Directors improve stakes in Aspial Lifestyle, Raffles Medical, Centurion, amongst others

OVER the 5 classes by way of to Thursday’s (May 21) shut, 23 primary-listed firms performed buybacks with a complete consideration of S$183 million.

Singtel led the buyback tally, with 25.5 million shares at a median value of S$4.76, bought underneath the S$2 billion worth realisation share buy-back programme on Thursday. 

Over the 5 classes, 120 director pursuits and substantial shareholdings had been filed for round 50 primary-listed shares. Directors or CEOs reported 16 acquisitions and 5 disposals, whereas substantial shareholders recorded 10 acquisitions and three disposals.

This included CEO or director acquisitions filed for Asian Pay Television Trust , A-Sonic Aerospace , Aspial Lifestyle , Centurion Corporation , Ho Bee Land , Hyphens Pharma International , Megachem , Mermaid Maritime , Nera Telecommunications and XMH Holdings .

Aspial Lifestyle: Chairman provides to stake on retail and lending progress

Aspial Lifestyle non-executive chairman, Koh Wee Seng, elevated his direct stake within the group, buying 2,108,300 shares between Monday and Thursday at a median value of about S$0.419 apiece.

This lifted his direct curiosity from 9.94 to 10.06 per cent, along with his complete curiosity growing from 80.78 to 80.87 per cent.

Aspial has launched an fairness fundraising to lift gross proceeds of about S$84.8 million, comprising a non-public placement and preferential providing priced at S$0.402 a share. This represents a reduction of about 8.1 per cent to the prevailing volume-weighted common value.

The transactions come amid continued earnings progress, with FY2025 income rising 41.3 per cent to S$830.1 million and revenue earlier than tax reaching S$102.5 million, supported by sturdy efficiency throughout its retail, pawnbroking and secured lending segments.

Retail stays the group’s core driver, contributing 87.5 per cent of income, whereas pawnbroking and secured lending proceed to learn from increasing pledge books and portfolio progress.

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Momentum into 2026 has additionally strengthened, with anticipated income of about S$247 million and revenue earlier than tax of S$40 million for Q1 FY2026, representing year-on-year progress of 48 per cent and 140 per cent, respectively, supported by sustained demand throughout its portfolio and continued enlargement in Malaysia.

Aspial is evaluating capital-raising initiatives to place for progress alternatives within the pawnbroking and secured lending segments and to reinforce capital construction flexibility, whereas sustaining a cautious stance given macroeconomic and commodity volatility.

Raffles Medical: Chairman will increase stake, maintains deal with China enlargement and capital administration

Dr Loo Choon Yong, chairman of Raffles Medical Group , elevated his direct stake, buying 522,000 shares at S$0.95 apiece on Monday. This lifted his direct curiosity to 252,445,223 shares, along with his complete curiosity now representing 56.31 per cent of the group. 

Management continues to deal with progress drivers by way of enlargement in China throughout Beijing, Shanghai and Chongqing, addressing home affected person demand.

The group maintains a disciplined strategy, specializing in outlined service segments, price administration and partnerships with main public hospitals to help affected person volumes and repair uptake.

Capital administration additionally stays a key focus, with a FY2025 ultimate dividend of S$0.03 a share representing about 84 per cent of sustainable earnings, alongside ongoing share buybacks. 

Centurion: Director will increase stake amid sturdy occupancy and rental progress

Centurion’s non-executive director and joint chairman Han Seng Juan elevated his direct stake within the group, buying 247,800 shares at S$1.46 apiece on Monday. This lifted his direct curiosity to fifteen.36 per cent; his complete curiosity now represents 44.36 per cent of the group.

The improve comes alongside continued working momentum, with Q1 FY2026 income rising 30 per cent 12 months on 12 months to S$89.4 million, supported by excessive occupancies and rental reversions throughout its purpose-built employee and scholar lodging belongings.

The group continues to scale its dwelling sector platform, with about S$3 billion in belongings underneath administration throughout 81,388 beds in 5 international locations, supported by revenue streams from owned belongings, administration providers and Centurion Accommodation Reit-related revenue.

Ho Bee Land: Deemed curiosity edges increased amid portfolio repositioning

On Wednesday, Ho Bee Land government chairman Chua Thian Poh’s deemed curiosity elevated after market purchases of fifty,000 shares by his partner and one other 93,600 shares by Ho Bee Holdings, for a mixed 143,600 shares at about S$2.03 apiece.

After these transactions, his deemed curiosity elevated from 75.72 to 75.74 per cent.

