16 Dec 2023, Singapore – William Liem, the CEO of real estate giant Tuan Sing Holdings, has once again increased his stake in the company. Liem purchased a total of 1.7 million shares from the open market through his entity, Nuri Holdings (S), for a combined amount of $447,613.50.On 5 December, Liem acquired 545,300 shares at a price of 25 cents each, spending a total of $136,325.00. The very next day, he purchased another 1.2 million shares for $311,288.50, at an average cost of 25.9 cents per share. With these latest purchases, Nuri Holdings now holds a total of 672.7 million shares in Tuan Sing, equivalent to a 54.09% stake.In September earlier this year, Nuri Holdings had also bought shares in Tuan Sing on 10 and 11 September, at prices ranging from 25 cents to 25.5 cents per share. This continued support from the Liems signals their confidence in the company’s future growth potential.AdvertisementAdvertisementAs of June 30, Tuan Sing’s net asset value stood at 97.8 cents per share, a slight decrease from the previous financial year’s value of 99 cents. Nonetheless, the company has been making strategic moves to expand its portfolio and strengthen its position in the market.In November, Tuan Sing announced its acquisition of several assets from PT Senimba Bay Resort in Batam for $28 million. This move marks the company’s entrance into the hospitality sector, which will further diversify its revenue streams and provide long-term value for shareholders.Tuan Sing’s recent successes and expansion plans have been reflected in its financial performance as well. In its latest financial report, the company reported a 5% increase in earnings for the financial year 2023, reaching a total of $4.8 million. With its strong leadership and strategic investments, Tuan Sing is poised for continued growth and success in the years to come.
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