WongTeekSon factory

Riverstone Holdings' CEO Wong Teek Son (photo) has been buying his company's shares in the open market in the past week or so, as follows: 


Date

No. of shares bought /price

Value

Total stake

14-Dec-2021

300,000 / $0.66

S$198,500

759,111,120 (51.2%)

13-Dec-2021

300,00 / $0.64

S$192,400

 

10-Dec-2021

300,000 / $0.61

S$182,000

 

Source: Company announcements


What CEO Wong Teek Son could be appreciating would include: 

chart12.21Riverstone has a market cap of S$992 million. Its cash holding as at Sept 2021 was approximately S$582 million. Chart: Yahoo!

• The Singapore-listed stock has corrected from around $2.00 in Aug 2020 to below 70 cents in recent weeks. Reason: the selling prices of its healthcare gloves have fallen from heights achieved on pandemic-fuelled buying by its customers.

• Interestingly, the upcoming dividend payout is likely to be outsized based on the outsized profit reported in the first 9 months of the year.

DBS Research report says:
"Expect bumper final dividend of 39 sen. Similar to last year, the group expects to pay a special dividend on the back of the super normal profits. Based on our projections and dividend payout ratio of 50% (same as FY20), DPS for FY21 works out to 49 sen (including interim DPS of 10 sen), implying an attractive final dividend of 39 sen or >16% yield*."

* based on stock price of 79 Singapore cents

 

Riverstone 

Share price: 
$0.67

Target: 
$1.20

Riverstone, which operates out of Malaysia, paid an interim dividend of 10 sen per share in October 2021.

Buoyed by strong profitability (net profit of RM1,307.1m in the first 9 months of this year), Riverstone's cash and cash equivalents surged 170% to RM1.8 billion as at 30 September 2021, from RM648.9m as at end of 2020.

DBS Research's target price for the stock is $1.20.



Share Prices

Counter NameLastChange
AEM Holdings4.340-0.100
Avi-Tech Electronics0.300-
Broadway Ind0.161-0.001
China Sunsine0.460-0.005
DISA0.004-
Food Empire0.5450.010
Fortress Minerals0.350-
Geo Energy Res0.4400.005
Golden Energy0.5300.015
GSS Energy0.057-0.002
InnoTek0.4400.005
ISDN Holdings0.515-0.005
ISOTeam0.090-
IX Biopharma0.168-0.001
Jiutian Chemical0.0960.002
KSH Holdings0.355-
Leader Env0.0620.002
Medtecs Intl0.187-
Meta Health0.031-
Moya Asia0.064-0.001
Nordic Group0.415-0.010
Oxley Holdings0.1860.001
REX International0.2450.005
Riverstone0.8300.030
Sinostar PEC0.220-
Southern Alliance Mining0.645-0.005
Straco Corp.0.390-
Sunpower Group0.380-
The Trendlines0.094-
Totm Technologies0.1280.001
UG Healthcare0.210-
Uni-Asia Group1.0800.010
Wilmar Intl4.1500.060
Yangzijiang Shipbldg0.9500.015

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1119 guests and no members online