according to a filing to SGX Thursday.

The disposal was by three funds managed by Kabouter Management and by five separately managed client accounts, and by Kabouter Management, the filing said.

The U.S.-based Kabouter Management’s website said Kabouter specialises in international small caps.

Mission Well and QT Vascular

Mission Well has sold around 17.5 million shares of QT Vascular in the market for S$87,517, taking its interest in the company down to 5.36 percent from 6.04 percent previously, according to a filing to SGX Thursday.

Read more: QT Vascular: Requisitioning shareholders haven’t pursued ‘second attempt EGM’

Asian Healthcare Specialists

Sian Chay Medical Institution became a substantial shareholder of Asian Healthcare Specialists after acquiring 30.86 million shares for S$5 million in a placement, for a 5.34 percent stake, according to a filing to SGX Thursday.

Sian Chay Medical Institution is a non-profit organisation providing free traditional Chinese medicine (TCM) consultation and subsidised medicine for lower-income people. The organisation has said it subscribed to the shares for investment purposes.

Ley Choon Group

Zheng Choon Holding obtained a deemed interest of 320.95 million shares of Ley Choon Group, or a 21.315 percent stake, after Zheng Choon Holding took over four murabaha facilities and four call option agreements from Islamic Bank of Asia, the original lender to Ley Choon Group, according to a filing to SGX Thursday.

Under the murabaha facilities, Zheng Choon Holding has the right to convert the loan into new ordinary shares of Ley Choon, and it effectively paid S$4.5 million for the shares, the filing said.

The deal brough Zheng Choon’s total interest in Ley Choon to 60.386 percent, including a direct interest of 39.07 percent, the filing said.

Zheng Choon’s shareholders — Toh Swee Kim (23.7 percent), Toh Chew Chai (23.7 percent), Tow Chew Leong (25.4 percent) and Toh Choo Huat (27.2 percent) — are deemed interested in the Ley Choon Group shares, the filing said.

Tricklestar

Gunananthan Nithyanantham’s total interest in Tricklestar fell to 5.62 percent from 33.95 percent after he disposed of shares in CircleBright Ltd., ceasing to hold at least 20 percent, and therefore, ceased to be interested in the Tricklestar shares held by CircleBright, according to a filing to SGX Thursday.

Gunananthan Nithyanantham will become Tricklestar’s executive director and chief operating officer, effective 1 January.

 

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