It has been the longest time since we seen a “real” insider purchase from Hanwell - Mdm Tang Cheuk Chee bought 818,200 @ SGD 0.235 and share price had increased to SGD 0.28. Volume is around 8m shares. We think this is a significant move by a key management but we are sticking to the plan to sell into strength.
We had been selling since the share hit SGD 0.265 and up to SGD 0.285 and had managed to halved our position. Meanwhile, we will await a good dividend at the end of the financial year and possibly another bounce in the share price.