AGT Raises Nam Cheong Stake, Silchester Increases ComfortDelGro Stake

SGX

Jun 02

Over the five sessions through to the 28 May close, 22 primary-listed companies conducted buybacks with a total consideration of S$88.9 million. Singapore Telecommunications again led the buyback ...

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Singapore Telecommunications again led the buyback ...</p>\n\n<a href=\"https://www.sgx.com/research-education/market-updates/20260602-agt-raises-nam-cheong-stake-silchester-increases\">Source Link</a>\n\n</div>\n","source":"sgx_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AGT Raises Nam Cheong Stake, Silchester Increases ComfortDelGro Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAGT Raises Nam Cheong Stake, Silchester Increases ComfortDelGro Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-02 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.sgx.com/research-education/market-updates/20260602-agt-raises-nam-cheong-stake-silchester-increases><strong>SGX</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Over the five sessions through to the 28 May close, 22 primary-listed companies conducted buybacks with a total consideration of S$88.9 million. Singapore Telecommunications again led the buyback ...</p>\n\n<a href=\"https://www.sgx.com/research-education/market-updates/20260602-agt-raises-nam-cheong-stake-silchester-increases\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6519","symbol_name":"运输股","start_time":0,"source_url":"https://www.sgx.com/research-education/market-updates/20260602-agt-raises-nam-cheong-stake-silchester-increases","article_id":"2640978365","we_media_id":null,"thumbnails":[],"rights":{"source":"sgx_stock","url":"https://www.sgx.com/research-education/market-updates/20260602-agt-raises-nam-cheong-stake-silchester-increases","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2640978365","pubTimestamp":1780329600,"columns":[],"sourceInfo":{"source_id":"sgx_stock","name":"SGX"},"weMediaInfo":null,"summary":"Over the five sessions through to the 28 May close, 22 primary-listed companies conducted buybacks with a total consideration of S$88.9 million. Singapore Telecommunications again led the buyback tall","collect":0,"end_time":0,"defaultTopTitle":"sgx.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6519":"运输股","BK6136":"旅客陆运","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","BK6101":"陆运","C52.SI":"康福德高企业","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC"},"translate_title":"AGT增持Nam Cheong股份，Silchester增持ComfortDelGro股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"C52.SI":1.5},"content_text":"Over the five sessions through to the 28 May close, 22 primary-listed companies conducted buybacks with a total consideration of S$88.9 million. Singapore Telecommunications again led the buyback tally, with 14 million shares at an average price of S$4.47, purchased under the S$2 billion value realisation share buy-back programmeOver the five sessions, more than 80 director interests and substantial shareholdings were filed for around 35 primary-listed stocks. Directors or CEOs reported five acquisitions and two disposals, while substantial shareholders recorded 12 acquisitions and four disposals. This included CEO or director acquisitions filed for Aspial Lifestyle, First Resources, Geo Energy Resources and Nera Telecommunications.Azure Capital’s acquisition of 22,074,000 shares of Trek 2000 International under a share purchase agreement entered on 11 May was completed on 26 May, resulting in Azure Prime Fund VCC - Azure Singapore Equity Fund becoming a substantial shareholder with a deemed 7.3 per cent interest. Nam Cheong: AGT Accumulation Amid Improving Operating PerformanceGinko‑AGT Global Growth Fund increased its stake in Nam Cheong in May 2026 through on‑market acquisitions, raising its interest to 6.009 per cent from 5.996 per cent.  This follows an earlier February transaction which lifted its holdings above the substantial shareholder threshold, from 4.999 per cent to 5.062 per cent. The buying comes alongside stronger results, with 1QFY26 (ended 31 March) PATMI rising 160 per cent from 1QFY25 to RM78.9 million, driven by higher vessel utilisation and a gain on vessel disposal. Revenue increased 1 per cent to RM117.9 million with utilisation improving to 58 per cent as more vessels operated under long‑term charters.  