NextInsight readers visiting Mencast's operations. File photo.

Gay Chee Cheong

Gay Chee Cheong builds up stake in Mencast

Smart money is grabbing the opportunity to accumulate shares in sterngear equipment manufacturer Mencast Holdings.

Co-founder of 2G Capital Gay Chee Cheong first invested in Mencast in 2010.  He bought another 200,000 shares from the open market on 11 September, raising his interest to 9.03%.

He paid 55 cents apiece, 57% higher than what he paid way back in 2010.

Tuesday's open market purchase follows his purchase of placement shares in March this year.

His investment is making progress --- Mencast’s aggressive growth strategy via M&A has more than doubled its revenue from S$26.3 million to S$56.4 million over FY2009 to FY2011.

FY2011 EPS was 6 cents, 20% higher than the 5 cents in FY2009.  


To expand business, it has embarked on the following acquisitions over the past two years:

* Unidive Marine Services - topside (Rope Access) and subsea (diving) services for the offshore and inshore marine industry

* Top Great Group - engineering design, procurement, fabrication and installation of structural and precision engineering systems and plants

* Fabrication plant and machinery of a metal precision components manufacturer

* Vac-Tech - industrial and environmental cleaning services provider

Related story: MENCAST: Transformed, And Taking Off In Oil & Gas Industry

Ye Tianyun

8Telecom CEO continues to accumulate shares

8Telecom CEO Ye Tianyun is once again accumulating the shares of the telecom tower manufacturer.

Over the past 3 months alone, the CEO spent about S$100k purchasing from the open market 740,000 shares at an average price of 13.57 cents per share. His beneficial interest is now 74.4%.

He has been accumulating on the company’s shares every one or two weeks since 2009.

The Group’s 1H2012 net profit attributable to shareholders was up 28.3% at Rmb 9.4 million.

In July 2010, 8Telecom has made a strategic move to include property development as one of its core businesses.

It has successfully developed and sold high-end commercial property in Linping District, Hangzhou City, and has also acquired a larger-scale raw land in Wuchang District, Hangzhou City.


Related story: INSIDER BUYING: Osim, 8Telecom, Great Group, Etc

Urban Residences is a 5-storey, 47-unit apartment complete with attic developed by Wee Hur. It was more than 80% sold as at June 2012. Development of properties contributed 14% to FY2011 top line.

Wee Hur – share support and good dividend yield

At an EGM on 27 April this year, shareholders passed a share repurchase mandate that allowed Wee Hur to buy back up to 10% of its issued ordinary share capital within one year.

Subsequently, the company bought shares on 16 May and has purchased 13.2 million shares (2.02% of issued share capital ) in 5 months.

Its latest was on 7 September, of 442,000 shares at 27.5 cents per share, compared to 27 cents when the resolution was passed.

Other than share price support, Wee Hur also offers a high dividend yield of 6.8% (based on the last close price of 30 cents).

The construction player-cum-property developer reported a 96% year-on-year increase in profit attributable to shareholders to S$5.7 million on a 52% surge in revenue to S$128.0 million for 1H2012.

Related story: WEE HUR, LIAN BENG, HEETON: Riding On Property Boom

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