Category: 3. Business

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• Significant insider control over Oxley Holdings implies vested interests in company growth

• The top 2 shareholders own 73% of the company

• Ownership research, combined with past performance data can help provide a good understanding of opportunities in a stock

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Every investor in Oxley Holdings Limited (SGX:5UX) should be aware of the most powerful shareholder groups. We can see that individual insiders own the lion’s share in the company with 85% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).

So it follows, every decision made by insiders of Oxley Holdings regarding the company’s future would be crucial to them.

Let’s delve deeper into each type of owner of Oxley Holdings, beginning with the chart below.

See our latest analysis for Oxley Holdings

Small companies that are not very actively traded often lack institutional investors, but it’s less common to see large companies without them.

There are many reasons why a company might not have any institutions on the share registry. It may be hard for institutions to buy large amounts of shares, if liquidity (the amount of shares traded each day) is low. If the company has not needed to raise capital, institutions might lack the opportunity to build a position. Alternatively, there might be something about the company that has kept institutional investors away. Oxley Holdings might not have the sort of past performance institutions are looking for, or perhaps they simply have not studied the business closely.

Oxley Holdings is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is the CEO Chiat Kwong Ching with 44% of shares outstanding. See Ching Low is the second largest shareholder owning 29% of common stock, and Wee Sien Tee holds about 11% of the company stock. Interestingly, the second-largest shareholder, See Ching Low is also Top Key Executive, again, pointing towards strong insider ownership amongst the company’s top shareholders.

After doing some more digging, we found that the top 2 shareholders collectively control more than half of the company’s shares, implying that they have considerable power to influence the company’s decisions.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock’s expected performance. We’re not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held.

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Our information suggests that insiders own more than half of Oxley Holdings Limited. This gives them effective control of the company. So they have a S$356m stake in this S$418m business. Most would argue this is a positive, showing strong alignment with shareholders. You can click here to see if those insiders have been buying or selling.

With a 14% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Oxley Holdings. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

It’s always worth thinking about the different groups who own shares in a company. But to understand Oxley Holdings better, we need to consider many other factors. Be aware that Oxley Holdings is showing 1 warning sign in our investment analysis , you should know about…

If you would prefer check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, backed by strong financial data.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

A new report from the financial publication Hunterbrook alleges Phil Mickelson received inside information on an investment in an offshore oil company and distributed that information to a private group of company shareholders.

On Friday, Hunterbrook released a story that included a series of private messages shared by Mickelson with a group of investors for the Houston-based oil startup Sable Offshore. In the messages, Mickelson appears to share material non-public information gleaned from interactions with Sable Offshore CEO Jim Flores – a decision that could have legal ramifications for Mickelson, the company’s chief executive, or both.

The three-bylined story centers on the latest actions of the embattled oil company Sable Offshore, which paid $988 million to assume control of a troubled oil field from Exxon off the coast of Santa Barbara, Calif., and quickly attracted investors seeking a potential moonshot.

From the beginning, the Sable business was predicated on a calculated gamble: If Flores could restart production from the Santa Ynez offshore oil infrastructure – a collection of three offshore platforms, a processing facility and a pipeline system that were shuttered after an environmental disaster in 2015 – the near-billion-dollar investment would look like a steal.

But the 20 months since the company’s creation have been far rockier than investors hoped. Sable Offshore’s efforts to protect against future environmental disasters have hit a series of regulatory snags in the last year and a half. To date, the company has failed to restart production on the oil infrastructure, causing Sable Offshore’s stock price to tumble more than 53 percent over the last 12 months.

Mickelson’s involvement in the company has been highly publicized. The LIV Golf star has tweeted more than 100 times about Sable Offshore over the 20 months, many of them aimed at California legislators and regulators involved in keeping oil production shuttered.

Mickelson’s own past with insider trading is well-documented. In 2016, he paid more than $1 million to the Securities and Exchange Commission to settle allegations that he had traded on inside information gleaned from the legendary gambler Billy Walters.

News

The Hunterbrook story alleges Mickelson was more than just a disgruntled investor, revealing the contents of an X group (previously Twitter) that appears to show the six-time major champ sharing information taken from Flores before it was made public.

