On Oct 11, Noel Gifts : 543 0% International managing director Alfred Wong Siu Hong acquired 62,100 shares at an average price of S$0.37 per share. The consideration of S$22,667 increased his total interest from 47.15 per cent to 47.21 per cent.

 

This followed his acquisition of 153,500 shares between Oct 7 and Oct 10 128,800 shares at on Sep 24 163,500 shares on Sep 16 and 302,800 shares between Sep 4 and 5. Wong, the founder of Noel Gifts, has been its managing director since its inception.

 

Next year marks 50 years since the establishment of the Singapore hampers, flowers and gifts company. Wong oversees the group&rsquo s strategic planning, overall financial management and growth.

 

Since 1997, he has also led the property division, managing property investment and development.

 

Wong relayed recently that as the group enters a new chapter, it is focused on leveraging its strengths, adapting to market changes and seizing growth opportunities.

 

Noel Gifts implemented new marketing and sales strategies in the past 12 months to enhance customer engagement and loyalty, and to drive sales growth.

 

The group introduced a members&rsquo benefits programme on its website, partnering select merchants to offer exclusive savings, rewards and benefits to its online customers.

 

These privileges are designed to attract customers to join Noel Gifts&rsquo membership, creating mutual benefits in the current era of evolving customer sentiments and spending habits.

 

The group also introduced the birthday insider programme that lets customers record important birthdays.

 

One month before each birthday, customers receive an e-mail with gift suggestions, providing a helpful reminder and thoughtful gifting options.

 

This programme helps customers track upcoming birthdays through their profile page, ensuring that they never miss an opportunity to present a gift.

 

Wong Siu Hong Alfred, managing director and CEO of Noel Gifts International 543 , has acquired a total of 76,500 shares from the market as at Oct 10. 

 

The shares were acquired for $27,540 or 36 cents per share, bringing Wong&rsquo s total stake in Noel Gifts to 47.15%. 

 

Prior to this transaction, Wong also acquired 15,000 shares on Oct 8 at $5,400, or 36 cents per share. 

 

Wong holds a direct stake of 29.58% in Noel Gifts while he has a deemed interest of 17.57%. Wong has an indirect interest in a total of 18 million shares held by his wife Lim Julian, and his children, Wong Lai Kuan Kim and Wong Ho Hon Keith. Lim has 8 million shares while Kim and Keith each have 5 million shares in the company. 

On Sep 24, Noel Gifts International : 543 0% managing director Alfred Wong acquired 128,800 shares at an average price of S$0.36 a share. With a consideration of S$46,368, this increased his total interest in the hampers, flowers and gifts company from 46.88 per cent to 47 per cent.

 

This followed his acquisition of 163,500 shares at S$0.359 a share on Sep 16, and of 302,800 shares at S$0.356 a share between Sep 4 and 5.

 

Wong, the founder of Noel Gifts, has been its managing director since its inception.

 

Between Sep 4 and 5, Noel Gifts International : 543 0%managing director Alfred Wong Siu Hong acquired 302,800 shares at an average price of S$0.356 per share.

 

With a consideration of S$107,741, this acquisition increased his total interest in the hampers, flowers and gifts company from 46.42 per cent to 46.72 per cent.

 

His preceding acquisitions were between Mar 13 and 15, with 99,900 shares bought at S$0.258 per share, and on Dec 13, 2023, with 75,000 shares acquired at S$0.265 per share.

 

The group&rsquo s FY2024 (ended Jun 30) revenue decreased by 7.4 per cent from FY2023 to S$16.7 million, with a gross profit of S$8.2 million and an improved gross profit margin of 49.2 per cent.

 

After recognising a profit of S$14.2 million from the disposal of its investment property, the group reported a net profit of S$13.3 million for FY2024.

 

Wong Siu Hong Alfred, managing director and CEO of Noel Gifts International 543 , has acquired a total of 252,800 shares from the market as at Sept 4. 

 

The shares were acquired for $89,741.47 or 35.5 cents per share, bringing Wong&rsquo s total stake in Noel Gifts to 46.67%. 

 

On Sept 5, Wong made another purchase of 50,000 shares at $18,000, or 36 cents per share. 

 

Both transactions brought Wong&rsquo s percentage of shares in the company up to 46.72%. 

 

Wong has a direct stake of 29.15% in Noel Gifts while he has a deemed interest of 17.57%. Wong has an indirect interest in a total of 18 million shares held by his wife Lim Julian, daughter Wong Lai Kuan Kim and his son, Wong Ho Hon Keith. Lim has 8 million shares while Kim and Keith each have 5 million shares in the company. 

Noel Gifts International reported earnings of $13.3 million for the FY2024 ended June 30, 59.3 times higher than the earnings of $225,000 in the FY2023.

 

The surge was attributed to the disposal of its units at 50 Playfair Road. The disposal was completed on April 2, resulting in profit from discontinued operation, net of tax, of $14.2 million in the current financial year, up from $307,000 in the year before. The group netted proceeds of $30.8 million from the sale of the units and a gain on disposal of $16.1 million was recognised for the FY2024.

