Between Apr 17 and 18, Progen Holdings : 583 0% managing director Lee Ee acquired 3.27 million shares at an average price of S$0.049 per share. With a consideration of S$160,129 this increased his total interest in the Catalist-listed company from 50.03 per cent to 50.87 per cent.

 

Progen Holdings has more than four decades of experience in the design, supply, installation, and maintenance of air-conditioning and mechanical ventilation systems with subsidiaries in Singapore and Malaysia.

 

Lee is the founder of the group and was first appointed to the board of directors in July 1996 when the company was incorporated.

 

He has more than 50 years of experience in the air-conditioning, refrigeration, and climate control industry. He started his career in Amcol in 1970 and later served as engineering sales manager in Sime Darby (S) and as dealer development manager in York International. He also spent 10 years in private companies before setting up his own business, Progen Pte Ltd in 1981.

 

Progen Holdings&rsquo group revenue for FY22 (ended Dec 31) increased by S$1.3 million or 32.7 per cent, to S$5.2 million from S$3.9 million for FY21. The group recorded a profit net of tax of S$1.6 million in FY22, compared to a loss of S$2.7 million in FY21, mainly due to recognition of share of results of an associated company. With the sale of the properties developed by the associated company picking up, the group recognised its proportionate share of the associated company&rsquo s earnings in FY22.