UPDATE: SG buybacks Monday: OCBC buys 100,000 shares; AEM, Keppel, SGX, HK Land, Raffles Medical, OUE

OCBC building in Signapore’s central business districtOCBC building in Signapore’s central business district. Photo taken pre-Covid.

Singapore companies announcing share buybacks on Monday, 7 March 2022: AEM Holdings, Hongkong Land, OCBC, Keppel Corp., Singapore Exchange (SGX), OUE Ltd., Singapore Shipping Corp., The Hour Glass, G.H.Y Culture & Media Holding, Raffles Medical Group and Global Investments Ltd.

This item was originally published on Monday, 7 March 2022 at 20:48 SGT; it has since been updated to include Best World International and Tuan Sing Holdings. 

OCBC

OCBC bought back 100,000 shares in the market at S$11.52 each for a total consideration, including other costs, of around S$1.15 million, the bank said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 700,000 shares at S$5.92 to S$6.00 each for a total consideration, including other costs, of around S$4.18 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Singapore Exchange

Singapore Exchange (SGX) bought back 103,100 shares in the market at S$9.42 to S$9.43 each for a total consideration, including other costs, of around S$972,519, the exchange operator said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 515,100 shares in the market at US$5.23 to US$5.38 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$2.69 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.

AEM Holdings

AEM Holdings bought back 150,300 shares in the market at S$3.97 to S$4.03 each for a total consideration, including other costs, of around S$601,167, the company said in a filing to SGX after the market close.

Temasek-backed AEM’s products include customized, application-specific semiconductor and electronics test and handling services for companies serving the advanced computing, 5G, and AI markets, the statement said. The company’s manufacturing plants are located Singapore, Malaysia, Indonesia, China, Finland and Vietnam.

Raffles Medical Group

Raffles Medical Group bought back 1.12 million shares in the market at S$1.15 each for a total consideration, including other costs, of around S$1.29 million, the hospital operator said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 372,400 shares in the market at S$1.99853 each for a total consideration, including other costs, of around S$746,164, the watch retailer said in a filing to SGX after the market close.

Best World International 

Best World International bought back 54.41 million shares in an off-market buyback by way of equal access offer at S$1.36 each for a total consideration, including other costs, of around S$74.0 million, the company said in a filing to SGX after the market close. The shares were cancelled, the filing said.

OUE

OUE bought back 45,000 shares in the market at S$1.27 each for a total consideration, including other costs, of around S$57,236, the property developer said in a filing to SGX after the market close.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 93,000 shares in the market at S$0.275 to S$0.28 each for a total consideration, including other costs, of around S$25,937, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15419 each for a total consideration, including other costs, of around S$77,153, the company said in a filing to SGX after the market close.

GIL invests in a cross-sector portfolio of assets which will generate steady income and potential appreciation; its investments include direct asset ownership, swaps, credit default swaps, debt, warrants, options, equity and loan agreements, according to its website. GIL is managed by Singapore Consortium Investment Management.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 165,300 shares in the market at S$0.42544 each for a total consideration, including other costs, of around S$70,469, the company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 20,000 shares in the market at S$0.39 each for a total consideration, including other costs, of around S$7,847, the company said in a filing to SGX after the market close.

The company is involved in property development and real estate and hotel investments, with operations across Singapore, China, Indonesia and Australia. Tuan Sing Holdings also has an around 80 percent stake in Singapore-listed subsidiary SP Corp. and a 44.5 percent interest in printed circuit board maker Gul Technologies Singapore, according to the company website.