“I spoke to Jim this morning. An announcement is coming today after market closes. It could be an 8K or press release,” Mickelson wrote to a group of Sable investors on X on Sept. 29, hours before an announcement from the company indicating it had submitted paperwork to the state of California seeking permission to restart oil production. This was one of a handful of examples of non-public material information discovered in Hunterbrook‘s reporting.

The Hunterbook story also appeared to show Mickelson involved in a coordinated effort to drum up federal support for the Sable Offshore project, a “prayer” that could reverse stalled oil production and rebound some of Sable’s sunken stock price. A leaked phone call quoted in the Hunterbrook story appears to show Sable Offshore CEO Jim Flores discussing a “west coast game” between “a certain left-handed golfer” and current U.S. Commerce Secretary Howard Lutnick. (Lutnick refuted that he had plans to play with Mickelson, and said he’d never heard of Sable Offshore.)

The legal implications of Mickelson’s involvement in the story remain uncertain. U.S. insider trading law stipulates that the transfer of material non-public information is not itself illegal, so long as the information is not traded upon. On Friday afternoon, Mickelson replied to several tweets about the story with a similar defense, arguing that he did not trade on the information he received, and that his actions in the story did not “insinuate wrongdoing.”

If Mickelson’s X counterparts traded on material non-public information gleaned from him, Mickelson could still be found legally liable under U.S. insider trading laws surrounding “tipping” – though authorities would have to prove he benefited in some way from those trades.

“So a company says I can’t say anything to you but we will announce something at the close,” Mickelson said, in one X reply. “I don’t know if it’s a dilution and the stock goes down or a deal for the stock to go up. I have to wait to see what the info is [sic], I make no trades whatsoever and am ultra ultra careful given past history. I don’t even share that information is coming til after the close.”

Mickelson also included an accusation of his own aimed at Hunterbrook, a financial journalism outfit whose unusual business orientation allows it to trade on information gleaned by its reporters, so long as it is not material non-public information. Hunterbrook disclosed on social media that it had not made any trades based on the findings of the Sable Offshore story.

“This looks like stock manipulation on your part and slanderous,” Mickelson wrote. “Did you make any trades today?”

The story, which also suggested that Sable Offshore would soon have to raise $200 million in dilutive equity, sent stock prices plunging on Friday afternoon. At closing time, Sable Offshore was selling for $10.47 per share, down 18.47 percent from the day’s start.

The post Report alleges Phil Mickelson received inside information on offshore company appeared first on Golf.

With Vietnam setting ambitious goals to achieve net-zero emissions by 2050, the Binh Dai offshore wind power project, constructed by Power Construction Corporation of China (PowerChina), stands as a model of sustainable energy.

VINH LONG, Vietnam, Nov. 1 (Xinhua) — In Binh Dai commune of southern Vietnam’s Vinh Long province, towering wind turbines rise from the blue waters of the Mekong Delta region, symbolizing the country’s growing shift toward renewable energy.

The offshore wind power project in Binh Dai is constructed by Power Construction Corporation of China (PowerChina).

“This is China’s first offshore wind power project abroad, and it represents multiple ‘zero breakthroughs’ from zero experience to successful construction and operation,” said Du Haiyang, vice president of PowerChina in Asia-Pacific region.

“It has not only expanded the overseas presence of Chinese renewable energy enterprises but also contributed to Vietnam’s local economy and green transformation,” Du told Xinhua.

With Vietnam setting ambitious goals to achieve net-zero emissions by 2050, the Binh Dai offshore wind power project stands as a model of sustainable energy.

“Each year, the project saves about 38,600 tons of standard coal and reduces carbon dioxide emissions by about 26,200 tons,” said Pei Guoxiang, site manager of the Binh Dai offshore wind power project.

Beyond positive effects from green energy, the project also paves the way for local workers to learn more about cutting-edge technologies.

Among the Vietnamese engineers working on the project, Phan Van Nghia, who serves as the manager of the Quality Assurance and Quality Control Department at Binh Dai offshore wind power project, said the cooperation has brought tangible benefits to local workers.

“Working in the Chinese environment allows not only me but also young Vietnamese engineers to learn a lot, especially about renewable energy, particularly wind power projects that use new technologies,” Nghia said.

According to Nghia, the project’s long-term impact extends beyond power generation.

By the experiences from working with Chinese colleges, “we hope to master the technology and be able to independently operate complex wind power equipment,” he said.■

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