Between Sept 8 and 9, executive director Tang Cheuk Chee acquired 818,200 shares of the listed company for a consideration of S$192,277.

 

At 23.50 cents per share, this increased her total interest in Hanwell Holdings from 17.88 per cent to 18.02 per cent.

 

Dr Tang has a wealth of management experience and is well versed in marketing, business development and investments in property and securities.

 

She is also an executive director of Tat Seng Packaging Group and is the spouse of Allan Yap, the executive chairman of the company.

 

In its H1FY20 (ended June 30) financial reports, Hanwell Holdings noted that its consumer business experienced a growth of 1.6 per cent in revenue against the same period last year, mainly contributed by good performance for rice, cooking oil and tofu.

 

On impacts from Covid-19, the management noted that the packaging business sector expects both Singapore' s and China' s operating environment to remain challenging in the near-term, given economic weakness and softening demand.

 

The company added a cautious outlook on the impact of Covid-19 on customers' businesses that depend on exporting, as the global markets are greatly affected.

 

Hanwell Holding' s management will also continue to enhance the packaging business sector' s business performance by executing the improvement strategies in terms of cost management, enhancing operational efficiency and boosting productivity.