Chairman Wee Cho Yaw has been increasing his indirect stake in Haw Par Corp via his family’s investment vehicle. Wee Investments acquired a total of 551,000 shares at an average price of $6.58 apiece between Sept 14 and 19, raising his deemed stake in the company to 33.27% from 32.99%.

The 82-year-old Wee is chairman of United Overseas Bank Group and one of United Industrial Corp (UIC)’s two largest shareholders.

Under Wee’s leadership, Haw Par divested several non-core businesses to focus on its main business of manufacturing healthcare products such as ointment and medicated plasters under established brands Tiger Balm and Kwan Loong. The company also owns and operates Underwater World in Singapore and Pattaya in Thailand, as well as the Chengdu Haw Par Oceanarium in China.

For the six months ended June 30, Haw Par recorded revenue of $68.9 million, a 6.2% increase over the same period last year. However, half-year earnings decreased 3% to $54.8 million from $56.6 million in 1HFY2011, owing to lower investment income. On Sept 12, it paid a one-tier, tax-exempt interim dividend of six cents a share, representing a yield of about 0.9% at its current stock price.

Elsewhere, at BRC Asia, group managing director Lim Siak Meng has been buying shares in the steel reinforcing solutions provider. From Sept 14 to 20, Lim purchased a total of more than 2.75 million shares at an average price of 13.5 cents each on the open market, raising his direct shareholding from 4.32% to 4.64%.

Lim has more than 30 years’ experience in the construction industry. He joined BRC Asia as a sales representative in 1973 and rose through the ranks to become group managing director in 1999.
 Meanwhile, Sia Ling Sing, BRC Asia’s chairman, has also been increasing his indirect stake through his investment vehicle, which scooped up 3.62 million shares at an average price of 13.6 cents each between Sept 17 and 26. The acquisitions raised his deemed interest to 28%.

For 3QFY2012 ended June, BRC Asia posted a net profit of $5.34 million compared with $2.05 million a year ago. The group’s revenues rose 51.7% to $102.1 million, driven by higher sales volume owing to Singapore’s buoyant construction sector as well as higher average steel costs and unit selling prices.

Over at Serial System, Derek Goh Bak Heng, CEO and founder, increased his direct stake in the company. Goh purchased 1.27 million shares on five occasions on the open market between Sept 19 and 27 at around 10.3 cents each. This makes Goh the largest shareholder in Serial System with a 35.62% stake.

Listed on the Singapore Exchange in 1997, Serial System supplies electronic components and products to original equipment manufacturers and sub-contractors, as well as logistics support for various industries in Asia-Pacific.

For its 2Q ended June, Serial System posted revenues of $218 million, a 6% increase from the same period last year. However, earnings for the quarter fell 24% to $3 million owing to higher expenses arising from increased cost of businesses. Serial System’s shares closed at 10 cents on Oct 3.

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