SG buybacks Thursday: Keppel, OCBC, HK Land, OUE, Valuetronics, Pan-United, Hong Fok

The OUE Bayfront building in Signapore’s central business district. Credit: Shenton WireThe OUE Bayfront building in Signapore’s central business district. Credit: Shenton Wire

Singapore companies announcing share buybacks on Thursday, 10 March 2022: Keppel Corp., OCBC, Hongkong Land, Tuan Sing Holdings, OUE Ltd., MDR Ltd., Global Palm Resources Holdings, Valuetronics Holdings, The Hour Glass, Pan-United Corp., Hong Fok Corp., G.H.Y Culture & Media Holding and Global Investments Ltd. 

Keppel Corp.

Keppel Corp. bought back 1.26 million shares at S$6.04 to S$6.13 each for a total consideration, including other costs, of around S$7.68 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

OCBC

OCBC bought back 100,000 shares in the market at S$11.70 each for a total consideration, including other costs, of around S$1.17 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 529,700 shares in the market at US$5.16 to US$5.23 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$2.73 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.

Valuetronics

Valuetronics Holdings bought back 300,000 shares in the market at S$0.515 each for a total consideration, including other costs, of around S$154,871, the electronics manufacturing services company said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 87,100 shares in the market at S$0.73 each for a total consideration, including other costs, of around S$63,781, the property development and investment company said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 90,000 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$180,463, the watch retailer said in a filing to SGX after the market close.

OUE

OUE bought back 15,000 shares in the market at S$1.2667 each for a total consideration, including other costs, of around S$19,029, the property developer said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 350,000 shares in the market at S$0.35 each for a total consideration, including other costs, of around S$122,880, the concrete maker said in a filing to SGX after the market close.

Global Palm Resources

Global Palm Resources Holdings bought back 50,000 shares in the market at S$0.23 each for a total consideration, including other costs, of around S$11,536, the palm oil producer said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 46,000 shares in the market at S$0.42914 each for a total consideration, including other costs, of around S$19,792, the company said in a filing to SGX after the market close.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15489 each for a total consideration, including other costs, of around S$77,503, 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.

MDR

MDR Ltd. bought back 53,200 shares in the market at S$0.072 each for a total consideration, including other costs, of around S$3,837, the distributor and retailer of telecom products and services said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 2,000 shares in the market at S$0.385 each for a total consideration, including other costs, of around S$814, 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.

 

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