SG buybacks Tuesday: ComfortDelGro, OCBC, Raffles Medical, Keppel, Valuetronics, HK Land

ComfortDelGro taxis queue in Singapore. Photo by Benjamin Chan on UnsplashComfortDelGro taxis queue in Singapore. Photo by Benjamin Chan on Unsplash

Singapore companies announcing share buybacks on Tuesday, 8 March 2022: Keppel Corp., OCBC, Hongkong Land, ComfortDelGro, Cosmosteel Holdings, Tuan Sing Holdings, OUE Ltd., G.K. Goh Holdings, The Hour Glass, Valuetronics Holdings, Ban Leong Technologies, G.H.Y Culture & Media Holding, Raffles Medical Group, Global Investments Ltd., and Global Palm Resources Holdings.

ComfortDelGro

ComfortDelGro bought back 142,500 shares in the market at S$1.35 each for a total consideration, including other costs, of around S$192,622, the land transportation company said in a filing to SGX after the market close.

OCBC

OCBC bought back 100,000 shares in the market at S$11.36 each for a total consideration, including other costs, of around S$1.14 million, the bank said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 1.275 million shares at S$5.89 to S$5.98 each for a total consideration, including other costs, of around S$7.58 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 598,000 shares in the market at US$5.07 to US$5.22 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$3.03 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.

Raffles Medical Group

Raffles Medical Group bought back 500,000 shares in the market at S$1.15 each for a total consideration, including other costs, of around S$575,861, the hospital operator said in a filing to SGX after the market close.

OUE

OUE bought back 68,800 shares in the market at S$1.25 each for a total consideration, including other costs, of around S$86,129, the property developer said in a filing to SGX after the market close.

Valuetronics Holdings bought back 350,000 shares in the market at S$0.52 each for a total consideration, including other costs, of around S$182,437, the electronics manufacturing services company said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 146,000 shares in the market at S$1.97883 each for a total consideration, including other costs, of around S$289,651, the watch retailer said in a filing to SGX after the market close.

Global Palm Resources

Global Palm Resources Holdings bought back 60,000 shares in the market at S$0.23 to S$0.235 each for a total consideration, including other costs, of around S$14,094, the palm oil producer said in a filing to SGX after the market close.

Ban Leong Technologies

Ban Leong Technologies bought back 86,600 shares in the market at S$0.375 to S$0.38 each for a total consideration, including other costs, of around S$33,011, the consumer electronics distributor said in a filing to SGX after the market close.

The company is the authorised distributor for more than 45 brand names, including Samsung, Razer, LG and Logitech, across Singapore, Malaysia and Thailand.

Tuan Sing Holdings

Tuan Sing Holdings bought back 35,000 shares in the market at S$0.37 to S$0.38 each for a total consideration, including other costs, of around S$13,162, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15325 each for a total consideration, including other costs, of around S$76,683, 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.K. Goh Holdings

G.K. Goh Holdings bought back 23,100 shares in the market at S$1.13 each for a total consideration, including other costs, of around S$26,170, the company said in a filing to SGX after the market close. The repurchased shares will be canceled, the filing said.

G.K. Goh Holdings is an investment company owning operating businesses and a portfolio of investments, including listed and unlisted equities, third-party managed funds and some non-controlling minority stakes. The company also acts as a co-investor for private-equity firms, family offices and insurance companies. It has invested in fiber optic networks in Europe, aged-care in Australia and a Japan REIT.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 203,700 shares in the market at S$0.40791 each for a total consideration, including other costs, of around S$83,261, the company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 813,500 shares in the market at S$0.101 each for a total consideration, including other costs, of around S$82,551, the company said in a filing to SGX after the market close.

The company is a supplier and distributor of piping system components for the energy, marine and other industries in Southeast Asia.