SG buybacks Thursday: Keppel buys 1M shares; OCBC, HK Land, OUE, Valuetronics, Pan-United

The Reflections at Keppel Bay property in Singapore. The site was developed by Keppel Corp. Photo by Victor on UnsplashThe Reflections at Keppel Bay property in Singapore. The site was developed by Keppel Corp. Photo by Victor on Unsplash

Singapore companies announcing share buybacks on Thursday, 17 March 2022: Hongkong Land, Keppel Corp., OCBC, Broadway Industrial Group, Tuan Sing Holdings, Valuetronics Holdings, OUE Ltd., Pan-United Corp., Hong Fok Corp., G.H.Y Culture & Media Holding, G.K. Goh Holdings, Cosmosteel Holdings and Global Investments Ltd. 

Keppel Corp.

Keppel Corp. bought back 1 million shares at S$6.11 to S$6.19 each for a total consideration, including other costs, of around S$6.16 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$12.16 each for a total consideration, including other costs, of around S$1.22 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 300,000 shares in the market at US$4.81 to US$4.95 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$1.44 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 150,000 shares in the market at S$0.515 each for a total consideration, including other costs, of around S$77,435, the electronics manufacturing services company said in a filing to SGX after the market close.

OUE

OUE bought back 33,800 shares in the market at S$1.2756 each for a total consideration, including other costs, of around S$43,180, the property developer said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 317,200 shares in the market at S$0.122 to S$0.123 each for a total consideration, including other costs, of around S$39,241, 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.

Pan-United Corp.

Pan-United Corp. bought back 200,000 shares in the market at S$0.35 each for a total consideration, including other costs, of around S$70,330, the concrete maker said in a filing to SGX after the market close.

Broadway Industrial Group

Broadway Industrial Group bought back 250,000 shares in the market at S$0.20 each for a total consideration, including other costs, of around S$50,289, the company said in a filing to SGX after the market close.

Broadway Industrial manufactures precision-machined components, including actuator arms and other parts for the hard disk drive (HDD) industry. The company has four manufacturing facilities across China and Thailand.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.1549 each for a total consideration, including other costs, of around S$77,508, 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 13,000 shares in the market at S$1.13 each for a total consideration, including other costs, of around S$14,739, 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 31,200 shares in the market at S$0.43401 each for a total consideration, including other costs, of around S$13,590, the company said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 344,000 shares in the market at S$0.74 each for a total consideration, including other costs, of around S$255,350, the property development and investment company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 12,000 shares in the market at S$0.385 each for a total consideration, including other costs, of around S$4,675, 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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