UPDATE: Stake changes: Sea, Dairy Farm, Suntec REIT, United Hampshire US REIT, Dasin Retail Trust, SHS

Outlet of Guardian, which is owned by Dairy Farm, at Kinex mall in SingaporeOutlet of Guardian, which is owned by Dairy Farm, at Kinex mall in Singapore. Photo taken pre-Covid

Singapore substantial shareholder changes: Dairy Farm International Holdings, Suntec REIT, United Hampshire US REIT, Dasin Retail Trust and SHS Holdings.

This item was originally published on Wednesday, 5 January 2022 at 12:24 a.m. SGT; it has since been updated to include Sea Ltd. and NutryFarm International.

Sea Ltd.

Chinese internet giant Tencent will cut its stake in Southeast Asian e-commerce and gaming player Sea Ltd. to 18.7 percent form 21.3 percent to unlock some of the holding’s value and to obtain funds for other investments, according to a report from Reuters Tuesday.

Dairy Farm International Holdings

Ian James Winward McLeod, CEO of Dairy Farm International Holdings, received 199,171 shares of the company upon the vesting of share awards on 1 January in an off-market transaction, according to a filing to SGX Tuesday.

Suntec REIT

BlackRock ceased to be a substantial unitholder of Suntec REIT, selling 123,100 units in the market for S$185,881 on 31 December, taking its interest to 4.99 percent from 5.0 percent previously, according to a filing to SGX Tuesday.

United Hampshire US REIT

United Hampshire US REIT Management, the manager of United Hampshire US REIT, sold 179,100 units of the REIT in the market for US$0.67 each on 3 January and sold 450,000 units for S$0.67027 each on 4 January, taking its interest to 0.263 percent from 0.376 percent, according to a filing to SGX Tuesday.

Dasin Retail Trust

Harvest Private Wealth Income Fund 4 SP ceased to be a substantial unitholder of Dasin Retail Trust after the issuance of 4.47 million new units on 30 December to Dasin Retail Trust Management, as the dilution took the fund’s interest to 4.99 percent from 5.02 percent previously, according to a filing to SGX Tuesday.

Harvest Private Wealth Thematic Fund SPC holds all of Harvest Private Wealth Income 4 SP. The Harvest Private Wealth Thematic Fund SPC is a segregated portfolio company incorporated in the Cayman Islands and operating as an investment fund seeking returns via thematic investment strategies; it is managed by H Partners Private Wealth Management (Singapore), which is ultimately controlled by Harvest Fund Management.

Harvest Private Wealth Thematic Fund SPC has more than 50 investors, mainly Asian and Southeast Asian high net worth individuals, corporates and institutions, with assets under management of around US$140 million as of end-April, according to a prospectus unrelated to Dasin Retail Trust.

Harvest Advisors Investment Management, which submitted the filing to SGX, is a wholly owned subsidiary of Harvest Fund Management, founded in Beijing in 1999. Harvest Fund Management, one of the ten earliest established fund management companies in Mainland China, has around 1 trillion yuan under management, the prospectus said.

NutryFarm International

Wu Yongqiang acquired 2.03 million shares of NutryFarm International in the market for S$0.29 each on 3 January, taking his total interest to 11.63 percent from 10.41 percent, according to a filing to SGX Tuesday.

Wu is deemed interested in the 10 million NutryFarm shares held by his wholly owned Tianci International, and he is deemed interested in the 2.8 milion shares held by Zhang Xuemei, who is his wife, the filing said. She is also deemed interested in the shares held by Wu, the filing said.

Wu is a non-executive non-independent director and non-executive chairman of KTL Global, which operates in sales and distribution of fresh vegetable and fruit produce in Southeast Asia.

NutryFarm is engaged in the wholesale trading and distribution of fruit, particularly durians, in Asia. The NutryFarm Biomedicine International subsidiary produces nutrition and health food products, using mainly traditional medicinal herbs.

SHS Holdings

Teng Choon Kiat, the executive director of SHS Holdings, disposed of an aggregate 3 million shares of the company in the market for S$465,000 in transactions on 3 and 4 January, taking his interest to 28.32 percent from 28.45 percent, according to a filings to SGX on Tuesday and Wednesday.

Correction: On Wednesday, a separate filing to SGX clarified that the transactions took place on 3 and 4 January, not merely on 4 January. 

 

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