 

Revenue for the full year fell by 7.4% y-o-y to $16.7 million while gross profit fell by 4.1% y-o-y to $8.2 million. The group&rsquo s gross profit margin (GPM), however, improved to 49.2% from 47.5% last year.

 

In its financial results statement on Aug 28, Noel Gifts says the operating environment for its gifts business remains &ldquo challenging&rdquo on the back of declining demand and increasing costs. As such, the group is looking at and implementing various strategies to address these challenges.

 

In addition, it intends to explore opportunities within the property sector and other sectors to generate income streams.

 

A first and final dividend of 2.6 cents, as well as a special dividend of 9.4 cents per share was declared for the period. In comparison, the group declared a special dividend of 0.6 cents per share last year.

Between Mar 13 and 15, Noel Gifts International : 543 0% executive chairman and managing director Alfred Wong bought 99,900 shares at an average price of S$0.258 per share. With a consideration of S$25,725, this increased his total interest in the leading hampers, flowers and gifts company from 46.33 per cent to 46.42 per cent. His preceding acquisition was on Dec 13, 2023, with 75,000 shares acquired at S$0.265 per share.

MAINBOARD-LISTED Noel Gifts International : 543 0%reported a net loss of S$1.2 million for the first half ended Dec 31, 2023, as its losses widened 53.9 per cent year on year from S$0.6 million.

 

In a bourse filing on Monday (Feb 5), the gifts marketing and property investment company attributed its losses to lower sales from its gifts division in the period and &ldquo ever-changing consumer demand&rdquo .

 

It predicts &ldquo another year of challenging operating environment&rdquo for the division, and for its full-year performance to be negatively impacted as a result.

 

Revenue for the six months dropped 16.4 per cent to S$6.2 million, down from S$7.4 million in the previous corresponding period. Gross profit fell by 14.5 per cent to S$3.1 million, from S$3.6 million.

 

However, the company also said it expects FY2024 to be profitable as a result of the collective sale of units it owns at 50 Playfair Road.

 

A freehold property located in Tai Seng Industrial Estate, it was launched for collective sale in mid-October 2023 and was sold for S$81.2 million, around 16 per cent above its guide price of S$70 million.

 

For the 10 units it owns in the property, Noel Gifts expects to net S$30.6 million from the sale.

 

Assuming that the collective sale is completed by Jun 30, the proceeds will contribute positively to the company&rsquo s FY2024 financial results and position, Noel Gifts said in a separate filing in January.

But the company expects to report a loss for the first half of the financial year.

 

NOEL Gifts International has received the green light for the collective sale of its units at 50 Playfair Road, and expects the sale proceeds to benefit its financial results for FY2024 ending Jun 30.

 

As announced last year, Noel Gifts expects to book S$30.6 million from the sale of the 10 units it owns in the freehold industrial property.

 

The company has obtained unanimous consent from the development&rsquo s subsidiary proprietors for the sale, it said in a Wednesday (Jan 31) bourse filing. No further application to the Strata Titles Board or the High Court is required.

 

Assuming that the collective sale is completed by Jun 30, the proceeds will contribute positively to the company&rsquo s FY2024 financial results and position, Noel Gifts said.

 

However, in a separate filing on Wednesday, Noel Gifts said that it expects to report a loss for the half-year ended Dec 31, 2023. This is mainly due to a fall in revenue in its gifts division.

 

Raffles Medical Group has kept up the steady pace of share buybacks. The most recent acquisition was on Dec 11 when the company bought 200,000 shares at $1.07 each on the open market. This brings the total number of shares bought back under the current mandate to 5.4 million, equivalent to 0.2903% of the total share base.

 

The recent buybacks followed its 3QFY2023 ended September business update on Nov 6 when the company reported 67.4% lower y-o-y earnings of $12.4 million. Revenue in the same period was down 24.6% y-o-y to $161.6 million. This brings its 9MFY2023 earnings to $72.8 million, down 25.6% y-o-y, on the back of a 14.7% drop in revenue to $532.4 million.

 

Raffles Medical says the lower 3QFY2023 earnings were due to its exceptional performance in the year-earlier period when the group was providing pandemic-related services that have since been wound down. In addition, cost inflation had also chipped into its margins.

 

While the group is seeing more patients in China where it has a significant presence, the two hospitals there are still in the &ldquo developmental phase&rdquo and still incurring gestational costs. It is trying to see where it can rationalise its operations for better efficiencies.

 

Earlier this year, Raffles Medical announced plans to go into Vietnam by taking a controlling stake in a hospital there, in a bid to grow another key overseas market besides China.

 

In its 3Q business update, the company says it remains cautious about the &ldquo dynamic market development&rdquo in the markets where it operates and that the &ldquo uncertain global economic situation&rdquo combined with higher inflation and interest rates remain &ldquo a substantive concern&rdquo .

 

Raffles Medical expects to remain profitable in the current FY2023. &ldquo We are focused on growing in a value-accretive manner and improving the operational leverage of our existing businesses,&rdquo says executive chairman Dr Loo Choon Yong.

