Sing Holdings

Sing Holdings: NextInsight note that insiders have accumulated shares of the co after it announced an 87% jump in net profit to $41.1m for FY12. Recall that the boutique property developer had also proposed a final dividend of 1.6c a share, up by 60% yoy. FH Lee Holdings bought 500,000 shares of Sing Holdings at 44.5c on 15 Feb, raising its interest to 138,441,746 shares, or 34.52% stake in the ppty developer. Earlier, on 14 Feb, FH Lee Holdings bought 1,201,000 shares at 44.48c a share. The CEO of Sing Holdings, Lee Sze Hao, has a deemed interest in the shares held by FH Lee Holdings, which is a family investment vehicle. On 18 Feb, Mr Lee bought 122,000 shares for his own account at 43.5c a share. These purchase prices are sharply higher than the 30.5c that FH Lee last paid in Jun12 when it bought 250,000 shares. Likely, the most recent purchase prices are the highest that FH Lee Holdings and Mr Lee have paid for in many yrs, as the stock has not traded as high as in recent wks. That sends a pretty bullish signal about the prospects of the co.