GSH chart1.16GSH chart: www.FT.com

THE STOCK MARKET has been declining -- and giving Goi Seng Hui more opportunities to raise his stake in the company that bears his initials, GSH Corporation.


Shares of GSH, a property and hospitality play, traded recently at 23 cents, which is the lowest in about four years.

In December 2015 and this month (Jan), he made 13 purchases in the open market, totalling 9,479,400 shares, and now owns 958.4m shares, or 48.48% of the company.


samgoi5.14Sam Goi.Prior to that, the executive chairman of GSH Holdings, Sam Goi, as he is popularly known, last bought in July 2015.

In all, in the past 11 months (ie from March 2015-Jan 2016), he has bought 22,829,880 shares of GSH, which exited its legacy electronics and IT distribution business in 2014.

As a pure property and hospitality business, GSH attracted Lippo Capital to become a substantial shareholder with a stake of 5.01% in GSH as of Jan 2015.

Lippo Capital is the holding company of an entity which has joint control of Lippo ASM Asia Property Limited, which is a holding company of OUE. 

Another quality substantial shareholder of GSH is Far East Organisation Centre, with a stake of 5.06% since August 2013. Far East is the largest private property developer in Singapore.

GSH has a market cap of S$474 million, a trailing dividend yield of 1.04% and PE of 6.8X, according to Bloomberg data.

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