SG buybacks Monday: Hongkong Land, Hour Glass, Kim Heng, Tuan Sing

The entrance to Two Exchange Square in the central business district in Hong Kong; the property is part of Hongkong Land's investment portfolio. The HKEx headquarters is located there. Photo by Cheung Yin on UnsplashThe entrance to Two Exchange Square in the central business district in Hong Kong; the property is part of Hongkong Land's investment portfolio. The HKEx headquarters is located there. Photo by Cheung Yin on Unsplash

Singapore companies announcing share buybacks on Monday, 25 April 2022: Hongkong Land, Tuan Sing Holdings, Kim Heng Ltd., The Hour Glass and Global Investments Ltd.

Hongkong Land

Hongkong Land bought back 359,200 shares in the market at US$4.64 to US$4.68 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$1.67 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.

The Hour Glass

The Hour Glass bought back 606,000 shares in the market at S$2.47068 each for a total consideration, including other costs, of around S$1.50 million, the watch retailer said in a filing to SGX after the market close.

Kim Heng Ltd.

Kim Heng Ltd. bought back 300,000 shares in the market at S$0.087 to S$0.088 each for a total consideration, including other costs, of around S$26,351, 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$0.15701 each for a total consideration, including other costs, of around S$78,564, 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.

Tuan Sing Holdings

Tuan Sing Holdings bought back 24,000 shares in the market at S$0.405 to S$0.41 each for a total consideration, including other costs, of around S$9,777, 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.