SG buybacks Tuesday: Wilmar, OCBC, Keppel, Hongkong Land, Hour Glass

A wheat farm in Germany. Photo by Raphael Rychetsky on UnsplashA wheat farm in Germany. Photo by Raphael Rychetsky on Unsplash

Singapore companies announcing share buybacks on Tuesday, 7 June 2022: Wilmar International, OCBC, Keppel Corp., Hongkong Land, Cosmosteel Holdings, SHS Holdings, Global Investments Ltd., G.H.Y Culture & Media Holdings, Valuetronics Holdings, G.K. Goh Holdings, Global Testing Corp., Pan-United Corp., OUE Ltd., The Hour Glass and Eurosports Global.

Wilmar International

Wilmar International bought back 66,300 shares in the market at S$4.15 each for a total consideration, including other costs, of around S$275,469, the agri-business company said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 718,000 shares at S$6.82 to S$6.88 each for a total consideration, including other costs, of around S$4.93 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$11.88 each for a total consideration, including other costs, of around S$2.38 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 740,000 shares in the market at US$5.10 to US$5.20 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$3.77 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.

The Hour Glass

The Hour Glass bought back 350,000 shares in the market at S$2.39891 each for a total consideration, including other costs, of around S$841,775, the watch retailer 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 canceled, the filing said.

Global Testing Corp.

Global Testing Corp. bought back 79,600 shares in the market at S$1.17 to S$1.21 each for a total consideration, including other costs, of around S$95,831, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.1533 each for a total consideration, including other costs, of around S$76,708, 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 100,000 shares in the market at S$0.53 each for a total consideration, including other costs, of around S$53,074, the electronics manufacturing services company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 250,000 shares in the market at S$0.145 each for a total consideration, including other costs, of around S$36,460, 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.

Pan-United Corp.

Pan-United Corp. bought back 70,000 shares in the market at S$0.422 each for a total consideration, including other costs, of around S$29,721, the concrete maker said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 42,000 shares in the market at S$0.54 each for a total consideration, including other costs, of around S$22,733, the company said in a filing to SGX after the market close.

OUE

OUE bought back 13,800 shares in the market at S$1.3072 each for a total consideration, including other costs, of around S$18,066, the property developer said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 12,500 shares in the market at S$0.92 each for a total consideration, including other costs, of around S$11,548, 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.

Eurosports Global

Eurosports Global bought back 50,000 shares in the market at S$0.177 each for a total consideration, including other costs, of around S$8,902, 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.