Uni-Asia and TAP CEOs Add to Stakes

For the five trading sessions spanning April 10 to April 16, institutions were net sellers of Singapore stocks, with net institutional outflow of S$282 million, taking the accumulated net outflow for 1H26 to April 16 to S$404 million.

Stocks that saw the highest net institutional outflow over the five sessions included DBS Group Holdings, Singtel, Keppel, Thai Beverage, Jardine Matheson Holdings, Yangzijiang Shipbuilding, SATS, City Developments, CapitaLand Integrated Commercial Trust and Wilmar International.

Meanwhile, Sembcorp Industries, Venture Corporation, UMS Integration, iFAST Corporation, UOB‑Kay Hian, Singapore Airlines, Frasers Logistics & Commercial Trust, Haw Par Corporation, Mapletree Pan Asia Commercial Trust and United Overseas Bank led the net institutional inflow. 

Share Buybacks 

Over the five sessions, 15 primary-listed companies conducted buybacks with a total consideration of S$17.9 million. Stoneweg Europe Stapled Trust also bought back 30,000 units on April 13 at €1.50 apiece. This takes the number of units bought back on the mandate to 6.4 million or 1.14 per cent of the total units issued as of the mandate approval date. 

The Manager of Stoneweg Europe Stapled Trust maintains its buybacks remain a tactical capital management lever, used when unit prices diverge materially from intrinsic value while preserving liquidity. It also has highlighted that roughly €10 million deployed in 2025 lifted DPS by 1.1 per cent, illustrating the incremental impact of disciplined, opportunistic execution.

Director Transactions

Over the five sessions, over 100 director interests and substantial shareholdings were filed for more than 40 primary-listed stocks. Directors or CEOs reported 12 acquisitions and two disposals, while substantial shareholders recorded two acquisitions and 17 disposals. 

This included CEO or director acquisitions filed for ABR Holdings, Lincotrade & Associates Holdings, Nera Telecommunications, Sasseur REIT, Soup Holdings, The Assembly Place Holdings, Uni‑Asia Group and XMH Holdings.

Uni-Asia Group

Between April 14 and 15, Uni-Asia Group executive director and CEO Masahiro Iwabuchi acquired 40,000 shares at an average price of S$0.925 per share. This increased Mr Iwabuchi’s direct interest in the company from 1.40 per cent to 1.45 per cent. 

His preceding acquisition was in May 2025, with 454,300 shares acquired at S$0.78 per share. He leads the property investment department with deep banking and real estate experience across Asia and holds directorships across multiple group subsidiaries. Mr Iwabuchi maintains the Group’s strategy remains anchored to the Group’s “Goal Pyramids” for business transformation. While near‑term conditions remain uncertain, focus is on strengthening recurring income across Shipping and Japan property, optimising the asset base following fleet renewal and the return of MV Glengyle, extracting cross‑selling opportunities between Shipping and Property, and investing in people, systems and risk management to support scalable growth. 

The Assembly Place: CEO Share Purchases and FY25 Maiden Results

The Assembly Place’s Executive Director and Chief Executive Officer, Eugene Lim, made on‑market purchases of 105,600 shares at S$0.24 per share on March 30 and 84,600 shares at S$0.235 per share on April 9. Mr Lim maintains a 25 pr cent direct interest rate in the stock. The Assembly Place is Singapore’s largest and most diversified community living operator. Prior to the March 30 open, The Assembly Place posted strong maiden results with FY25 revenue surging 42.4 per cent FY24, to S$27.0 million and 24.2 per cent growth in adjusted net profit of S$7.7 million (which excluded non-recurring IPO expenses of S$1.1 million). Revenue growth was driven by increase in key count from 2,106 as of end FY24 to 3,422 as of end FY25, with average occupancy rate at 94.4 per cent during the year.

In FY26, The Assembly Place has secured additional properties which are expected to add approximately 1,490 keys to its portfolio over the next 2 years. New projects and acquisitions include the Group’s first migrant workers’ dormitory with 886 beds and a property at 163 Tras Street to be converted into a 163-room hotel. 

Skylink Holdings: Insider Buying, Key Business Updates on its Operational Resilience

Skylink Holdings’ Executive Director and CEO, Wesley Shen Wende, acquired 100,000 shares at an average price of $0.260 per share and 100,000 shares at an average price of $0.240 per share on April 8 and 9 respectively. Non-Independent Non-Executive Chairman, Teh Wing Kwan, also acquired 100,000 shares at an average price of $0.245 per share on April 9 and CFO, Mr Leonard Teh Cheng Hooi, acquired 100,000 shares at an average price of $0.245 per share on April 9.

