Between May 20 and 22, Riverstone Holdings founder, executive chairman and chief executive officer Wong Teek Son acquired 1.5 million shares at an average price of S$0.717 per share. This increased his total interest in the Malaysian-based leading clean room gloves manufacturer from 51.34 to 51.44 per cent. 

 

His preceding acquisitions on the open market were in December 2021, when 2.79 million shares acquired. The preceding acquisitions were acquired over nine transactions, which began at S$0.607 a piece on Dec 10, and ended on Dec 29 at S$0.725 apiece. Wong has played a key role in growing the group&rsquo s client base and strengthening global ties. He also leads business strategy and oversees group operations.

 

His more recent acquisition follows the Q1 FY2025 business update, which reported a revenue gain of 1.1 per cent from Q1 FY 2024, while net profit declined 21.8 per cent to RM56.4 million (S$17.1 million) from RM72.2 million. Riverstone Holdings sells in US dollars, and the US dollar/ringgit exchange rate was 5 to 6 per cent weaker in Q1 FY2025 versus Q1 FY2024. FY2024 revenue thus increased 17 per cent from FY2023 to RM1.07 billion, while net profit climbed 30 per cent to RM287 million.

 

Nitrile gloves remain the group&rsquo s main revenue driver while the United States, South-east Asia, and Europe are its key markets. At the FY2024 annual general meeting in April, Wong said that the company has added new clean room customers, and is expanding to boost capacity and order flexibility. Since the pandemic, he noted, healthcare buyers have shifted to smaller, more frequent orders &ndash especially in Japan and Australia.

 

Wong said that Riverstone&rsquo s single production lines suit this trend well, and supported the company&rsquo s strategy to deliver customised products quickly and efficiently. Wong also highlighted that the company secured two new contracts for healthcare products last year, with anticipated double-digit percentage growth for this year. This means its current order book stands at approximately 700 million units per month, encompassing both clean room and healthcare products.

 

In the five sessions from May 16 to 22, 18 primary-listed companies have made buybacks with a total consideration of S$67.6 million

 

[SINGAPORE] Over the five trading sessions from May 16 to 22, institutions were net sellers of Singapore stocks, with net institutional outflows of S$65 million, adding to net outflows of S$55 million for the preceding four sessions. This brings the net institutional outflow for the 2025 year to May 22 to S$1.73 billion.

 

The stocks that had the highest net institutional outflows over the five sessions were DBS : D05 +0.61%, OCBC : O39 +0.93%, Yangzijiang Shipbuilding Holdings : BS6 -3.74%, UOB : U11 +0.14%, Mapletree Industrial Trust, : ME8U 0% CapitaLand Ascendas Reit : A17U 0%, Genting Singapore : G13 +0.71%, Frasers Logistics and Commercial Trust : BUOU 0%, Sats : S58 0%, and Thai Beverage : Y92 0%.

 

Leading the net institutional inflows were Singapore Airlines : C6L -0.42%, ST Engineering : S63 -0.53%, Singapore Exchange : S68 -0.14%, CapitaLand Integrated Commercial Trust : C38U 0%, Hongkong Land : H78 +0.76%, SIA Engineering : S59 0%, Sembcorp Industries : U96 -1.5%, Seatrium : 5E2 +0.49%, Wilmar International : F34 +0.33%, and UOL Group : U14 -0.35%.

 

From a sector perspective, financial services and real estate investment trusts (Reits) experienced the highest net institutional outflow, while industrials and real estate (ex-Reits) had the most net institutional inflows.

 

In the five sessions, 18 primary-listed companies made buybacks with a total consideration of S$67.6 million. Secondary-listed Hongkong Land conducted share repurchases in each of the five sessions, with 2,395,200 shares bought at an average price of US$5.19 apiece. The manager of ESR-Reit also bought back 338,700 units at an average price of S$2.19.

 

More than 70 director interests and substantial shareholdings filed for more than 30 primary-listed stocks. Directors or CEOs filed 16 acquisitions, and no disposals, while substantial shareholders filed nine acquisitions and six disposals. This included director or CEO acquisitions in Asian Pay Television Trust : S7OU 0%, Cosmosteel Holdings : B9S 0%, Ho Bee Land : H13 -0.56%, Mapletree Industrial Trust, Megachem : 5DS +1.18%, Niks Professional : NPL 0%, Riverstone Holdings : AP4 -2.84%, Sinostar Pec Holdings : C9Q -1.41% and Wing Tai Holdings : W05 +0.81%.