On Jan 17, Low Kheng, the spouse of AnnAik : A52 0% executive chairman cum CEO, Ow Chin Seng, purchased 1,435,000 shares of the company for a consideration of S$100,450.

 

At S$0.07 per share, the married deal increased Ow&rsquo s total interest in the manufacturer and distributor of stainless-steel products from 38.79 per cent to 39.78 per cent.

 

Ow is primarily responsible for the business and strategic development of the group.

 

With over 40 years of experience in the hardware and steel industry, he has been instrumental in the strategic direction and development of the group.

 

AnnAik executive director cum chief operating officer Ng Kim Keang also acquired 1,462,500 shares at S$0.07 per share on Jan 17.

 

With a consideration of S$102,375 this increased his direct interest in the company from 2.87 per cent to 3.38 per cent.

 

Ng joined the company in January 2003 as financial controller and was promoted to executive director in January 2005 and chief operating officer in March 2015.

 

He is currently responsible for managing the overall operations and the finance and accounting matters of the group.

 

These were the first director acquisitions filed for the company since it reported its H1FY22 (ended Jun 30) financials on Aug 10, when AnnAik reported attributable profit of S$2.86 million, compared to S$1.23 million in H1FY21.

 

This was attributed to the higher turnover and gross profit achieved in both the distribution and manufacturing of steel flanges divisions fuelled by a hike in steel prices and strong demand.

 

In addition, the contribution of profit from its environmental division also contributed positively to the overall performance.

 

This followed on from the group achieving an attributable profit in FY21 of S$3.09 million, compared to S$177,000 in FY20.

 

Between May 24 and 25, Low Kheng, spouse of AnnAik : A52 +2.27% executive chairman cum CEO, Ow Chin Seng, purchased 1,794,900 shares of the company for a consideration of $155,292.

 

At an average price of 8.7 cents per share, this increased Ow&rsquo s total interest in the manufacturer and distributor of stainless-steel products from 38.34 per cent to 38.96 per cent.

 

Ow is primarily responsible for the business and strategic development of the group. With over 40 years of experience in the hardware and steel industry, he has been instrumental in the strategic direction and development of the group.

 

With last year&rsquo s hike in steel prices, strong demand of steel products and contribution of the environmental division, AnnAik achieved an attributable profit in 2021 of S$3.09 million, compared to S$177,000 in 2020.

 

On Nov 26, AnnAik $ AnnAik: A52 -2.6% executive director and COO Ng Kim Keang acquired 609,400 shares of the manufacturer and distributor of stainless steel products for a consideration of S$46,065. At 7.6 cents per share, this took his direct interest in AnnAik from 2.44 per cent to 2.65 per cent.

 

Ng joined the company in January 2003 as financial controller, then was promoted to executive director in January 2005 and chief operating officer in March 2015. Currently, he is responsible for managing the overall operations and the finance and accounting matters of the group.

 

Between Oct 4 and 5, AnnAik $ AnnAik: A52 +3.85% executive director and COO Ng Kim Keang acquired 355,000 shares of the manufacturer and distributor of stainless steel products for a consideration of S$25,050.

 

At 7.1 cents per share, this took his direct interest in AnnAik from 2.14 per cent to 2.28 per cent.

 

Ng' s preceding acquisitions were in November 2019, with 1.54 million shares acquired at 6.0 cents per share.

 

He joined the company in January 2003 as financial controller, then was promoted to executive director in January 2005 and chief operating officer in March 2015.

 

Currently, he is responsible for managing the overall operations and the finance and accounting matters of the group.

 

Between Oct 5 and 6, AnnAik executive director and sales director Benedict Ow Eei Phurn acquired 655,000 shares for a consideration of S$49,882.

 

At 7.6 cents per share, this increased his total interest in AnnAik from 0.17 per cent to 0.40 per cent.

 

Ow' s current role is to assist in the overall distribution business of the group and manage its supply chain operations

 

On Aug 13, AnnAik announced that its H1 FY21 (ended Jun 30) profit attributable to owners of the company was S$1.23 million, compared to a loss of S$0.18 million recorded in the prior year.

 

The significant improvement in results was mainly due to the higher demand for steel products and increase in steel prices, lifting the revenue and gross profit of both the distribution and manufacturing of steel flanges divisions.

 

Within the environmental division, the increased engineering procurement and construction project deployment in hazardous wastewater treatments also contributed positively to AnnAik' s overall performance in H1 FY21.