350 2chen qiuhaiCEO Chen Qiuhai bought $7.46 million worth of shares in Yamada this month. NextInsight file photo.This month (Sept 2015), Chen Qiuhai (photo), the chairman and CEO of Yamada Green Resources, boosted his stake in the company. He: 

* Subscribed for 97,968,359 rights shares @ 7 cents each. That cost him S$6,857,785.

The exercise price of 7 cents is the equivalent of 2.0 PE.

* Bought 7,150,000 shares in the open market at an average of 8.38 cents a share. That cost him S$599,320.

As a result, Mr Chen owns 301,055,077 shares of Yamada Green Resources now, or a 37.12% stake, as of 22 Sept 2015.


A new substantial shareholder of Yamada Green Resources has emerged -- Gilbert Ee (photo).

Following the rights issue of Yamada, Mr Ee raised his stake from 5,907,100 shares (1.1% stake in the company) to 65,938,500 shares (8.18% stake).

Mr Ee is the CEO of GSH Corporation, whose executive chairman is Sam Goi.  

The latter is a substantial shareholder of Yamada too with a deemed interest of 7.8%, arising from his 90% interest in Hydrex which dierctly owns the 7.8% stake. (The other 10% of Hydrex is owned by Koh Boon Hwee).

In FY2015 (ended June 2015), Yamada earned RMB503.9 m in revenue. The contributors were:

* Sale of self-cultivated shiitake mushrooms: RMB240.9 million
* Sale of moso bamboo trees and bamboo shoots: RMB74.4 million
* Sale of processed food products: RMB188.6 million

Overall gross profit margin: 24.3% 
Net profit: RMB86.2 million (down 15.9% y-o-y).

See Yamada's press release here.

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#1 yada 2015-09-23 16:55
First time in a long time, we see a S-chip CEO really spending money to buy his stock! There is a sexy story that will unfold for shareholders?

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