UPDATE: SG buybacks Wednesday: Wilmar buys S$16M; Keppel, HK Land, OUE, Sarine, Hong Fok

Palm fruit bunches. Photo by Mike Stezycki on UnsplashPalm fruit bunches. Photo by Mike Stezycki on Unsplash

Singapore companies announcing share buybacks on Wednesday, 4 May 2022: Keppel Corp., Hongkong Land, Wilmar International, OUE Ltd., ST Group Food Industries Holdings, G.K. Goh Holdings, Hong Fok Corp., Global Investments Ltd. and Sarine Technologies.

This item was originally published on Wednesday, 4 May 2022 at 21:24 SGT; it has since been updated to include Tuan Sing Holdings.

Wilmar International

Wilmar International bought back 3,626,600 shares in the market at S$4.40 to S$4.43 each for a total consideration, including other costs, of around S$16.04 million, the agri-business company said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 880,000 shares at S$6.83 to S$6.89 each for a total consideration, including other costs, of around S$6.04 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 803,500 shares in the market at US$4.66 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 US$3.74 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 776,000 shares in the market at S$0.885 to S$0.89 each for a total consideration, including other costs, of around S$691,328, the property development and investment company said in a filing to SGX after the market close.

OUE

OUE bought back 60,000 shares in the market at S$1.345 each for a total consideration, including other costs, of around S$80,821, 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$0.15654 each for a total consideration, including other costs, of around S$78,329, 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 65,500 shares in the market at S$0.935 each for a total consideration, including other costs, of around S$61,400, 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.

Sarine Technologies

Sarine Technologies bought back 50,000 shares in the market at S$0.475 to S$0.485 each for a total consideration, including other costs, of around S$24,030, the company said in a filing to SGX after the market close. The company develops and sells technologies for the diamond industry, including for grading rough and polished diamonds.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 82,900 shares in the market at S$0.118 each for a total consideration, including other costs, of around S$9,816, the company said in a filing to SGX after the market close.

The Australia-based company holds franchise and license rights to nine brands, including PappaRich, NeNe Chicken, Gong Cha, Pafu, Kurimu Japanese Cream Choux, Hokkaido Baked Cheese Tart, IPPUDO and iDarts Australia. The group operates around 133 outlets across Australia, Malaysia, New Zealand and the United Kingdom.

Tuan Sing Holdings

Tuan Sing Holdings bought back 17,000 shares in the market at S$0.395 to S$0.40 each for a total consideration, including other costs, of around S$6,831, 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.