UPDATE: SG buybacks Wednesday: Singtel, Keppel, Jardine Matheson, HK Land, Hour Glass, Singapore Shipping

Singtel retail outlet at Tiong Bahru PlazaSingtel retail outlet at Tiong Bahru Plaza; photo taken pre-Covid

Singapore companies announcing share buybacks on Wednesday, 16 February 2022: Jardine Matheson Holdings, Hong Kong Land, Singapore Shipping Corp., The Hour Glass and Keppel Corp.

This item was originally published on Wednesday, 16 February 2022 at 20:26 SGT; it has since been updated to include Singtel.

Singtel

Singtel bought back 838,496 shares in the market at S$2.54 to S$2.56 each for a total consideration, including other costs, of around S$2.14 million, the regional telco said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 30,000 shares at S$6.02 each for a total consideration, including other costs, of around S$180,871, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 10,400 shares in the market at US$59.84 to US$60 each, the company said in a filing to SGX after the market close. The repurchased shares will be cancelled, the filing said.

A back-of-the-envelope calculation suggests the buyback was valued at least at US$622,336.

Jardine Matheson is a holding company operating mainly in China and Southeast Asia, with businesses including motor vehicles, property investment and development, luxury hotels, food retailing, heavy equipment and agribusiness.

Jardine Strategic owned around 59.31 percent of Jardine Matheson as of 11 March 2021. Jardine Matheson is the controlling shareholder of Jardine Strategic. In addition, Jardine Matheson’s group businesses include: Jardine Pacific, Jardine International Motors (JIM), Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage (Jardine C&C) and Astra.

Hongkong Land

Hongkong Land bought back 401,000 shares in the market at US$5.66 to US$5.74 each, Jardine Matheson said in a notification filed to the U.K.’s Financial Conduct Authority and SGX on behalf of the company. The repurchased shares will be cancelled, the filing said.

A back-of-the-envelope calculation suggests the buyback was valued at least at US$2.27 million.

The company, which is listed on the London Stock Exchange, with secondary listings in Singapore and Bermuda, is a landlord and property developer in China, Hong Kong, Jakarta and Singapore. Jardine Strategic held around 50.4 percent of Hongkong Land as of 16 April 2021, and around 59.1 percent of Jardine Matheson as of 5 March 2020.

The Hour Glass

The Hour Glass bought back 115,500 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$231,594, the watch retailer said in a filing to SGX after the market close.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 65,100 shares in the market at S$0.28 each for a total consideration, including other costs, of around S$18,252, the company said in a filing to SGX after the market close.

Singapore Shipping is an Asian shipping group, involved in owning and managing ships as well as shipping agency, terminal operations and logistics services.