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.

For the first two months of 2015, there were a total of 141,231,410 shares repurchased by 35 stocks with a total consideration of S\$229.5 million. The total consideration was S\$97.2 million in January (click here to view more), whereas the total consideration was S\$132.3 million in February. The five stocks with the largest consideration amount in buybacks for the first two months of 2015 were Technics Oil & Gas, Singapore Technologies Engineering, Genting Singapore PLC, Oversea-Chinese Banking Corporation and Hyflux.

In contrast, there were only a total of 33,771,522 shares repurchased by 25 stocks with a total consideration of S\$43.1 million for the first two months of 2014. This registers an increase of more than five times in total consideration amount from 2014 to 2015 for the same period. The stock with the largest consideration amount in buybacks for this period last year was Sembcorp Marine with a total consideration of S\$10.0 million.

For the last quarter of 2014, there were a total of 533,484,500 shares repurchased by 50 stocks with a total consideration of S\$496.2 million. This is due mainly to a large buyback consideration amount of S\$262.2 million in December last year, which can be viewed in this market update here. The stock with the largest consideration amount in buybacks for this period was Genting Singapore PLC with a total consideration of S\$170.5 million. Genting Singapore PLC is still among the largest in terms of total consideration amount for the period of January to February this year with a total consideration of S\$16.8 million.

The table below details the specifics of the first two months of 2015 buybacks by the 35 stocks. The table is sort by the total consideration amount 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: Jan - Feb 2015 Total Consideration: Jan - Feb 2015 S\$ Cum no of shares purchased to date Percent* %
TECHNICS OIL & GAS 30/01/2015 23,493,297 1,600,000 91,560,750.17 1,657,000 0.71

SINGAPORE TECHNOLOGIES

ENGINEERING

 24/04/2014 62,340,211 11,446,300 38,682,734.53 13,480,300 0.43
GENTING SINGAPORE PLC 22/04/2014 1,223,813,684 16,659,600 16,821,936.82 171,006,600 1.40

OVERSEA-CHINESE BANKING

CORPORATION

 24/04/2014 171,866,257 1,450,000 15,129,632.89 15,836,500 0.46
HYFLUX 24/04/2014 82,715,198 10,108,300 9,297,444.54 57,654,300 6.97
SEMBCORP MARINE 18/02/2015 208,932,201 3,000,000 9,042,116.12 3,400,000 0.16
SATS 23/07/2014 22,448,073 3,000,000 8,793,147.12 15,333,000 1.37

BIOSENSORS INTERNATIONAL

GROUP

 24/07/2014 169,849,298 10,969,400 7,275,482.73 27,421,400 1.61
SINGAPORE PRESS HOLDINGS 02/12/2014 159,988,429 1,500,000 6,141,596.62 2,750,000 0.17
GLOBAL INVACOM GROUP 30/04/2014 23,180,230 11,610,000 4,561,861.67 18,983,000 8.18
SINGAPORE TELECOMMUNICATIONS 16/02/2015 797,178,847 929,710 3,879,794.48 929,710 0.01
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 10,298,000 3,605,760.13 10,298,000 1.01
COURTS ASIA 30/07/2014 55,573,910 4,496,200 2,094,183.08 15,763,200 2.84
GOODLAND GROUP 29/01/2015 33,645,984 7,151,000 1,998,907.17 4,413,000 1.41
DBS GROUP HOLDINGS 28/04/2014 24,455,964 100,000 1,927,209.92 100,000 0.00

