SCHEDULE 13D/A: Alset Inc. CEO Heng Fai Ambrose Chan Boosts Stake to 65.8% Through Share Acquisitions and Compensation Award

Alset Inc.'s Chairman and CEO, Heng Fai Ambrose Chan, has significantly increased his beneficial ownership in the company to 65.8% through recent open market purchases and a substantial restricted stock award.

Summary

• Heng Fai Ambrose Chan, Chairman and CEO of Alset Inc., and HFE Holdings Limited, have filed an Amendment No. 20 to Schedule 13D, disclosing their beneficial ownership in Alset Inc.
• Mr. Chan beneficially owns 7,718,742 shares of common stock, representing 65.8% of the outstanding shares. This includes 3,875,506 shares held by HFE Holdings Limited, over which Mr. Chan has sole voting and investment power.
• HFE Holdings Limited separately reports beneficial ownership of 3,875,506 shares, representing 33% of the outstanding shares.
• The percentage ownership is based on 11,735,119 shares of common stock outstanding as of April 17, 2025.
• Recent acquisitions by Mr. Chan include: 20,244 shares on February 12, 2025, at a weighted average price of $1.07 per share; 50,000 shares on February 13, 2025, at a weighted average price of $1.23 per share (ranging from $1.16 to $1.29); 50,000 shares on January 22, 2025, at a weighted average price of $0.85 per share; and 100,000 shares on January 27, 2025, at a weighted average price of $0.93 per share.
• Additionally, on April 15, 2025, Mr. Chan was awarded 1,000,000 restricted shares as compensation for services rendered, pursuant to the Company's 2025 Incentive Compensation Plan adopted on March 17, 2025.
• All acquisitions were stated to be for investment purposes only, with no present plans for corporate actions.

Sentiment

Score: 8

Explanation: The significant increase in beneficial ownership by the CEO, through both open market purchases and a substantial restricted stock award, indicates strong insider confidence and alignment of management interests with shareholders. This is generally a very positive signal for investors.

Positives

• Chairman and CEO Heng Fai Ambrose Chan has significantly increased his beneficial ownership in Alset Inc. to 65.8%, demonstrating strong insider confidence.
• Mr. Chan acquired shares through open market purchases at various price points, including recent acquisitions at $1.07 and $1.23 per share, indicating a belief in the company's value.
• The award of 1,000,000 restricted shares to the CEO aligns management's interests with long-term shareholder value.

Future Outlook

The reporting person states that all securities were acquired for investment purposes only and that there are no present plans or proposals that would result in any significant corporate actions, though positions may be reviewed or reconsidered in the future.

Management Comments

• "All of the Issuer's securities owned by the Reporting Person have been acquired for investment purposes only."
• "The Reporting Person has no present plans or proposals that relate to or would result in any of the actions required to be described in subsections (a) through (j) of Item 4 of Schedule 13D."

Industry Context

This Schedule 13D filing primarily details changes in insider ownership for Alset Inc. and does not provide broader industry context or trends. It reflects a significant increase in the CEO's personal stake, which is generally viewed as a positive signal of confidence in the company's future within its specific sector.

Comparison to Industry Standards

• This filing is specific to insider ownership and compensation, and does not contain financial performance metrics or operational results that would allow for direct comparison to global industry benchmarks or specific comparable companies/projects.
• The increase in insider ownership by a CEO to over 65% is a substantial stake, indicating a high level of commitment, which is generally seen as a positive sign of alignment with shareholder interests, though the specific percentage is unique to each company's capital structure and ownership history.

Corporate Governance

Related Party Transactions

• Award of 1,000,000 restricted shares to Chairman and Chief Executive Officer Chan Heng Fai as compensation for services rendered.

Stakeholder Impact

• Shareholders: Increased insider ownership by the CEO may signal confidence and long-term commitment, potentially boosting investor sentiment. The compensation plan could dilute existing shares but aims to align management incentives with shareholder value.
• Management/Employees: The 2025 Incentive Compensation Plan provides a mechanism for equity-based compensation, potentially motivating management and key employees.

Next Steps

• The reporting person may, at any time, review or reconsider its positions with respect to the Issuer and formulate plans or proposals with respect to any of such matters.

Key Dates

Recommendation

Keywords

Alset Inc., Heng Fai Ambrose Chan, HFE Holdings Limited, Schedule 13D, Insider Ownership, Common Stock, Restricted Shares, Share Acquisition, CEO Compensation, Corporate Governance, Investment