SG buybacks Friday: OCBC, HK Land, Keppel, OUE, Valuetronics, GK Goh, Cosmosteel, Hour Glass

OCBC Bank outlet in Johor Bahru in MalaysiaOCBC Bank outlet in Johor Bahru in Malaysia

Singapore companies announcing share buybacks on Friday, 11 March 2022: OCBC, Hongkong Land, Keppel Corp., OUE Ltd., Tuan Sing Holdings, Valuetronics Holdings, MDR Ltd., The Hour Glass, Singapore Shipping Corp., G.K. Goh Holdings, Hong Fok Corp., G.H.Y Culture & Media Holding, Global Investments Ltd., and Cosmosteel Holdings. 

Keppel Corp.

Keppel Corp. bought back 960,000 shares at S$6.06 to S$6.12 each for a total consideration, including other costs, of around S$5.86 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$11.68 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 496,000 shares in the market at US$5.09 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$2.52 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.

OUE

OUE bought back 10,000 shares in the market at S$1.27 each for a total consideration, including other costs, of around S$12,719, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 46,200 shares in the market at S$1.99 each for a total consideration, including other costs, of around S$92,174, the watch retailer said in a filing to SGX after the market close.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 117,300 shares in the market at S$0.275 to S$0.28 each for a total consideration, including other costs, of around S$32,639, 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$0.154 each for a total consideration, including other costs, of around S$77,058, 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 18,800 shares in the market at S$0.072 each for a total consideration, including other costs, of around S$1,356, the distributor and retailer of telecom products and services said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 108,100 shares in the market at S$0.515 each for a total consideration, including other costs, of around S$55,805, the electronics manufacturing services company said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 44,500 shares in the market at S$0.43337 each for a total consideration, including other costs, of around S$19,336, the company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 200,000 shares in the market at S$0.111 each for a total consideration, including other costs, of around S$22,329, 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.

Hong Fok Corp.

Hong Fok Corp. bought back 181,400 shares in the market at S$0.735 to S$0.74 each for a total consideration, including other costs, of around S$134,651, the property development and investment company said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 756,100 shares in the market at S$1.13 each for a total consideration, including other costs, of around S$856,587, 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.

Tuan Sing Holdings

Tuan Sing Holdings bought back 11,000 shares in the market at S$0.38 to S$0.385 each for a total consideration, including other costs, of around S$4,235, 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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