Insider Moves (January 25-27)
by Ernie B. Calucag
Yu Zhong Jiang, a director of GRP Ltd, ceased to be a substantial shareholder of the group when he disposed 24.5 million direct shares at S$0.24 per share as part of a sale and purchase agreement with both Chen Wei and Kee Chee Chiang. The divestment left Mr Yu with 0.72 per cent direct stake in GRP; his deemed interest remains at 4.5 million shares, or 3.23 per cent of the China-based pipe and fitting manufacturing group.
Chen and Kee, meanwhile, both raised their direct stakes in GRP to 8.97 per cent and 8.62 per cent, respectively.
Elsewhere, Temasek Holdings decreased its deemed interest in K-Green Trust, owner of green infrastructure assets in Singapore, Europe and the Middle East. Temasek reduced its share from 54.05 per cent to 49.17 per cent as a result of the divestment of K-Green Trust units by Aranda Investments Pte Ltd, an indirect wholly-owned subsidiary of Temasek.
Meanwhile, SBI Travel ceased to be a substantial shareholder of Hong Kong-based travel agency, Westminster Travel Ltd. SBI disposed of its entire direct shareholding of 164.5 million shares (58.75 per cent equity stake) as part of debt settlement agreement with e-2 Capital Inc, a Hong Kong-based financial services group.