Over the five sessions through to the 14 May close, 16 primary-listed companies conducted buybacks with a total consideration of S$42 million.At the same time, more than 120 director interests and substantial shareholdings were filed for more than 50 primary-listed stocks. Directors or CEOs reported 18 acquisitions and 14 disposals, while substantial shareholders recorded 15 acquisitions and seven disposals. This included CEO or director acquisitions filed for A‑Sonic Aerospace, Dezign Format Group, Far East Orchard, Huationg Global, Khong Guan, Leong Guan Holdings, Lincotrade &amp; Associates Holdings, Nera Telecommunications, TrickleStar, Uni‑Asia Group, Vin’s Holdings and XMH Holdings. Aspial Lifestyle: Equity Fund Raising to Accelerate Lending-Led GrowthOn 14 May, Aspial Lifestyle announced the launch of an equity fundraising to raise S$84.8 million via a private placement and a preferential offering, both priced at S$0.402 per share. The fund raising follows a 1QFY26 business update, where revenue increased 48 per cent and profit before tax soared 140 per cent from 1QFY25, supported by sustained demand across its portfolio and continued growth from its Malaysia operations. Proceeds will be directed toward business expansion, investments and scaling of its pawnbroking and secured lending businesses, alongside working capital and debt repayment, while also increasing free float and supporting trading liquidity.The fund-raising builds on a strong base. In FY25, revenue increased 41.3 per cent to S$830.1 million while profit before tax more than doubled to S$102.5 million. The focus remains on pawnbroking and secured lending, which generate collateral-backed income and have shown steady growth across Singapore and Malaysia, alongside expansion of its BigFundr platform. The additional capital strengthens the group’s balance sheet and supports the execution of its growth initiatives across these segments. Salt Investments: S$4.8 million Placement Supports Platform ExpansionOn 10 May, Salt Investments completed a private placement of 1,748,233,722 new shares at S$0.00275 per share, raising gross proceeds of approximately S$4.8 million, with net proceeds of about S$4.6 million after expenses. The placement was executed at an 8.33 per cent discount to the last traded VWAP of S$0.003 and represented 7.2 per cent of existing share capital. Evolve Capital Advisory acted as placement agent, with Maybank Securities as sub-placement agent. The placement drew participation from institutional investors including Ginko-AGT Global Growth Fund, Lion Global Investors and Value Partners Hong Kong, alongside corporates and high-net-worth investors. Proceeds will fund capital expenditure and expansion across fuel bunkering, oil waste recycling, and marine lubricants, while broadening the shareholder base and supporting trading liquidity as the group scales its integrated marine platform.The group is building an integrated marine and offshore platform anchored across fuel supply, marine engineering, and waste management services. Its core operating businesses include Prosper Excel Engineering, which provides marine engineering and bunkering support, and TT Oil, which supplies marine fuels and lubricants, strengthening vertical integration across the fuel value chain. In parallel, its collaboration with Mencast Holdings extends capabilities into oily waste collection, treatment, and recycling, completing the value chain from logistics through to resource recovery. Collectively, these segments position the group to capture recurring service flows within the maritime ecosystem, with increasing control over key operating touchpoints supporting scale, execution visibility, and earnings resilience over time. Salt is expected to report it FY26 results at the end of May.  Recent Accumulation Extends Institutional Positioning in PC Partner GroupOn May 7 LC Capital Management Pte Ltd increased its deemed stake in PC Partner Group above the 7.0 per cent threshold to 7.18 per cent following the acquisition of 800,000 shares via market transactions. This builds on earlier transactions in April, where the fund manager took its interest above the 5.0 per cent substantial shareholder threshold on April 1, and above the 6.0 per cent threshold on April 20.This accumulation comes alongside a strengthening operating backdrop. The FY25 performance reflects strong demand for newly launched high-end NVIDIA GeForce RTX 50 Series graphics cards, which remained the key driver of both revenue and profit contribution. The improved product mix, particularly in higher-end GPUs, supported margin expansion, alongside the restoration of access to flagship NVIDIA GPUs following listing and operational alignment.The Group has also articulated a clear positioning within the artificial intelligence value chain. As an NVIDIA Partner Network integration partner, PC Partner is building out capabilities in AI servers, supported by ongoing investment in AI talent, product development and operational infrastructure. This reinforces artificial intelligence as a long-term growth driver.Balance sheet strength further supports strategic flexibility. Cash and bank balances stood at approximately HKD 2.5 billion at end-FY25 also reflect disciplined capital management and providing capacity to support growth initiatives across new product cycles and AI-related opportunities.  