UPDATE: SG buybacks Tuesday: ST Engineering, OCBC, Keppel, China Sunsine Chemical, Hong Fok

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

Singapore companies announcing share buybacks on Tuesday, 17 May 2022: ST Engineering, OCBC, China Sunsine Chemical Holdings, Hongkong Land, Keppel Corp., OUE Ltd., Pan-United Corp., Cosmosteel Holdings, Hong Fok Corp. and Global Investments Ltd.

This item was originally published on Tuesday, 17 May 2022 at 11:16 p.m. SGT. It has since been updated to include Sarine Technologies.

ST Engineering

ST Engineering bought back 468,100 shares in the market at S$4.02 to S$4.04 each for a total consideration, including other costs, of around S$1.89 million, the aerospace and defense company said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 800,000 shares at S$6.60 to S$6.67 each for a total consideration, including other costs, of around S$5.31 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

OCBC

OCBC bought back 300,000 shares in the market at S$11.74 each for a total consideration, including other costs, of around S$3.53 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 550,000 shares in the market at US$4.59 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$2.52 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 190,800 shares in the market at S$0.875 each for a total consideration, including other costs, of around S$167,468, the property development and investment company said in a filing to SGX after the market close.

OUE

OUE bought back 33,000 shares in the market at S$1.3061 each for a total consideration, including other costs, of around S$43,166, the property developer said in a filing to SGX after the market close.

China Sunsine Chemical Holdings

China Sunsine Chemical Holdings bought back 40,000 shares in the market at S$0.43 to S$0.435 each for a total consideration, including other costs, of around S$17,285, the specialty rubber chemicals producer 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$0.15097 each for a total consideration, including other costs, of around S$75,542, 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.

Pan-United Corp.

Pan-United Corp. bought back 72,000 shares in the market at S$0.41 each for a total consideration, including other costs, of around S$29,691, the concrete maker said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 100,000 shares in the market at S$0.148 each for a total consideration, including other costs, of around S$14,886, 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.

Sarine Technologies

Sarine Technologies bought back 16,200 shares in the market at S$0.44 each for a total consideration, including other costs, of around S$7,147, 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.