Stake changes: ESR-REIT, First REIT, Metech Intl, Creative Technology

ESR-REIT property near Singapore’s Tai Seng MRTESR-REIT property near Singapore’s Tai Seng MRT

Singapore substantial shareholder changes: ESR-REIT, First REIT, Metech International and Creative Technology. 

ESR-REIT

ESR Funds Management (S), the manager of ESR-REIT, received 3.24 million new units of the REIT for S$1.55 million as partial payment of its base management fees for the fourth quarter of 2021, taking its interest in the REIT to 0.98 percent from 0.9 percent previously, according to a filing to SGX Thursday. 

Shanghai Summit, which owns 25 percent of ESR Funds Management (S), is wholly owned by Tong Jinquan, who is therefore deemed interested in the units held by ESR Funds Management (S), according to a separate filing to SGX.

Tong Jinquan’s total interest in ESR-REIT increased to 16.29 percent from 16.24 percent previously, the filing said. 

First REIT

First REIT Management, the manager of First REIT, received 1.73 million units of the REIT on Thursday at S$0.2848 each as payment of the performance fee component of the management fee for the fourth quarter of 2020, taking its interest to 10.29 percent from 10.19 percent previously, according to a filing to SGX Thursday. 

In addition, First REIT Management received 1.57 million units at S$0.2985 each on Thursday as payment of the base management fee for the fourth quarter of 2021, taking its interest to 10.38 percent, the filing said.

Metech International

Simon Eng, a substantial shareholder of Metech International who resigned as chairman and CEO in 2020, acquired 100,000 shares of the company for S$21,000 in the market on 16 February, taking his total interest to 15.135 percent from 15.069 percent previously, according to a filing to SGX Thursday. 

In addition, Eng is deemed interested in another 50,000 shares acquired in the market for S$10,750 on 16 February, taking his total interest to 15.168 percent, the filing said.

Metech International

Wu Yongqiang, a substantial shareholder of Metech International, acquired 2.37 million shares of the company for S$521,400 in an off-market transaction on 16 February, taking his interest to 15.24 percent from 13.676 percent previously, according to a filing to SGX Thursday. 

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.

Creative Technology

George Yong-Boon Yeo, an independent non-executive director of Creative Technology, acquired 1,200 shares of the company for S$2,820 on 15 February in the market, taking his total interest to 51,200 shares, or 0.07 percent, according to a filing to SGX Thursday.

Yeo served in Singapore’s government from 1988 to 2011, as Minister of State for Finance, Minister for Information and the Arts, Health, Trade and Industry and Foreign Affairs. Prior to 1988, Yeo served in the Singapore Armed Forces, attaining the rank of Brigadier-General.

In addition, Yeo was chairman of Hong Kong-listed Kerry Logistics Network from 2012 to 2019, and senior advisor to Kuok Group from 2019-2021.