Borrowings declined to RM405.1 million and net gearing fell to 0.17 times following debt repayment during the quarter.ComfortDelGro: Silchester Increases Stake Above 9%Silchester International Investors LLP increased its deemed interest in ComfortDelGro Corporation through filings in May following continued on-market purchases, with disclosures triggered as its stake crossed the 8 per cent and 9 per cent thresholds.On 8 May, it acquired 893,600 shares at an average price of S$1.4312, increasing its stake from 7.99 per cent to 8.03 per cent. This was followed by a further purchase of 1,935,800 shares on 21 May at an average price of S$1.2908, lifting its interest from 8.998 per cent to 9.087 per cent.These purchases followed its re-entry above the 5 per cent substantial shareholder threshold in January, with its stake subsequently moving above 6 per cent in February and 7 per cent in March.The pace of accumulation in 2026 has been quicker than the prior cycle, with multiple threshold crossings within about four months, compared to a more gradual build-up in 2023–2024.Silchester is a London-based investment manager established in 1994, specialising in international equities. It manages a single International Value Equity strategy through long-only commingled funds on behalf of institutional clients and seeks long-term returns from quoted equities. All ComfortDelGro holdings are classified as deemed interests, reflecting its role as investment manager with discretionary control over client portfolios.ComfortDelGro’s FY25 AGM highlighted a shift toward a more actively deployed balance sheet to support growth, following capital expenditure spending and acquisitions. Management noted revenue crossed S$5 billion for the first time, with international operations contributing over half, alongside continued expansion into 13 countries and a larger global fleet. Operationally, focus has moved to integrating recent acquisitions and extracting efficiencies, particularly in the point-to-point segment. While ROE has moderated from pre-COVID levels, ComfortDelGro noted this reflects structural changes including increased competition and evolving public transport models, with performance still benchmarked against global peers. The Group also reiterated its dividend framework, maintaining an 80 per cent payout ratio while targeting earnings growth to support higher absolute distributions.A March 2026 report by Corporate Monitor noted that while FY25 earnings improved, part of the uplift reflected one-off ERP 2.0-related inspection activity and higher leverage, with underlying performance in the taxi and private hire segment remaining weaker despite recent acquisitions. The ComfortDelGro 1QFY26 Business Update released in May showed revenue increased 5.0 per cent YoY to S$1.23 billion, supported by long-term Public Transport contracts. At the same time, the taxi and private hire segment remained under pressure from competition and cautious consumer spending, while management continued to prioritise integration and the build-out of higher-margin, platform-enabled mobility capabilities.Mooreast: Placement Supports Balance Sheet Flexibility and Project CapacityOn May 28, Mooreast Holdings proposed a placement of up to 44.45 million new shares at S$0.135 per share to raise up to S$6.0 million. ZICO Capital is placement agent and Maybank Securities is sub-placement agent on a best‑efforts basis. The placement is intended to strengthen the group’s financial position and capital structure, supporting its ability to take on additional projects while improving balance sheet flexibility. Proceeds will be deployed primarily for working capital, including manpower and administrative costs, with management noting that existing capital is largely committed to ongoing projects and the Shipyard Crescent development. The transaction also aims to broaden the shareholder base and enhance trading liquidity, while positioning the group to manage near‑term conditions and pursue future growth initiativesTrickleStar: Secondary Placement Completed with Capital Base ExpansionTrickleStar completed its secondary placement on 22 May, issuing 79.1 million new shares at S$0.0306 per share, increasing its issued share capital to 237.3 million shares. PrimePartners was the placement agent. The placement was undertaken to efficiently strengthen the company’s capital base and financial flexibility, supporting business expansion, including potential mergers and acquisitions, alongside working capital requirementsAspial Lifestyle: Equity Fund Raising Gains Institutional Backing and Liquidity LiftAspial Lifestyle completed a S$60.0 million private placement at S$0.402 per share, with the offering over two times covered and supported by institutional investors including Eastspring Investments (Singapore) Limited, ICH Synergrowth Fund, JPMorgan Asset Management, Lion Global Investors Limited and Value Partners Hong Kong Limited.  