SG buybacks Friday: Keppel buys S$6M; Hongkong Land, Alliance Healthcare, Hong Fok

Oil drilling rigs at Cromarty Firth in the U.K. Photo by Ben Wicks on UnsplashOil drilling rigs at Cromarty Firth in the U.K. Photo by Ben Wicks on Unsplash

Singapore companies announcing share buybacks on Friday, 29 April 2022: Hongkong Land, Keppel Corp., Tuan Sing Holdings, Alliance Healthcare Group, G.K. Goh Holdings, Hong Fok Corp. and Global Investments Ltd.

Keppel Corp.

Keppel Corp. bought back 866,000 shares at S$6.87 to S$7.00 each for a total consideration, including other costs, of around S$6.02 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 601,000 shares in the market at US$4.69 to US$4.80 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 around US$2.82 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.

Hong Fok Corp.

Hong Fok Corp. bought back 350,000 shares in the market at S$0.875 each for a total consideration, including other costs, of around S$307,201, 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 226,100 shares in the market at S$0.935 to S$0.94 each for a total consideration, including other costs, of around S$213,012, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.158 each for a total consideration, including other costs, of around S$79,060, 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.

Alliance Healthcare Group

Alliance Healthcare Group bought back 50,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$8,768, 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.

Tuan Sing Holdings

Tuan Sing Holdings bought back 9,000 shares in the market at S$0.40 each for a total consideration, including other costs, of around S$3,690, 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.