Asia Vets – Controlling Shareholder Stake Transfer On 7 May, Asia Vets saw a full transfer of control as Executive Chairman and CEO Tan Tong Guan and Tan Gee Beng Private Limited sold their combined 28.55 per cent stake to Pan Wei in a negotiated transaction, making Pan Wei the new controlling shareholder. The stake was transferred in full through share sale and purchase agreements between the parties and completed on the same day.This follows a period in which the group has faced a more challenging operating environment, including intensified competition, higher labour costs and increased rental expenses, alongside a goodwill impairment recognised in FY25 reflecting a reassessment of business value.Looking ahead, the Group’s focus is on gradually rebuilding revenue through client base expansion, following the stabilisation of clinic operations after recent relocations. Management intends to place greater emphasis on attracting new clients while strengthening engagement with existing customers across its clinics.The Group also maintains it well continue to differentiate through its clinical capabilities and service standards, including maintaining consistent care quality to support client trust and repeat visitation. It also remains open to acquisition and collaboration opportunities in Singapore and overseas to expand its business scope and customer base. ThumbDrive Legacy and Fresh Institutional InterestTrek 2000 is best known as the inventor of the ThumbDrive, the pioneering USB flash storage device that helped define portable digital storage and underpin its early global profile. The group has since evolved into an IP-led, asset-light model spanning secure storage, wireless memory and Artificial Intelligence of Things (AIoT) solutions, with its value proposition anchored by a global patent portfolio and a strong balance sheet.On 11 May, Azure Prime Fund VCC – Azure Singapore Equity Fund emerged as a substantial shareholder with a 7.3 per cent deemed interest, comprising 22,074,000 shares under a share purchase agreement, with completion pending. As a Singapore-based investment vehicle targeting small- and mid-cap opportunities, Azure’s entry points to selective institutional positioning in a deep value counter where liquidity, balance sheet strength and potential corporate developments may support re-rating catalysts.Trek’s improved profitability was most evident in its FY25 performance. The group reported net profit of US$4.6 million, a significant improvement from US$0.3 million in the preceding year, despite revenue easing 1.1 per cent year-on-year to US$19.6 million. The uplift was driven less by top-line growth and more by disciplined execution, including tighter project selection, improved margins and a more prudent cost base. Earnings were also supported by a US$6.1 million gain from the disposal of an investment. The recovery builds on an earlier inflection in FY23, when the group returned to profitability with a net profit of US$2.7 million, reversing a net loss of US$13.3 million in FY22. This progression from stabilisation to improved execution signals a more disciplined operating profile, with a strong balance sheet supported by a high level of liquid assets and no borrowings, and the AIoT segment continuing to underpin the bulk of revenue.From a value perspective, capital recycling represents a clear value unlock, with the disposal of the investment. Beyond this, the group’s AIoT platform, which accounts for most of the revenue, reflects an ongoing pathway for value creation as it extends into higher-value applications. The expansion into renewable energy-related solutions introduces additional optionality, albeit at an early stage.  <table><tbody><tr><td>Share Buybacks by Primary-listed Companies by way of Market Acquisition (May 8 to May 14) </td><td>Number of Shares/Units Purchased </td><td>Buyback Consideration (incl stamp duties &amp; clearing charges) S$   </td><td>Avg price paid per share S$</td></tr><tr><td>KEPPEL </td><td>1,900,000</td><td>20,685,109</td><td>10.89</td></tr><tr><td>UNITED OVERSEAS BANK </td><td>375,200</td><td>13,895,830</td><td>37.04</td></tr><tr><td>GENTING SINGAPORE </td><td>6,700,000</td><td>4,190,327</td><td>0.63</td></tr><tr><td>SEATRIUM </td><td>830,000</td><td>1,940,343</td><td>2.34</td></tr><tr><td>COMFORTDELGRO CORPORATION </td><td>438,000</td><td>587,688</td><td>1.34</td></tr><tr><td>HOTUNG INVESTMENT HLDGS LTD</td><td>195,000</td><td>327,988</td><td>1.68</td></tr><tr><td>HONG FOK CORPORATION </td><td>280,000</td><td>284,151</td><td>1.01</td></tr><tr><td>FRASER AND NEAVE </td><td>83,200</td><td>121,561</td><td>1.46</td></tr><tr><td>UNION GAS HOLDINGS </td><td>153,200</td><td>72,153</td><td>0.47</td></tr><tr><td>OXLEY HOLDINGS </td><td>805,000</td><td>65,956</td><td>0.08</td></tr><tr><td>BAKER TECHNOLOGY </td><td>121,900</td><td>60,483</td><td>0.50</td></tr><tr><td>ASPIAL CORPORATION </td><td>400,000</td><td>59,454</td><td>0.15</td></tr><tr><td>GHY CULTURE &amp; MEDIA HOLDING CO </td><td>382,900</td><td>42,110</td><td>0.11</td></tr><tr><td>INTRACO </td><td>33,000</td><td>12,559</td><td>0.38</td></tr><tr><td>A-SONIC AEROSPACE </td><td>10,000</td><td>5,720</td><td>0.57</td></tr><tr><td>SARINE TECHNOLOGIES </td><td>20,000</td><td>4,050</td><td>0.20</td></tr><tr><td>Total</td><td>12,727,400</td><td>42,355,484</td><td> </td></tr></tbody></table> Inside Insights is a weekly column on The Business Times, read the original version.Enjoying this read?<ul><li>Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.</li></ul>

Over five sessions until May 14, 16 primary-listed companies conducted buybacks totaling S$42 million. More than 120 director interests were filed, with 18 acquisitions and 14 disposals reported. Aspial Lifestyle announced an equity fundraising of S$84.8 million for business expansion, while Salt Investments raised S$4.8 million through a private placement for platform expansion. LC Capital Management increased its stake in PC Partner Group to 7.18%, driven by strong demand for NVIDIA graphics cards and AI capabilities.

Aspial Lifestyle

PC Partner

Salt Investments

YieldMax NVDA Option Income Strategy ETF

VanEck Semiconductor ETF

iShares Semiconductor ETF

GraniteShares 2x Long NVDA Daily ETF

Direxion Daily NVDA Bull 2X Shares

T-Rex 2X Long NVIDIA Daily Target ETF

NVIDIA

Buybacks, Insider Activity and Capital Moves