On May 3, Hosen Group : 5EV 0% executive director and CEO Daniel Lim acquired 233,800 shares at S$0.04 per share. This increased his direct interest in the Catalist-listed stock from 2.04 per cent to 2.11 per cent.

 

Lim was appointed CEO on May 1. He joined the group in 1997, and was appointed executive director in March 2004. He is responsible for the brand building, procurement and international sales of the group&rsquo s portfolio of brands. He is also in charge of formulating the strategic direction and growth of the chocolate business.

 

Hosen was established in the 1970s and has since grown to become one of Asia&rsquo s leading importers, exporters and distributors of fast-moving consumer goods, specialising in processed food.

 

For its FY23 (ended Dec 31), the group recorded a net attributable profit of S$0.99 million compared to a net profit attributable to owners of the parent of S$1.2 million in FY22.

 

The group noted that it experienced lower sales demand and sales volume on the back of high inflationary and elevated interest rate conditions. The increase in administrative expenses and finance costs also posted challenges to the group.

 

However, despite a drop in overall sales, its revenue for house brands products over the group&rsquo s revenue increased in proportion from approximately 79.5 per cent in FY22 to 83.2 per cent in FY23, as the group focused on the sales of these products.