OREANDA-NEWS. Share buybacks are a simple strategy that sees a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once shares are bought back they will be converted into treasury shares which means that are no longer categorised as shares outstanding. Motivations for share buy-backs include companies seeing stock valuations aligned with balance sheet objectives or employee compensation changes.

Share buy-back information can be found on the company disclosure page on the SGX website using the Announcement category and sub category of Share Buy Back-On Market. In the month to date, there were a total consideration of S\$86.1 million in share buybacks.

For the fourth week of the month from 19 to 23 January, there were a total of 30,675,300 shares repurchased by 17 stocks with a total consideration of S\$24.7 million. In contrast, there were a total of 2,645,000 shares repurchased by six stocks with a total consideration of S\$7.6 million over the same period last year. The five stocks with the largest consideration amount in buybacks last week were Singapore Technologies Engineering, Genting Singapore PLC, Biosensors International Group, Global Invacom Group and Hyflux. This followed on from a total of S\$33.3 million in buyback values in the preceding week.

The table below details the specifics of the buybacks by these 17 stocks. The table is sort by the total consideration amount from 19 to 23 January which collates the amount of shares purchased and the purchasing price of the shares. The date of the relevant share buyback mandate is also provided in addition to the amount of shares authorized to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies issued shares that have been repurchased under the mandate are also provided.

Name Start Date Mandate Total no of shares purchased: 19-23 Jan Total Consideration: 19-23 Jan S\$ Cum no of shares purchased to date
SINGAPORE TECHNOLOGIES ENGINEERING 24/04/2014 62,340,211 2,400,100 8,099,808.82 9,347,100
GENTING SINGAPORE PLC 22/04/2014 1,223,813,684 6,459,600 6,481,476.70 171,006,600
BIOSENSORS INTERNATIONAL GROUP 24/07/2014 169,849,298 3,877,400 2,707,670.26 27,421,400
GLOBAL INVACOM GROUP 30/04/2014 23,180,230 5,650,000 2,225,133.23 18,983,000
HYFLUX 24/04/2014 82,715,198 1,794,300 1,703,674.61 57,263,300
SATS 23/07/2014 22,448,073 490,000 1,445,199.30 15,333,000
HO BEE LAND 28/04/2014 33,378,050 409,100 799,793.60 409,100
JUBILEE INDUSTRIES HOLDINGS 16/01/2015 23,472,924 6,905,000 369,727.05 13,682,000
COURTS ASIA 30/07/2014 55,573,910 446,000 210,182.71 14,218,000
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 570,000 194,090.32 8,343,000
FALCON ENERGY GROUP 25/07/2014 81,759,550 663,600 188,429.14 13,945,600
GP INDUSTRIES 30/07/2014 49,629,448 229,200 145,297.93 7,355,200
KSH HOLDINGS 25/07/2014 41,435,330 189,000 96,155.92 1,637,000
SINGHAIYI GROUP 25/07/2014 286,368,128 210,000 30,806.32 689,000
GLOBAL TESTING CORPORATION 28/04/2014 71,944,200 283,000 25,508.15 12,261,000
GLOBAL PALM RESOURCES HOLDINGS 23/04/2014 41,296,800 95,000 15,825.25 3,605,000
AMARA HOLDINGS 29/04/2014 57,693,600 4,000 2,102.94 560,000

Source: SGX *percentage of company’s issued shares excluding treasury shares as at the date of the share buy-back resolution

Singapore Technologies Engineering

On 24 April 2014, a share buy-back resolution was passed for Singapore Technologies Engineering. Between 19 and 23 January, Singapore Technologies Engineering repurchased a total number of 2,400,100 shares with a total consideration of S\$8,099,808.82.

The maximum number of shares authorized for the buy-back transaction was 62,340,211. As of end of the fourth week of January, by way of acquisition, Singapore Technologies Engineering had purchased a cumulative amount of 9,347,100 shares under the 24 April resolution. This represented 0.30% of the company's issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 22 January, the number of issued shares excluding treasury shares stood at 3,111,848,712 and the number of treasury shares held after purchase stood at 9,347,100.

Genting Singapore PLC

On 22 April 2014, a share buy-back resolution was passed for Genting Singapore PLC. Between 19 and 23 January, Genting Singapore PLC repurchased a total number of 6,459,600 shares with a total consideration of S\$6,481,476.70.
The maximum number of shares authorized for the buy-back transaction was 1,223,813,684. As of end of the fourth week of January, by way of acquisition, Genting Singapore PLC had purchased a cumulative amount of 171,006,600 shares under the 22 April resolution. This represented 1.40% of the company's issued shares (excluding treasury shares) as at the date of the share buy-back resolution.
As of 21 January, the number of issued shares excluding treasury shares stood at 12,079,766,358 and the number of treasury shares held after purchase stood at 0.

Biosensors International Group

On 24 July 2014, a share buy-back resolution was passed for Biosensors International Group. As of end of the fourth week of January, Biosensors International Group repurchased a total number of 3,877,400 shares with a total consideration of S\$2,707,670.26.

The maximum number of shares authorized for the buy-back transaction was 169,849,298. As of end of the fourth week of January, by way of acquisition, Biosensors International Group had purchased a cumulative amount of 27,421,400 shares under the 24 July resolution. This represented 1.61% of the company's issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 21 January, the number of issued shares excluding treasury shares stood at 1,671,616,587 and the number of treasury shares held after purchase stood at 87,662,400.

Global Invacom Group

On 30 April 2014, a share buy-back resolution was passed for Global Invacom Group. Between 19 and 23 January, Global Invacom Group repurchased a total number of 5,650,000 shares with a total consideration of S\$2,225,133.23.                                                                                                                                                               

The maximum number of shares authorized for the buy-back transaction was 23,180,230. As of end of the fourth week of January, by way of acquisition, Global Invacom Group had purchased a cumulative amount of 18,983,000 shares under the 30 April resolution. This represented 8.18% of the company's issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 23 January, the number of issued shares excluding treasury shares stood at 257,449,299 and the number of treasury shares held after purchase stood at 24,953,000.

Hyflux

On 24 April 2014, a share buy-back resolution was passed for Hyflux. Between 19 and 23 January, Hyflux repurchased a total number of 1,794,300 shares with a total consideration of S\$1,703,674.61.

The maximum number of shares authorized for the buy-back transaction was 82,715,198. As of end of the fourth week of January, by way of acquisition, Hyflux had purchased a cumulative amount of 57,263,300 shares under the 24 April resolution. This represented 6.92% of the company's issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 23 January, the number of issued shares excluding treasury shares stood at 807,267,689 and the number of treasury shares held after purchase stood at 57,263,300.