Weighed down by sales in China
Neo Cheow Hui, CEO of logistics and building materials company GKE Corp (SGX:595
) , last week raised his stake in the company. On June 6, Neo acquired 300,000 shares on the open market for 7 cents each. This gives him a total interest of 28.75 million shares, equivalent to 3.7% of the company, up from 3.67%. As at Nov 30, the company’s net asset value was 11.6 cents per share.
GKE Corp’s two main businesses have seen uneven performance in recent years. On the one hand, its warehousing space here in Singapore is enjoying strong demand as customers stock up to ward off supply chain disruptions. On the other hand, its ready-mixed concrete plants, based in China, suffered from lower demand amid the pandemic.
