IT’S NOT JUST the executive chairman-cum-CEO, Derek Goh, who has a keen interest in buying the shares of his company, Serial System.
As followers of the stock know, Derek has been a regular buyer (see our report: HI-P reignites buyback program, SERIAL shares sought by chairman).
Looks like another substantial shareholder, Sam Goi, a billionaire, is also a keen buyer. He buys less frequently but buys big when he steps into the market.
Just last week, on 22 Oct, Sam Goi bought 3.885 million shares.
His previous purchase was in June when he bought 3,762,000 shares.
In all, he now owns a total interest of 11.50 %, reinforcing his position as the No.2 largest shareholder of Serial System, one of the top 3 semi-conductor component distributors in China.
The dividend yield is a key attraction of Serial stock: At the recent price of 10.2 cents, the 12-month trailing yield is about 5.39%, according to Bloomberg.
Recent story: SERIAL keeps up its dividends, STAMFORD TYRES targets India market
Read about Sam Goi at AsiaOne.
Straco Corporation, which is cash-rich, has embarked on a significant share buyback as a way to enhance shareholder value.
To date, it has bought back 21.1 million shares. Its purchases were regular and in small quantities throughout the past two years.
It might thus seem surprising that two of its non-executive directors sold shares recently. Quo Qiang and Fu Xuezhang each sold all 200,000 of their shares on 2 Oct.
However, they are likely to have done so to raise money to pay to convert their stock options into shares. They exercised 330,000 options each at 19 cents (see table below).
Straco Corporation operates in the tourism industry in China where it owns and runs the Shanghai Ocean Aquarium (SOA), its top profit contributor. Its other assets are Underwater World in Xiamen (UWX) and a cable car service in Xian.
Although all its businesses are in China, Straco is not an “S” chip as its top shareholder, Mr Wu Hsioh Kwang, who owns 54.6% of the company is a Singaporean.