INTER-ROLLER Engineering’s non-executive chairman, Mr Lim Yong Wah, has raised his stake in the mainboard-listed airport logistics firm in recent weeks, despite its share price dip.

Singapore Exchange filings showed that he bought 150,000 shares on the open market at an average cost of 57.76 cents each on Monday. Last Friday, he increased his deemed interest by 100,000 shares, after his wife, Ms Dorcas Lee, acquired those shares at 58 cents apiece.

His deemed stake was also raised following his wife’s purchase of 180,000 shares at an average price of 66.47 cents on Nov 16. His direct stake now stands at 5.53 million shares, or about 1.66 per cent of the company’s issued share capital, up from 5.38 million previously.

Mr Lim’s deemed stake now comprises 4.08 million shares. Inter-Roller’s third-quarter results, which were released early last month, were below analyst expectations due to rising costs.

Its earnings dipped 78 per cent year-on-year to $1.8 million, as revenue dropped by 39 per cent to $27.3 million.

In September, the firm announced that it had clinched a $58 million contract to design, supply and install a baggage-handling system at Qatar’s New Doha International Airport. That deal brought the value of its new orders this year to $126.7 million.

Inter-Roller shares have slumped recently, falling from a peak of $1.34 in July to 56 cents at last Friday’s close.

Yesterday, they finished flat at 58 cents with 675,000 units traded.

《The Straits Times》