 

Collective sale gain

 

Alfred Wong Siu Hong, managing director of Noel Gifts International 543 0.00% , is actively adding to his stake with a series of acquisitions in the open market. The most recent was on Dec 8 when Wong acquired 80,000 shares at 26.5 cents each. This brings his direct interest to just over 29.39 million shares, equal to 28.68%.

 

Wong has a deemed interest in another 18 million shares held by his family, giving him a total interest of just over 47.39 million shares or 46.25%.

 

Noel Gifts stands to pocket a big one-off gain from proceeds from the collective sale of a property, 50 Playfair Road, which was first announced on Sept 25. The company now owns 10 units within the development.

 

News of the collective sale has sent Noel Gifts shares from a 52-week-low to a 52-week-high in just two months.

 

In an update announcement on Nov 24, Noel Gifts says that an unnamed &ldquo medium-sized developer&rdquo agreed to pay $81.18 million for the property. Noel Gifts&rsquo share of the proceeds is estimated to be $30.61 million.

 

On a pro forma basis, the sale would lift the company&rsquo s NTA per share as at June 30 from 30 cents to 46 cents. At the same time, earnings would also increase to $16.12 million from 0.22 cents per share.

 

Wong started his recent series of buying on Oct 5. Subsequent buying was done on Oct 9, Oct 17 and Dec 7, when he acquired 30,000 shares for $7,950 or 26.5 cents each.

 

On Aug 24, the company announced earnings of $871,000 for its 2HFY2023 ended June, 67.8% lower compared to 2HFY2022. Revenue in the same period was down 14% y-o-y to $10.9 million. This brings its FY2023 earnings to $225,000 versus $2.9 million in FY2022 while revenue was down 10.3% y-o-y to $18.5 million.

 

Noel Gifts attributes the lower earnings to a lower volume of gifts sold and higher costs due to supply chain issues. However, this was offset by higher rental income.

 

In its earnings commentary, the company cautions that the operating environment remains challenging amid falling demand and rising costs. &ldquo The group is adopting various new marketing and sales strategies to increase our sales,&rdquo says Noel Gifts. For FY2023, it has declared a special dividend of 0.6 cents. In contrast, the company paid a first and final dividend of 0.3 cents and a special dividend of 1.2 cents for FY2022.

Between Oct 5 and Oct 12, Noel Gifts International managing director Alfred Wong Siu Hong acquired 453,500 shares at an average price of S$0.211.

 

With a consideration of S$95,743 this increased his total interest in the leading hampers, flowers, and gifts company from 45.51 per cent to 45.96 per cent.

 

Wong is the founder of the group, serving as managing director since its commencement in 1975. Since 1997, he has been spearheading the property division, overseeing property investment and development.

 

Noel Gifts International&rsquo s FY23 (ended Jun 30) revenue of S$18.5 million represented a 10.3 per cent decrease from FY22.

 

This was due to the fall in gift sales, which was partially offset by the 13.4 per cent increase in rental from the property business.

 

For FY23, the group reported a gross profit of S$8.9 million, a decrease of 11.4 per cent from FY22, with its gross profit margin slipping from 48.7 per cent in FY22 to 48.1 per cent in FY23 due to higher costs in the supply chain.

 

Wong maintains that in response to the current operating environment, the group is adopting various new marketing and sales strategies to increase sales and will continue to actively manage costs and improve efficiency.

Noel Gifts International 543 0.00% has entered into a collective sale agreement in relation to a proposed collective sale of Noel Building at 50 Playfair Road.

 

The group owns 10 units in the building under its property investment business segment. The units are located on the third, fifth, sixth and seventh storeys.

 

In a Sept 25 filing on the Singapore Exchange S68 0.00% (SGX), Noel Gifts said that it intends to continue engaging in the properties segment business even upon the sale of the units. It will use the proceeds from the sale of the units for &ldquo future opportunistic acquisitions and investments&rdquo as well as to fund its general working capital requirements.

 

The company&rsquo s gifts segment will be wholly unaffected by the sale of the units.

 

For the FY2023 ended June 30, the net asset value (NAV) of the units are at 47% compared with the group&rsquo s overall NAV.

 

The net profits attributable to the assets disposed of compared to the group&rsquo s FY2023 net profits are at 159%. This is based on the group&rsquo s full-year net profit of $225,000, compared to the net profits attributable to the assets disposed of $358,000.

 

On Sept 1, Wong Koon Hong' s total interest in Noel Gifts International crossed above the substantial shareholder threshold, from 4.76 per cent to 5.14 per cent.

 

The 382,300 shares were acquired for a consideration of S$69,663 at 18.2 cents per share.

 

On Aug 27, Noel Gifts International reported FY20 (ended June 30) revenue of S$19.8 million, a decrease of 9.9 per cent, mainly attributable to lower gift revenue due to the impact of the Covid-19 pandemic.

 

The group noted with its FY20 results (ended June 30) that it would look into cost reduction measures, explore new business opportunities and upskill its staff.