Stake changes: Straits Trading, Magnus Energy, Metech, Trans-China Automotive

Singapore 50 dollar bill

Singapore substantial shareholder changes: The Straits Trading Co., Magnus Energy Group, Metech International, Trans-China Automotive Holdings and Credit Bureau Asia. 

The Straits Trading Co. 

Chan Tian Chu, an independent non-executive director of The Straits Trading Co., bought 10,000 shares of the company at S$3.21 each in the market on 18 January, taking his holding to 30,000 shares, or 0.007 percent, from 0.005 percent previously, according to a filing to SGX Tuesday. 

Magnus Energy Group

Luke Ho Khee Yong, former CEO of Magnus Energy Group, surrendered on 17 January around 695.1 million shares of the company which had been issued in 2017 under the performance share plan, taking his holding down to 2.18 percent from 7.68 percent previously, according to a filing to SGX Tuesday. 

The shares were surrendered as part of the settlement of the company’s lawsuit against certain former directors and officers of Magnus Energy, according to a separate filing to SGX Monday

Metech International

Ng Eng Tiong, who once again became a substantial shareholder of Metech International in December, disposed of 3,033,100 shares of the company in the market on 14 January for S$913,843, according to a filing to SGX Tuesday. 

That took Ng’s interest down to 8.452 percent from 10.453 percent previously, the filing said.

On 17 January, Ng sold 236,900 Metech shares in the market for S$64,832, taking his interest down to 8.296 percent, the filing said.

Trans-China Automotive Holdings

Octo Holdings acquired 400,000 shares of Trans-China Automotive Holdings in the market on 14 January for S$0.2575 each, or a total of S$103,000, taking its total interest to 77.46 percent from 77.40 percent previously, according to a filing to SGX Tuesday. 

On 17 January, Octo Holdings acquired 200,000 shares in the market for S$0.263 each, or a total of S$52,600, taking its total interest to 77.50 percent, the filing said. 

On 18 January, Octo Holdings bought another 2.5 million shares of the company in the market for S$0.26 each, or a total of S$650,000, taking its holding to 77.93 percent, the filing said.

Francis Tjia, the executive chairman and CEO of Trans-China Automotive Holdings, as the sole owner of Octo Holdings, is deemed interested in those shares, and the transactions took his interest to 77.93 percent, a separate filing to SGX said.

Trans-China Automotive’s IPO was in November 2021. 

Credit Bureau Asia

Koo Chiang, the executive chairman and CEO of Credit Bureau Asia, acquired 1.425 million shares of the company at S$1.04 each or a total S$1.482 million in an off-market transaction Tuesday, taking his interest to 64 percent from 63.4 percent previously, according to a filing to SGX Tuesday.

Credit Bureau Asia’s initial public offering (IPO) was in December 2020. 


While you’re here, we’re hoping you can help us out.

Your monthly contribution will directly fund our journalism.

You can check your existing account here and you can sign in to Shenton Wire here.

You can also contact us to request our rate card for corporate sponsorship, advertising, syndication and sponsored articles.