SG buybacks Friday: Keppel buys S$6M; OCBC, Wilmar, HK Land, OUE, Hong Fok

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Singapore companies announcing share buybacks on Friday, 6 May 2022: Hongkong Land, OCBC, Keppel Corp., Wilmar International, OUE Ltd., Tuan Sing Holdings, G.K. Goh Holdings, Hong Fok Corp. and Global Investments Ltd.

Keppel Corp.

Keppel Corp. bought back 880,000 shares at S$6.79 to S$6.84 each for a total consideration, including other costs, of around S$6.0 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Wilmar International

Wilmar International bought back 1,438,3000 shares in the market at S$4.34 to S$4.35 each for a total consideration, including other costs, of around S$6.26 million, the agri-business company said in a filing to SGX after the market close.

OCBC

OCBC bought back 300,000 shares in the market at S$11.96 each for a total consideration, including other costs, of around S$3.59 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 370,000 shares in the market at US$4.70 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$1.74 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 563,000 shares in the market at S$0.885 to S$0.89 each for a total consideration, including other costs, of around S$502,021, the property development and investment company said in a filing to SGX after the market close.

OUE

OUE bought back 29,700 shares in the market at S$1.3401 each for a total consideration, including other costs, of around S$39,861, the property developer said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 86,100 shares in the market at S$0.93 each for a total consideration, including other costs, of around S$80,279, 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$0.157 each for a total consideration, including other costs, of around S$78,559, 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 9,000 shares in the market at S$0.39 to S$0.395 each for a total consideration, including other costs, of around S$3,575, 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.