Weekly | $HLH, $QAF, $PSC: Earnings Stability Drives Insider Accumulation
A wave of insider buying across Singapore-listed names—from property and consumer staples to industrial platforms—signals improving confidence following FY25 earnings.
At the same time, capital raises and strategic repositioning highlight a broader shift toward balance sheet strengthening and long-term growth execution.
1. $Hong Lai Huat(CTO.SI)$
Hong Lai Huat Executive Deputy Chairman and Group CEO Ong Bee Huat on 28 April acquired 244,400 shares at an average price of S$0.097 per share.
The transaction increased his total interest in the company to approximately 47.34% of issued share capital, including deemed interests. Dato’ Dr Ong is the founder of the Group and is responsible for its overall strategic direction, planning and business development.
2. $QAF(Q01.SI)$
QAF independent non‑executive director Basil Chan on 27 April acquired 20,000 shares for an aggregate consideration of S$21,000. The transaction increased his direct interest in the company to approximately 0.004% of issued share capital. Mr Chan was appointed to the Board in July 2025 and serves on the Audit and Risk Committee.
3. $PSC Corporation(DM0.SI)$
PSC non‑executive and independent director Paul Tan on 27 April acquired 100,000 shares at an average price of S$0.48 per share.
The transaction increased his direct interest in the company to approximately 0.018% of issued share capital. Mr Tan was appointed to the Board in April 2024 and serves as Chairman of the Audit and Risk Committee.
4. $Hong Leong Asia(H22.SI)$
Hong Leong Asia reflects a platform‑based Industrials earnings profile, with operating outcomes framed around delivery volumes, asset utilisation and product execution across two established business lines.
On 29 April, Hong Leong Asia announced a placement of 50 million new shares at S$2.90, raising approximately S$145 million in gross proceeds, with CGS International Securities Singapore appointed as sole placement agent. Net proceeds of about S$142.3 million are intended primarily for general corporate purposes, including investments, business expansion and repayment of borrowings, with the balance allocated to working capital. The placement represents about 6.7% of issued shares prior to issuance and does not result in a change of control.
5. $Green Build(Y06.SI)$
Green Build Technology proposed a placement on 29 April for the issuance of 600 million new shares at S$0.016 per share, raising gross proceeds of S$9.6 million, alongside 360 million free, non-transferable warrants exercisable at S$0.02 per share, to Helyon Pte Ltd, a newly incorporated Singapore entity in the data centre and information services space.
The issue price represents a 20% discount to the VWAP of S$0.02 based on trades on 13 April, the last trading day prior to the signing of the subscription agreement. Upon completion, Helyon will hold 63.68% of the enlarged share capital, rising to 73.72% on full warrant exercise, triggering both shareholder approval requirements and a mandatory general offer under the Take-over Code.
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