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YHI DIRECTOR'S WIFE SNAPS UP COUNTER
YHI DIRECTOR'S WIFE SNAPS UP COUNTER

(2007-03-14)

WITH YHI International's shares enjoying a recent upturn after a long slump, managing director Richard Tay has been buying into them through his wife, Madam Lee Suat Kwan.

This is the first time that she has bought YHI shares in her own name. Last Wednesday, Madam Lee bought 200,000 shares at 36.5 cents each and on Thursday, she bought 100,000 shares at the same price. In all, she spent $109,500 and now owns 0.05 per cent of the company. Yesterday, YHI shares rose two cents to 39 cents.

With the purchases by Madam Lee, Mr Tay's direct stake stays at 2.0356 per cent, but his deemed stake rises to 58.4496 per cent.

Already Mr Tay had bought more than three million shares in January through a nominee account at prices ranging from 39 cents to 41 cents each. Last month, YHI announced that profit for the year ended Dec 31 rose 8 per cent to $27.5 million, as it enjoyed continued growth in its alloy wheel manufacturing business.

Turnover climbed 12 per cent to a record $375.2 million.

YHI designs and makes alloy wheels in China, Taiwan and Malaysia, as well as distributes automotive and industrial products such as Yokohama tyres, and Enkei and OZ rims.

Despite the good progress, YHI still faces competitive pressures. Starting off as an investors?favourite after it listed in 2003, its shares have languished over the past few months.

The counter has recovered slightly, but is still well below its one-year high of 53 cents, reached last April. LEE SU SHYAN

《The Straits Times》


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