The S'porean chip tester has chalked up 31 rounds since the first win in 2015, today hived down to 1,200 shares at 90c, the highest since March 27th 2018, thus solidifying its hold on the 2nd biggest earner spot in my 32-year odyssey as a financial freedom trailblazer! Fellow SGX denizen Creative Technology bucks the tech weakness by rising further to its highest since 18th June 2025 & is a test case for whether I have learnt the lesson from selling too early around S$2 in early 2018 only to see it rocket to S$10 within days:

Today, I note that although Maybulk reported a quarterly loss of $53 mil, its net cash has actually increased +24% to $123.607 mil, theoretically enabling it to repurchase another 316.94 million shares at the current price, which is >3/4 of its estimated 416 million free float not held by the largest shareholder, PPB Group & the vestige of Pacific Carriers' holdings.The concentration of its equity in the hands of the Top 30 holders has dropped by 2.5766 mil shares but the % has risen by 2.99% to 66.77% thanks to the buyback of 44.3 mil shares by the company since the publication of the last annual report.
However, my wager is that the Palaniappan siblings at #4 & #5 [35 mil combined shares] will not let go of their shares at anything below 50c & neither will the Pahang government at #14 with 2.15385 mil shares almost since listing nor Nur Aliyah at #6 with 5.315 mil shares. I note also with interest that steel trader Pulau Angkasa Industries has emerged at #10 with 3.2402 mil shares while #11-#20 has not changed since the last report while Atlas Edible Ice(Kangar) has increased its holding by 125,000 shares & the list ends with listed Teo Guan Lee, a big earner for me in '21 on top of thousands in dividends from '14 till last year, holding 1.1208 million shares.
Ergo, de facto free float could actually be about 66 mil shares less, making the amount purchasable by the company's net cash about 90% of the actual shares purchasable from the open market. Additionally, an agreement to dispose of its Kapar land is likely to free up another $278 mil in cash, that, even assuming the net proceeds after costs is $200 mil, the liquidity freed up would be able to mop the balance 33 mil shares difference elucidate above & theoretically even buy back a further 479.82 mil shares from the Top 3 holders if needed! This is not even including the earning power of the sole remaining 8-year-old bulk carrier that is increasing with the panamax index at a 2-year high.