SG buybacks Friday: OCBC, Hong Fok, HK Land, ISOTeam, HG Metal, Raffles Medical

OCBC branch in SingaporeOCBC branch in Singapore. Photo taken pre-Covid.

Singapore companies announcing share buybacks on Friday, 1 April 2022: OCBC, OUE Ltd., Hongkong Land, Hong Fok Corp., Tuan Sing Holdings, Eurosports Global, Isoteam, Global Investments Ltd., Valuetronics Holdings, G.H.Y Culture & Media Holding, HG Metal Manufacturing, Cosmosteel Holdings and Raffles Medical Group.

OCBC

OCBC bought back 100,000 shares in the market at S$12.36 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$4.91 to US$5.06 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$1.47 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 850,000 shares in the market at S$1.16 each for a total consideration, including other costs, of around S$987,477, the hospital operator said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 710,000 shares in the market at S$0.157 to S$0.158 each for a total consideration, including other costs, of around S$112,329, 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 2,272,700 shares in the market at S$0.865 to S$0.88 each for a total consideration, including other costs, of around S$2.0 million, the property development and investment company said in a filing to SGX after the market close.

OUE

OUE bought back 98,500 shares in the market at S$1.3136 each for a total consideration, including other costs, of around S$129,583, the property developer 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$0.15583 each for a total consideration, including other costs, of around S$77,974, 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.

HG Metal Manufacturing

HG Metal Manufacturing bought back 95,000 shares in the market at S$0.42 each for a total consideration, including other costs, of around S$40,003, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 50,000 shares in the market at S$0.52 each for a total consideration, including other costs, of around S$26,054, the company said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 100,000 shares in the market at S$0.54 each for a total consideration, including other costs, of around S$54,130, the electronics manufacturing services company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 6,000 shares in the market at S$0.41 each for a total consideration, including other costs, of around S$2,504, 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.

Eurosports Global

Eurosports Global bought back 52,200 shares in the market at S$0.16904 each for a total consideration, including other costs, of around S$8,875, 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.

ISOTeam

ISOTeam bought back 55,300 shares in the market at S$0.127 each for a total consideration, including other costs, of around S$7,069, the facilities maintenance company said in a filing to SGX after the market close.

Click here to follow more financial news on Shenton Wire.