Indicative of their confidence in the business, this followed the Group providing key business updates for 2HFY26 on April 7. Skylink highlighted operational resilience, highlighting more long-term commercial vehicle leasing contracts, addition of new hire purchase financing loan books, and completion of more repairs and maintenance (“MRO”), and bodywork customisation jobs. Given the structural roles of the Group’s core businesses within Singapore economy and the recently announced EV initiatives, the Group has seen increased business volume during 2HFY26, which remained resilient despite heightened geopolitical risks. The majority of the Group's leases are under long-term contracts with a diversified base of customers, which serves as a strong safeguard against market concentration and business risks. 

InnoTek: Placement‑Funded Capacity for an AI‑Led Mix Shift

InnoTek is a diversified manufacturing group with exposure across TV/display, office automation, automotive and AI server platforms. On 15 April, the group announced the completion of a placement of 24.6 million new shares at S$0.6506, raising approximately S$16.0 million gross, with Maybank Securities acting as placement agent. Following completion, the company’s issued share base increased to 257.9 million shares. Lion Global Investors, a subsidiary of OCBC and a principal banker to the group, was disclosed as one of the end‑placees.

Net proceeds are intended mainly for acquisitions, strategic alliances, Southeast Asia expansion and working capital. In FY25, revenue declined 11.8 per cent year on year to S$209.9 million, while net profit attributable to shareholders fell to S$2.0 million. The group ended the year in a net cash position of S$57.3 million. Automotive and TV/display demand softened, while office automation sales weakened amid project delays. Offsetting this, AI server contributions increased, with mass production for NVIDIA‑related and IEIT products commencing in 4QFY25.

Management expects NVIDIA, alongside associated ODMs, to emerge as one of InnoTek’s top ten customer clusters. FY26 priorities include establishing a US office, higher capex for precision equipment and capacity expansion, and development of liquid‑cooling solutions. The group also flagged ongoing trade and geopolitical risks, particularly in China, as a factor affecting project timing. In September 2025, InnoTek divested its 70 per cent stake in Hua Yuan Sheng Industrial, exiting a non‑core, loss‑making asset to sharpen focus on higher‑value activities. For the first 16 weeks of 2026, the stock averaged S$1.4 million in daily trading turnover, up from around S$70,000 a year earlier, and ranked among the top 60 stocks by net institutional inflows over the same period.

VCPlus: Equity Subscription and FY2025 Transition Update

On April 14, VCPlus announced a proposed subscription raising S$1.19 million, via the issuance of 350 million new shares at S$0.0034 per share to a private investor. Proceeds are intended to strengthen the Group’s financial position, improve cash flow and support working capital, with an equal split between funding its AI digital marketing business and general operating needs. VCPlus noted that FY25 marked a year of transition and strategic repositioning, with the Group reporting a net loss of approximately S$2.5 million, including S$1.1 million of impairment related to legacy intangible assets and goodwill. Revenue was affected by the non‑renewal of a white‑label digital asset wallet contract following its expiry in March 2025, alongside ongoing competitive pressure in digital marketing. While the Group recorded net current liabilities as of December 31, the financial statements were prepared on a going‑concern basis, supported by ongoing cost optimisation initiatives and shareholder support. 

Octopus (APAC): S$5.0m Strategic Placement with Grupo Osborne

On April 10, Octopus (APAC) Holdings (formerly GS Holdings Limited) entered into a subscription agreement with Grupo Osborne, S.A.U. for a proposed placement raising S$5.0 million, through the issuance of 73.5 million new shares at S$0.068 per share, representing approximately 6.8 per cent of existing share capital. Net proceeds of around S$4.97 million are intended to strengthen liquidity, fund working capital, and support business expansion and strategic initiatives, with the investment complemented by a master distribution agreement between the subscriber and the Group’s operating subsidiaries.

According to the company, the partnership is intended to move Octopus beyond distribution into brand creation and upstream value capture, leveraging Grupo Osborne’s production capabilities alongside Octopus’ regional market knowledge. It stated that jointly developed wines and spirits will be tailored for Asian consumer preferences, with economics from co‑developed products shared equally between both parties, supporting a higher mix of premium, brand‑led offerings.

Inside Insights is a weekly column on The Business Times, read the original version.

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