The interesting signal here is the contrast between insider confidence and institutional caution.

Across five sessions, directors and CEOs reported 21 acquisitions against five disposals, while substantial shareholders recorded seven acquisitions and zero disposals. Meanwhile, institutions withdrew S$140.9 million.

Three names stand out. Aspial Lifestyle shows continued chairman accumulation. Frencken offers an interesting signal from its chairman amid potential industrial recovery. Mi Material is particularly compelling: nine-month revenue already exceeded FY2025 revenue, with significantly improved profit margins.

However, insider buying is a confidence indicator, not a guaranteed return signal. Some purchases remain relatively small compared with existing holdings.

My takeaway: follow insider activity, but let earnings growth, cash flow and valuation determine whether a stock deserves your money.

@SGX_Stars [龇牙]

Weekly | 5UF, MIM, F34, E28, CJLU, UGS, 1J5 & 533 Lead Stake Increases

@SGX_Stars:
Over the five sessions through to 5 November, close to 80 filings relating to directors’ interests and substantial shareholdings were filed for close to 40 primary-listed stocks. Directors or CEOs reported 21 acquisitions and five disposals, while substantial shareholders filed seven acquisitions and no disposals. More broadly, institutions were net sellers over the five sessions, recording net outflows of S$140.9 million. 1. $Aspial Lifestyle(5UF.SI)$ Aspial Lifestyle Chairman Adds Shares While Reducing Fixed-Income Holdings Between 30 October and 3 November, Koh Wee Seng, Chairman and Non-Executive Director of Aspial Lifestyle, acquired an aggregate 1.95 million shares on-market for S$562,800, at an average price of approximately S$0.289 per share. The purchases increased his direct interest to 10.63% from 10.53% previously, while his total interest increased to 76.30% from 76.20%. 2. $Mi Material(MIM.SI)$ Mi Material Chairman Increases Direct Interest Following Debut On 30 October and 4 November, Oh Kuang Eng, Non-Independent Non-Executive Chairman of Mi Material Holding and Chief Executive Officer and Executive Director of parent company Mi Technovation Berhad, acquired an aggregate 274,268 shares for S$420,780, at an average price of approximately S$1.53 per share. The first purchase came two days after Mi Material Holding commenced trading on the SGX Mainboard on 28 October at an offering price of S$1.80 per share. The acquisitions increased his direct interest to 1.69% from 1.63% previously, while his total interest increased to 74.77% from 74.71%. His deemed interest increased by 10,524 shares to 361,740,500 shares, with the percentage unchanged at 73.08%. The purchases followed Mi Material Holding’s 29 October business update, which reported 9MFY26 revenue of US$91.5 million, exceeding the US$65.3 million recorded for the whole of FY25. Adjusted profit after tax reached US$25.7 million, with the adjusted margin at 28.1% compared with 16.1% in FY25. 3. $Wilmar Intl(F34.SI)$ Wilmar Independent Director Increases Direct Interest On 4 November, George Yong-Boon Yeo, Non-Executive and Independent Director of Wilmar International, acquired 100,000 shares on-market for S$297,000, or S$2.97 per share. The purchase increased his direct interest to 1,006,500 shares, or 0.016%, from 906,500 shares, or 0.015% previously. 4. $Frencken(E28.SI)$ Frencken Chairman Further Increases Direct Interest On 26 October, Dato' Seri Gooi Soon Chai, Chairman and Non-Independent Non-Executive Director of Frencken Group, acquired 100,000 shares on-market for S$200,000, or S$2.00 per share. The purchase increased his direct interest to 1.76% from 1.74% previously, while his total interest increased to 21.55% from 21.53%. 5. $NetLink NBN Tr(CJLU.SI)$ NetLink NBN Trust Directors Add Units Following 1HFY27 Results On 30 October, Nagaraj Sivaram, Non-Executive and Independent Director of the Trustee-Manager of NetLink NBN Trust, acquired 99,000 units on-market for S$92,070, or S$0.93 per unit. The purchase increased Nagaraj Sivaram’s direct interest to 100,000 units, or 0.002%, from 1,000 units previously. Separately, on 3 November, Tong Yew Heng, Chief Executive Officer and Executive Director of the Trustee-Manager, acquired 100,000 units on-market for S$93,000, or S$0.93 per unit. The purchase increased Tong Yew Heng’s direct interest to 1.4 million units, or 0.036%, from 1.3 million units, or 0.033% previously. 6. $ULTRAGREEN AI SGD(UGS.SI)$ Ultragreen.ai CEO Increases Direct Interest On 4 November, Ravinder Sajwan, Chief Executive Officer and Executive Director of Ultragreen.ai, acquired 250,000 shares on-market for US$99,587, at an average price of approximately US$0.398 per share. The purchase increased his direct interest to 0.22% from 0.20% previously, while his total interest increased to 62.37% from 62.35%. 7. $Hyphens Pharma(1J5.SI)$ Hyphens Pharma Chairman and CEO Continues to Build Direct Interest Between 29 September and 29 October, Lim See Wah, Chairman, Executive Director and Chief Executive Officer of Hyphens Pharma International, acquired an aggregate 189,500 shares on-market for S$68,145, at an average price of approximately S$0.360 per share. The purchases increased his direct interest to 0.400% from 0.339%. His deemed shareholding remained unchanged at 147.66 million shares through wholly owned Inomed Holding. 8. $ABR(533.SI)$ ABR Holdings Managing Director Further Increases Stake On 5 and 29 October, Ang Yee Lim, Managing Director of ABR Holdings, acquired an aggregate 100,000 shares on-market for S$40,700, at an average price of S$0.407 per share. The purchases increased his direct interest to 54.244% from 54.195% previously.
Weekly | 5UF, MIM, F34, E28, CJLU, UGS, 1J5 & 533 Lead Stake Increases

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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