Ng Kai Wa, co-founder and CEO of InnoMedia Pte Ltd, sold 2,000 shares in Creative Technology on the open market on Nov 8, paring his direct stake to 3.348% from 3.351%. This is in addition to the aggregate of 30,600 shares that he disposed of earlier, also on the open market, from Nov 2 to 4.

Ng was the co-founder and chief technology officer of Creative Technology, where he was responsible for developing several products that gained international success. He was also the vice-chairman of the board at Creative Technology.

Creative Technology was listed on the Nasdaq in 1992. Two years later, the company sought a secondary listing on the Singapore Stock Exchange, which brought in around $230 million. Ng resigned from the company a year after the company listed on SGX but retained his stakeholding. In 2005, he became the non-executive independent director of Creative Technology.

 

Known for its digital entertainment products, Creative Technology has set global standards with its digital audio technologies for personal computers. Its associated product line includes personal media players, sound cards, web cameras, speakers, keyboards and headphones.

 

Last month, Creative Technology reported net sales of US$52.2 million ($67.12 million) for the first quarter ended Sept 30, 2010 (1QFY2011), which was 21% lower y-o-y. The company attributed the lower revenue to the challenging market for its products, particularly for personal digital entertainment products. Meanwhile, net loss for 1QFY2011 was bigger at US$3.6 million compared with US$1 million in 1QFY2010.

 

Elsewhere at Vallianz Holdings, substantial shareholder Jonathan Lim Keng Hock sold 20.8 million shares in a series of open market transactions on Nov 4, reducing his direct stake to 10.29% from 13.78%. This is in addition to the 9.8 million shares he disposed of in the two preceding days.

 

Lim was the non-executive director and vice-chairman of Vallianz. On Sept 23, he resigned from his position at Vallianz to focus on other businesses.

 

Besides being the executive chairman of Adventus Holdings, Lim is also an investor, promoter and venture capitalist of various companies in the advanced materials, oil sands, heavy oil and mineral businesses.

 

Formerly known as Enzer Corp, Vallianz changed its business focus from consumer electronics to offshore marine-related assets in August and is now a vessel and equipment- owning company that provides marine support services, primarily vessel ownership, leasing and fleet management.

 

Last month, Catalist-listed Vallianz reported group revenue of US$306,000 in the half year ended Sept 30, 2010 (1HFY2010) against US$12,000 in 1HFY2009. The higher revenue was mainly due to contribution from the group’s newly acquired subsidiary, Samson Oceanic. The group also posted a turnaround in net profit to US$42,000 in 1HFY2010 from a loss of US$545,000 in 1HFY2009.

 

At Poh Tiong Choon Logistics, substantial shareholder Adrian Ho Kim Lee bought 372,000 shares in a series of open market transactions on Nov 9, increasing his direct stake to 8.73% from 8.56%.

 

Founded in 1950, Poh Tiong Choon Logistics provides land transportation, warehousing, stevedoring, container services, equipment renting, leasing and general contracting services.

 

In August, the group reported a 24% drop in revenue for the first half

ended June 30, 2010 (1HFY2010) to $48.3 million against $63.8 million in 1HFY2009, owing to the lower volume handled by the transportation and bulk cargo division during the period. As a result, net earnings for 1HFY2010 also fell 70% to $3.7 million from $12.5 million in 1HFY2009.

 

Although the board of Poh Tiong Choon Logistics is maintaining a cautious view of the outlook for the remainder of the year, the logistics firm is optimistic of remaining profitable. In August, the directors declared an interim dividend of 0.75 cents per share for FY ending Dec 31, 2010.
 

 

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