Andy Lim

RIGHT AFTER Viking Offshore & Marine announced its 2Q results, its chairman, Andy Lim, started a share buying spree on Aug 10.

From nothing in his own name, he now owns 9,335,000 shares. His latest announced purchase happened on Aug 19 involving 460,000 shares.

In total, he is estimated to have spent over $900,000.

He has a deemed interest in 144.1 m shares, or a 23.93% stake.

For 1H, Viking Offshore posted revenue of $48.6m, or a 37% year-on-year growth. Its after tax profit rose 7% to $5.1 m. Earnings per share came up to 0.9 cents. 

Promoter Hydraulics, a subsidiary of Viking, is the largest supplier of hydraulic winches and power packs in South East Asia. Photo: Viking website

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Dr Pu Weidong

Triumpus Capital has proven to be a consistent buyer of shares of Sinopipe Holdings.

Its latest purchase of 100,000 shares brings the total bought in the past 12 months from 10.904 m to 19.951 m, or a 7.8% stake.

Triumpus Capital is run by Dr Pu Weidong, who once was an investment analyst with UOB Kay Hian in Singapore.

In 2006, he joined Sinomem Technology as Vice President for Corporate Planning, Strategic Investment and Investor Relations, and resigned in 2009.

For HY2011, revenue grew 13.9% to RMB 430.0 million from RMB 377.4 million recorded in HY2010. The growth was mainly attributable to an increase in revenue for the drainage, sewerage, telecommunication and electrical operating segments under the plastic pipe business.

Net profit for HY2011 grew by 4.8% to RMB 25.8 million, which is 11.46 RMB cents a share.

Compared to its recent stock price of about 18 Singapore cents, its net asset value per share as at 30 June 2011 stood at 264.34 RMB cents.

On-site production of steel encircled large pipes. Photo: Company




Yaw Chee Siew, executive chairman, Otto Marine. Photo by Sim Kih

Otto Marine’s chairman, Yaw Chee Siew, kicked off his first ever Otto share purchase on Aug 12.

He has since gone into the market to buy on every trading day, and shows no signs of letting up.

Yesterday, he bought 188,000 shares, bringing the total to date to 2,756,000.

Assuming an average price of 14 cents, his purchases so far cost about $385,840.  

He has a deemed interest in another 1.2 billion shares, or 63.38% of the company.

Otto Marine has just reported a $40.9 million loss in 2Q compared to a $17.3 million net profit in the previous corresponding quarter.

The 1H was a loss of $36.8 million, primarily due to:

(1) shipbuilding segment – lower revenue recognition ($68 million) and reversal of profit due to termination of the sales contracts for two large AHTS vessels ($21 million);

(2) geophysical segment – lower utilisation of seismic vessels ($13 million) resulting from increased mobilization time; and

(3) other income/expenses – mainly increased losses arising from fair value changes of foreign exchange forward contracts ($9 million).

The above were partially offset by a decrease in foreign exchange losses ($31 million) as well as adecrease in reversal of profit for vessels sold to associates ($4 million).

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#1 Abter 2011-08-23 15:51
Just read this evening that Andy Lim bought another 490,000 shares of Viking.

This is one stock to watch out for....

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