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Trader works at DBS Group headquarters in Singapore. Reuters

Sing Investments & Finance, a provider of loans and credit services to individuals and businesses, on Wednesday said controlling shareholder Lee Sze Siong purchased 1.55 million shares in the company.

Lee, the deputy managing director of Sing Investments, has invested S$2.37 million via off-market transaction, the company said in a regulatory filing.

The share purchase was done by Lee's family investment vehicle F.H. Lee Holdings through married deal at S$1.53 per share.

As a result, Lee's family now have a combined stake of 29 percent from 28.06 percent earlier, which is still below the 30 percent threshold that would trigger a mandatory general offer.

Sing Investments offers deposit, hire purchase financing, mortgage lending, stock and share financing, trade and inventory financing, equipment leasing, and nominee services.

At 0640 GMT, shares in Sing Investments traded down 1.2 percent at S$1.55 on the Singapore Exchange. The stock has gained 38 percent over an year.