The placement forms part of a broader S$84.8 million equity fund raising, alongside a S$24.8 million preferential offering to existing shareholders. Proceeds are directed primarily towards business expansion, including scaling its pawnbroking and secured lending platforms, alongside working capital and potential acquisitions. The transaction follows the group’s transfer to the SGX Mainboard supporting broader institutional access, improved free float and enhanced trading liquidity.Koh Brothers Eco Engineering: Mainboard Transfer Application Koh Brothers Eco Engineering submitted its application to transfer from Catalist to the SGX Mainboard on 26 May, extending the recent run of upgrades among mid-cap issuers. Koh Brothers Eco Engineering states that its proposed transfer to the SGX Mainboard is intended to enhance its corporate profile, broaden its investor base and improve trading liquidity, particularly among institutional investors. The move is also expected to strengthen visibility and support future fund raising, given the Mainboard’s wider access to capital and deeper investor pool. In applying for the transfer, the company highlighted that it will be assessed against Mainboard admission thresholds, which require issuers to meet criteria relating to profitability, operating track record or market capitalisation, alongside higher standards of governance, disclosure and public float consistent with Mainboard requirements.The proposed transfer follows a cluster of completed moves over the past 12 months, including Oiltek International (6 June 2025), Ever Glory United Holdings (30 December 2025) and Ley Choon Group Holdings (23 March 2026) alongside the more recent May 2026 transfers of Aspial Lifestyle (4 May), MoneyMax Financial Services (6 May) and Choo Chiang Holdings (7 May). Koh Brothers Eco Engineering is also the controlling shareholder of Oiltek International Limited, with a 68.14 per cent stake.FLCT Expands European Logistics Footprint with €294.9m AcquisitionFrasers Logistics & Commercial Trust (FLCT) has entered into agreements to acquire interests in four logistics and industrial properties – two in Germany and two in the Netherlands – for approximately €294.9 million (S$441.5 million). The assets are fully leased with a weighted average lease expiry (WALE) of 5.7 years and comprise around 179,645 square metres of gross lettable area. The properties are located within established logistics clusters in Duisburg, Düsseldorf and Breda, with tenants including multinational corporations and third-party logistics providers, and exposure to e-commerce-related demand. Following completion, portfolio occupancy is expected to increase from 96.1 per cent to 96.3 per cent, while the proportion of logistics and industrial assets will rise from 75.1 per cent to 76.6 per cent. The acquisition is expected to be DPU accretive, with pro forma 1HFY26 DPU increasing from 2.95 to 3.00 Singapore cents and will be funded entirely through external debt financing. Strategically, the transaction deepens FLCT’s exposure to Germany and the Netherlands, two of Europe’s key trade-oriented logistics markets, and is aligned with its strategy to scale its logistics and industrial platform within existing markets. Share Buybacks by Primary-listed Companies by way of Market Acquisition (May 22 to May 28) Number of Shares/Units Purchased Buyback Consideration (incl stamp duties & clearing charges) S$   Avg price paid per share S$SINGAPORE TELECOMMUNICATIONS 14,000,00062,558,7674.47UNITED OVERSEAS BANK 294,40011,146,93937.86KEPPEL 770,0008,367,20710.87SINGAPORE EXCHANGE 200,0004,298,05221.49FOOD EMPIRE HOLDINGS 250,000748,1032.99HONG FOK CORPORATION 387,500375,2540.97PAN-UNITED CORPORATION 200,000297,9221.49A-SONIC AEROSPACE 397,000220,1750.55ULTRAGREEN AI 115,000200,4301.74ASPIAL CORPORATION 877,500144,0120.16FRASER AND NEAVE 85,800123,1061.43KARIN TECHNOLOGY HLDGS 483,200120,4990.25HOTUNG INVESTMENT HLDGS 41,90069,4121.66NORDIC GROUP 116,00067,6080.58OXLEY HOLDINGS 550,00044,9250.08HONG LAI HUAT GROUP 500,00043,1360.09CSC HOLDINGS 1,500,00021,0670.01ALLIANCE HEALTHCARE GROUP 100,00015,5320.16BAKER TECHNOLOGY 26,90013,3300.50INTRACO 10,4003,9580.38SARINE TECHNOLOGIES 11,0002,2690.21GHY CULTURE & MEDIA HOLDING CO10,0009280.09Total20,926,60088,882,631 Inside Insights is a weekly column on The Business Times, read the original version.Enjoying this read?Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}