UPDATE: SG buybacks Thursday: OCBC, Raffles Medical, OUE, Alliance Healthcare, Valuetronics, HG Metal

Raffles Medical outletRaffles Medical outlet

Singapore companies announcing share buybacks on Thursday, 31 March 2022: OCBC, Raffles Medical Group, Hongkong Land, OUE Ltd., Alliance Healthcare Group, Valuetronics Holdings, Tuan Sing Holdings, Singapore Shipping Corp., HG Metal Manufacturing, Hong Fok Corp., Eurosports Global and Global Investments Ltd. 

This item was originally published on Thursday, 31 March 2022, at 21:20 SGT; it has since been updated to include Global Palm Resources Holdings. 

OCBC

OCBC bought back 100,000 shares in the market at S$12.43 each for a total consideration, including other costs, of around S$1.24 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$4.93 to US$5.05 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$1.48 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 400,000 shares in the market at S$1.17 each for a total consideration, including other costs, of around S$468,701, the hospital operator said in a filing to SGX after the market close.

OUE

OUE bought back 19,000 shares in the market at S$1.33 each for a total consideration, including other costs, of around S$25,308, the property developer said in a filing to SGX after the market close.

Alliance Healthcare Group

Alliance Healthcare Group bought back 100,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$17,536, the healthcare company said in a filing to SGX after the market close.

The company offers medical benefit outsourcing, general practitioner and specialist clinic services and pharmaceutical services.

Valuetronics

Valuetronics Holdings bought back 150,000 shares in the market at S$0.54 each for a total consideration, including other costs, of around S$81,194, the electronics manufacturing services company said in a filing to SGX after the market close.

Global Palm Resources

Global Palm Resources Holdings bought back 55,600 shares in the market at S$0.21 each for a total consideration, including other costs, of around S$11,713, the palm oil producer 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$0.156 each for a total consideration, including other costs, of around S$78,059, 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.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 107,600 shares in the market at S$0.28 each for a total consideration, including other costs, of around S$30,167, 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.

HG Metal Manufacturing

HG Metal Manufacturing bought back 105,000 shares in the market at S$0.415 each for a total consideration, including other costs, of around S$43,687, the company said in a filing to SGX after the market close.

HG Metal Manufacturing is one of the largest steel distributors and processors in the Southeast Asian region.

Hong Fok Corp.

Hong Fok Corp. bought back 541,100 shares in the market at S$0.86 to S$0.865 each for a total consideration, including other costs, of around S$469,086, the property development and investment company said in a filing to SGX after the market close.

Eurosports Global

Eurosports Global bought back 50,000 shares in the market at S$0.168 each for a total consideration, including other costs, of around S$8,449, the company said in a filing to SGX after the market close.

The company distributes luxury automobiles and after-sales services for Lamborghini and Alfa Romeo in Singapore, and for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia, according to its website.

Tuan Sing Holdings

Tuan Sing Holdings bought back 8,000 shares in the market at S$0.41 to S$0.415 each for a total consideration, including other costs, of around S$3,340, 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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