SG buybacks Monday: Hongkong Land, Keppel, OCBC, Wing Tai, Valuetronics

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, 6 June 2022: Keppel Corp., OCBC, Wing Tai Holdings, Hongkong Land, Hong Fok Corp., Global Investments Ltd., SHS Holdings, Cosmosteel Holdings, G.H.Y Culture & Media Holding, ST Group Food Industries Holdings, OUE Ltd., G.K. Goh Holdings, The Hour Glass, Pan-United Corp., Global Testing Corp., Valuetronics Holdings, Eurosports Global and Sarine Technologies.

Keppel Corp.

Keppel Corp. bought back 576,800 shares at S$6.84 to S$6.89 each for a total consideration, including other costs, of around S$3.97 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

OCBC

OCBC bought back 200,000 shares in the market at S$11.86 each for a total consideration, including other costs, of around S$2.37 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 1,381,000  shares in the market on 2 June at US$4.84 to US$4.94 each, Jardine Matheson said in a notification filed to the U.K.’s Financial Conduct Authority and SGX on behalf of the company. A back-of-the-envelope calculation suggests the buyback was valued at least at US$6.68 million.

In addition, the company said it bought back 1,146,000 shares in the market on 3 June at US$4.96 to US$5.20 each. A back-of-the-envelope calculation suggests the buyback was valued at least at US$5.68 million.

Hongkong Land said it bought back 753,000 shares on Monday at US$5.13 to US$5.22 each. A back-of-the-envelope calculation suggests the buyback was valued at least at US$3.86 million.

The repurchased shares will be cancelled, the filings said.

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 436,000 shares in the market at S$2.39886 each for a total consideration, including other costs, of around S$1.05 million, the watch retailer said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 476,000 shares in the market at S$0.985 each for a total consideration, including other costs, of around S$470,315, the property development and investment company said in a filing to SGX after the market close.

Wing Tai Holdings

Wing Tai Holdings bought back 159,300 shares in the market at S$1.77197 each for a total consideration, including other costs, of around S$282,849, the property developer said in a filing to SGX after the market close.

SHS Holdings

SHS Holdings bought back 2.5 million shares in the market at S$0.155 each for a total consideration, including other costs, of around S$388,703, the construction engineering company said in a filing to SGX after the market close. The repurchased shares will be cancelled, the filing said.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15236 each for a total consideration, including other costs, of around S$76,237, 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.

Valuetronics

Valuetronics Holdings bought back 21,500 shares in the market at S$0.525 each for a total consideration, including other costs, of around S$11,322, the electronics manufacturing services company said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 29,300 shares in the market at S$0.92 each for a total consideration, including other costs, of around S$27,025, 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.

Pan-United Corp.

Pan-United Corp. bought back 48,000 shares in the market at S$0.421 each for a total consideration, including other costs, of around S$20,337, the concrete maker said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 175,000 shares in the market at S$0.144 to S$0.145 each for a total consideration, including other costs, of around S$25,446, 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.

OUE

OUE bought back 15,000 shares in the market at S$1.31 each for a total consideration, including other costs, of around S$19,679, the property developer said in a filing to SGX after the market close.

Sarine Technologies

Sarine Technologies bought back 40,000 shares in the market on 3 June at S$0.455 to S$0.46 each for a total consideration, including other costs, of around S$18,407, the company said in a filing to SGX after the market close.

In addition, the company said it bought back 15,000 shares in the market on Monday at S$0.45 each for a total consideration, including other costs, of around S$6,768.

The company develops and sells technologies for the diamond industry, including for grading rough and polished diamonds.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 30,200 shares in the market at S$0.53599 each for a total consideration, including other costs, of around S$16,237, the company said in a filing to SGX after the market close.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 18,400 shares in the market at S$0.117 to S$0.118  each for a total consideration, including other costs, of around S$2,199, 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.

Global Testing Corp.

Global Testing Corp. bought back 4,300 shares in the market at S$1.15 to S$1.18 each for a total consideration, including other costs, of around S$5,060, the company said in a filing to SGX after the market close.

The company provides testing services, such as wafer sorting, for the semiconductor industry.

Eurosports Global

Eurosports Global bought back 50,300 shares in the market at S$0.17502 each for a total consideration, including other costs, of around S$8,855, the company said in a filing to SGX after the market close.

The company distributes luxury automobiles and after-sales services for Lamborghini and Alfa Romeo in Singapore, and for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia, according to its website.