William Liem, the CEO of Tuan Sing Holdings, has once again increased his stake in the company. Using an entity called Nuri Holdings (S), Liem purchased 545,300 shares from the open market on December 5 for a total of $136,325.00, or 25 cents per share. This was followed by another 1.2 million shares bought the next day for $311,288.50, at an average of 25.9 cents per share. These purchases have brought Nuri Holdings’ stake in Tuan Sing to approximately 672.7 million shares, accounting for 54.09% of the company.
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In addition to these recent transactions, Nuri Holdings had also purchased shares on September 10 and 11, with Liem paying an average price of 25 to 25.5 cents per share. As of June 30, the net asset value of the company was recorded at 97.8 cents per share, slightly lower than the value of 99 cents on December 31, 2023.
In other news, Tuan Sing has announced its acquisition of several assets from PT Senimba Bay Resort in Batam for $28 million. This was followed by the company’s report of a 5% increase in earnings to $4.8 million for the fiscal year of 2023. With Tuan Sing’s continuous growth and investments, the company’s future looks bright for both the CEO and shareholders alike.