Directors’ Trades: Which Malaysian Rich Listers spent over $38 million on their own ASX stock?
Link copied to
The past fortnight has been quieter for ASX directors trades but two trades from Malaysian directors of United Overseas Australia (ASX:UOS) made up $38 million of the total.
United Overseas Australia is a Malaysian property group founded in 1987 and majority owned by Kong Choon Song and Kong Pak Lim.
According to Forbes, the pair are both in the top 50 richest people in Malaysia with the former at No 36 with US$455 million in wealth and the latter at 50 with US$315 million.
Both participated in a dividend reinvestment plan, which allows shareholders to buy more shares with their dividends. Kong Choon Song received $21.58 million in shares while Kong Pak Lim received $16.55 million.
Also participating was May Chee Kong who bought $1.87 million, while Teo Chee Seng only took $3,554 and Alan Winduss received $18,161.
|ZNO||Zoono||Paul Hyslop||Sell||3 June||7,000,000||$4,851,000||On market|
|WHC||Whitehaven Coal||George Zage III||Buy||4 June||350,000||$589,750||On market|
|CTE||Cryosite||Andrew Kroger||Buy||4 June||473,325||$170,209||On market|
|QGL||Quantum Graphite||Bruno Ruggiero||Buy||4 June||2,076,923||$135,000||Placement|
|UOS||United Overseas Australia||Kong Chong Soon||Buy||4 June||25,948,442||$21,584,127||Dividend Reinvestment Plan|
|UOS||United Overseas Australia||Kong Pak Lim||Buy||4 June||22,755,937||$16,554,942||Dividend Reinvestment Plan|
|UOS||United Overseas Australia||May Chee Kong||Buy||4 June||2,571,615||$1,870,848||Dividend Reinvestment Plan|
|NET||Netlinkz||James Tsiolis||Buy||9 June||23,143,659||$578,591||On market|
|TFL||TasFoods||Roger McBain||Sell||11 June||2,530,000||$341,550||Off market|
|MLG||MLG||Murray Leahy||Sell||8 June||2,000,000||$2,000,000||On market|
|AIR||Astivita||Lev Mizikovsky||Buy||10 June||4,219,620||$3,038,126||Rights Issue|
|ARC||Australian Rural Capital||James Jackson||Buy||15 Jun||510,000||$107,100||Rights Issue|
|BC8||Black Cat Syndicate||Paul Chapman||Buy||18 June||597,015||$400,000||Placement|
|BC8||Black Cat Syndicate||Philip Crutchfield||Buy||18 June||1,492,537||$1,000,000||Placement|
|IVT||Inventis||Anthony Mankarios||Buy||15 June||53,279,828||$479,518||Rights Issue|
|VRC||Volt Resources||Asimwe Kabunga||Buy||16 June||40,000,000||$600,000||Placement|
|VRX||Venturex Resources||Michael McMullen||Buy||17 June||5,762,712||$461,017||Placement|
|MGT||Magnetite Mines||Peter Schubert||Options||4 June||5,297,782||$264,889||Conversion|
Two other notable traders came from some of the few ASX companies still involved in graphite.
Although graphite is a battery metal and many other battery metals have gained the uptake in electric vehicles, many stocks suffered from the US-China trade war as well as Tanzania’s regulatory changes in 2018.
But there have been signs of life in the sector and in certain companies in recent weeks. One was Volt Resources (ASX:VRC) which is buying 70 per cent of a Ukraine-based graphite business which immediately took it to the production stage.
Asimwe Kabunga, who belongs to Volt, bought $600,000 in a placement.
Another is Quantum Graphite (ASX:QGL), which spent three years last decade in securities purgatory but has resumed exploration at its South Australian project.
Quantum chairman Bruno Ruggiero bought $135,000 in a placement.
Other buyers included Lev Mizikovsky of Astivita (ASX:AIR). His company manufactures a brand of zinc-based sunscreen and he chipped $3 million into his company’s rights issue.
Aspiring gold producer Black Cat Syndicate (ASX:BC8) saw two directors chip into its capital raising – Philip Crutchfield bought $1 million and Paul Chapman bought $400,000.
Coal miner Whitehaven (ASX:WHC) welcomed a $589,750 buy from hedge fund manager George Zage III.
Whitehaven has had a mixed run of late. Despite multiple production downgrades, the share price has held up thanks to the strong performance in coal prices in recent weeks.
And Michael McMullen from copper play Venturex (ASX:VXR) bought $461,017 in a placement.
One options trade was made by Magnetite Mines (ASX:MGT) executive chairman Peter Schubert who acquired nearly 5.3 million shares through a option conversion for a consideration of $264,889.