Separately, Joseph Ong Yong Lok, Mooreast’s non-executive chairman, acquired 145,000 shares on the open market on Aug 15 at an average of 13.58 cents. The following day, Ong, a former managing director of Tan Chong International, again acquired 155,000 shares at 13.4 cents each. This brings his total stake to 300,000 shares or 0.12% of the company.
Both the chairman and CEO of Mooreast Holdings have increased their stake in the company after the specialist in mooring systems reported a y-o-y doubling of earnings for 1HFY2022 ended June.
On Aug 15, founder and CEO Sim Koon Lam acquired 150,900 shares on the open market at an average of 13.66 cents each. The following day, he acquired another 64,000 shares at 13 cents each. On Aug 30, Sim again acquired 108,000 shares an average of 13.1 cents each. This brings Sim’s direct stake to 322,900 shares. Together with his deemed stake of 190.6 million shares, this gives him a total stake of 190.96 million Mooreast shares, equivalent to 73.72%, up from 73.68%.
