Stake changes: OUE Commercial REIT, Addvalue, Darco Water, Alset, Sitra Holdings, LHT

OUE Commercial Trust's Mandarin Orchard on Orchard RoadOUE Commercial Trust's Mandarin Orchard on Orchard Road. Image taken pre-Covid

Singapore substantial shareholder changes: OUE Commercial REIT, OUE, Addvalue Technologies, LHT Holdings, Darco Water Technologies, Alset International and Sitra Holdings (International).

OUE and OUE Commercial REIT

OUE Hospitality REIT Management, a wholly owned subsidiary of OUE Ltd., transferred 127.75 million units of OUE Commercial REIT to OUE for S$54.29 million on 6 January in an off-market transaction, according to a filing to SGX Friday.

OUE’s total interest in OUE Commercial REIT remained at 48.16 percent, the filing said.

Addvalue Technologies

Addvalue Technologies‘ Executive Chairman Chan Kum Lok Colin was granted 11.85 million new ordinary shares under the company’s performance share plan for 2017, according to a filing to SGX Friday. The share’s closing price on Friday was S$0.013.

“The above awards is granted for his performance resulting in the successful transformation of the group over the past several years,” the company said.

LHT Holdings

Yap Mui Kee, chairman, managing director and CEO of LHT Holdings, acquired 46,800 shares of the company in the market for S$0.69 each on 7 January, taking her interest to 14.687 percent from 14.599 percent, according to a filing to SGX Friday.

Darco Water Technologies

Thye Kim Meng, a former director and CEO of Darco Water Technologies, disposed of 100,000 shares of the company in the market for S$15,000 on 3 January and sold 100 shares on 5 January for S$15.30, according to a filing to SGX Friday.

The transactions took Thye’s interest to 7.52 percent from 7.63 percent previously, the filing said.

The company said it was notified of the 3 January transaction on 5 January via a letter received in post.

Thye was a director of Darco Water from 13 October 2001 to 31 May 2019; in August 2020, the company said it sent a letter of demand to Thye for US$1.6 million over losses related to the proposed acquisition of a solar power farm in Con Dao, Vietnam, and the proposed acquisition of a 90 percent interest in Can Guioc Water Works.

The Business Times reported in August 2020 that Thye had wanted to know if the letter of demand was issued “under the instructions or influence of non-executive deputy chairman Wang Zhi.” Darco Water had responded the claim was related to an internal review of past transactions.

No further information was found on the matter. Shenton Wire was unable to locate contact details for Thye to request comment.

Alset International

Hengfai Business Development acquired 1.75 million shares of Alset International in the market on 6 January for around S$94,754, taking its interest to 76.8 percent from 76.75 percent previously, according to a filing to SGX Friday.

Alset’s Chairman and CEO Chan Heng Fai is deemed interested in the shares held by Hengfai Business Development as he and his associates control at least 20 percent of Hengfai Business Development, according to a separate filing to SGX.

Chan’s total interest increased to 88.93 percent from 88.88 percent previously, the filing said.

Alset International is involved in land development, home building and property management.

Sitra Holdings (International)

Tan Teresa, co-founder and senior vice president of group administration and human resources at Sitra Holdings (International), disposed of 40 million shares of the company for S$1 million on 6 January in an off-market transaction, taking her total interest to 11.25 percent from 13.95 percent previously, according to a filing to SGX Friday.

Co-founder and leader of the timber division, Chew Ah Ba George, as her spouse, is deemed interested in her shares, the filing said.

Guo Shaozeng, the furniture distributor’s non-executive vice chairman, acquired the shares, taking his stake to 29.66 percent from 26.97 percent previously, a separate filing said.

 

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