At Ho Bee Land’s current annual basic assembly, administration highlighted ongoing portfolio repositioning initiatives, together with plans to redevelop 1 St Martin’s Le Grand and enhancement work at 67 Lombard Street.

The group additionally reiterated its strategy to balancing reinvestment, debt discount and shareholder returns, with a basic dividend payout vary of 20 to 50 per cent of revenue excluding non-cash objects, alongside a ultimate dividend of S$0.05 a share for FY2025.

XMH: Director continues so as to add to stake amid wholesome order guide

XMH chairman and managing director Tan Tin Yeow elevated his stake within the group, shopping for 119,100 shares throughout transactions on May 15 and Monday at about S$2.27 apiece, lifting his curiosity from 66.05 to 66.16 per cent.

Tan based the group’s distribution arm and secured its unique distributorships. He continues to supervise technique, company planning and enterprise growth.

XMH’s income for its first half ended Oct 31, 2025, rose 40.5 per cent 12 months on 12 months to S$94 million; revenue after tax elevated 23 per cent to S$15.5 million, pushed by progress throughout all segments.

Since the outcomes had been posted, Tan has elevated his curiosity from 64.18 per cent.

The group additionally famous {that a} wholesome order guide continues to offer visibility into H2 FY2026.

Hyphens Pharma: Chairman provides to stake on continued earnings and margin enchancment

Executive chairman and CEO Lim See Wah elevated his stake in Hyphens Pharma International, shopping for 280,000 shares throughout transactions on Monday and Tuesday at a median value of about S$0.322 a share.

This lifted his complete curiosity from 47.90 to 47.99 per cent.

Lim holds his deemed curiosity by way of Inomed Holding, reinforcing his place because the controlling shareholder.

The acquisitions comply with improved monetary efficiency in FY2025, with the group delivering increased gross revenue and attaining its highest gross revenue margin so far, supported by product-mix optimisation and progress in its pharmaceutical and medical aesthetics section. 

Management has outlined a continued deal with increasing proprietary manufacturers, strengthening its core pharmaceutical platform and enhancing operational effectivity, with progress supported in Singapore and regional markets.

A‑Sonic Aerospace: CEO will increase stake

A-Sonic Aerospace CEO Janet LC Tan elevated her direct stake within the group by way of open-market purchases of 175,000 shares at a weighted common value of about S$0.581 apiece between May 12 and 15.

This lifted her direct curiosity to 66,338,000 shares, representing 65.87 per cent of the group. The improve consolidates her majority stake alongside ongoing share buybacks by A-Sonic.

Management continues to deal with operational effectivity, digitalisation and strategic partnerships to reinforce resilience and long-term progress, following a 15.6 per cent year-on-year improve in FY2025 revenue earlier than tax to US$4.204 million.

TOTM placement to fund AI enlargement

TOTM Technologies introduced on Monday a proposed placement of as much as 220.5 million new shares at S$0.025 every, elevating gross proceeds of about S$5.5 million. SAC Capital is the position agent with Maybank Securities the sub-placement agent.

The new shares characterize 14.5 per cent of the present share base and 12.7 per cent post-enlargement, implying measured dilution with no switch of management. 

The placement is being undertaken primarily to develop the group’s enterprise in rising expertise sectors, together with funding for its TOTM.AI initiative, whereas additionally offering capital for acquisitions, investments and joint ventures.

Management has stated that present assets are ample for present wants, which positions the increase as being growth-oriented.

Proceeds will likely be deployed primarily in direction of expertise enlargement, with the steadiness allotted to working capital, supporting the group’s transition into synthetic intelligence, blockchain and digital infrastructure capabilities whereas sustaining operational flexibility. 

Bank of America crosses 5% in AEM by way of prime brokerage positioning

A submitting on Tuesday confirmed that Bank of America, by way of its wholly owned subsidiary NB Holdings Corporation, elevated its deemed curiosity in AEM Holdings from 4.73 to five.31 per cent after a change on May 15.

The improve of 1,843,198 shares displays positioning by way of prime brokerage actions, the place Merrill Lynch International and BOA Securities retain rights to rehypothecate shopper shares, alongside a small disposal of 23,400 shares held in principal capability.

The curiosity stays totally deemed with no direct holding on the dad or mum stage and is aggregated throughout wholly owned subsidiaries, together with BofAML Jersey Holdings and Merrill Lynch International.

The author is the market strategist at Singapore Exchange (SGX). To learn SGX’s market analysis experiences, go to sgx.com/analysis.