PACIFIC CENTURY REGIONAL

DEVELOPMENTS

 28/04/2014 304,319,210 5,537,200 1,644,280.20 297,062,200 9.76
GLOBAL TESTING CORPORATION 28/04/2014 75,741,100 18,477,000 1,630,905.56 38,584,000 5.09
SEMBCORP INDUSTRIES 24/04/2014 35,738,098 200,000 841,205.29 3,000,000 0.17
HO BEE LAND 28/04/2014 33,378,050 409,100 799,793.60 409,100 0.06
HOTUNG INVESTMENT HLDGS 29/04/2014 101,242,278 5,172,600 782,895.69 5,172,600 0.51
FALCON ENERGY GROUP 25/07/2014 81,759,550 2,505,600 707,094.09 13,945,600 1.71
JUBILEE INDUSTRIES HOLDINGS 16/01/2015 23,472,924 10,642,000 571,338.20 13,682,000 4.10
GP INDUSTRIES 30/07/2014 49,629,448 869,800 543,853.48 7,566,800 1.52
OSIM INTERNATIONAL 28/03/2014 75,326,374 209,000 398,119.75 6,443,000 0.87
AMARA HOLDINGS 29/04/2014 57,693,600 460,000 236,942.41 560,000 0.10
KOH BROTHERS GROUP 30/04/2014 44,143,040 584,900 184,691.66 19,127,900 4.33
SINGHAIYI GROUP 25/07/2014 286,368,128 689,000 99,407.44 689,000 0.02
KSH HOLDINGS 25/07/2014 41,435,330 189,000 96,155.92 1,637,000 0.40
BUND CENTER INVESTMENT 25/04/2014 151,838,772 324,000 66,683.88 851,000 0.03
POWERMATIC DATA SYSTEMS 25/07/2014 17,400,400 177,000 32,413.56 297,000 0.17
VIKING OFFSHORE AND MARINE 28/04/2014 79,467,700 215,000 15,951.00 2,215,000 0.28
GLOBAL PALM RESOURCES HOLDINGS 23/04/2014 41,296,800 95,000 15,825.25 3,605,000 0.87
CHOSEN HOLDINGS 28/10/2014 28,391,842 106,700 15,257.19 156,700 0.06
SOUP RESTAURANT GROUP 30/04/2014 28,684,100 40,000 8,281.52 1,234,000 0.43
ISDN HOLDINGS 25/04/2014 35,994,495 10,000 2,400.00 5,260,000 1.46

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

Technics Oil & Gas

On 30 January 2015, a share buy-back resolution was passed for Technics Oil & Gas. In the first two months of 2015, Technics Oil & Gas repurchased a total number of 1,600,000 shares with a total consideration of S\$91,560,750.17.

The maximum number of shares authorized for the buy-back transaction was 23,493,297. As of end of last week, by way of acquisition, Technics Oil & Gas had purchased a cumulative amount of 1,657,000 shares under the 30 January 2015 resolution. This represented 0.71% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 27 February 2015, the number of issued shares excluding treasury shares stood at 233,332,975 and the number of treasury shares held after purchase stood at 1,657,000.

Singapore Technologies Engineering

On 24 April 2014, a share buy-back resolution was passed for Singapore Technologies Engineering. In the first two months of 2015, Singapore Technologies Engineering repurchased a total number of 11,446,300 shares with a total consideration of S\$38,682,734.53.

The maximum number of shares authorized for the buy-back transaction was 62,340,211. As of end of last week, by way of acquisition, Singapore Technologies Engineering had purchased a cumulative amount of 13,480,300 shares under the 24 April 2014 resolution. This represented 0.43% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 10 February 2015, the number of issued shares excluding treasury shares stood at 3,108,484,191 and the number of treasury shares held after purchase stood at 13,480,300.

Genting Singapore PLC

On 22 April 2014, a share buy-back resolution was passed for Genting Singapore PLC. In the first two months of 2015, Genting Singapore PLC repurchased a total number of 16,659,600 shares with a total consideration of S\$16,821,936.82.

The maximum number of shares authorized for the buy-back transaction was 1,223,813,684. As of end of last week, by way of acquisition, Genting Singapore PLC had purchased a cumulative amount of 171,006,600 shares under the 22 April 2014 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 2015, the number of issued shares excluding treasury shares stood at 12,079,766,358.

Oversea-Chinese Banking Corporation

On 24 April 2014, a share buy-back resolution was passed for Oversea-Chinese Banking Corporation. In the first two months of 2015, Oversea-Chinese Banking Corporation repurchased a total number of 1,450,000 shares with a total consideration of S\$15,129,632.89.

The maximum number of shares authorized for the buy-back transaction was 171,866,257. As of end of last week, by way of acquisition, Oversea-Chinese Banking Corporation had purchased a cumulative amount of 15,836,500 shares under the 24 April 2014 resolution. This represented 0.46% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 26 February 2015, the number of issued shares excluding treasury shares stood at 3,983,162,123 and the number of treasury shares held after purchase stood at 9,767,196.

Hyflux

On 24 April 2014, a share buy-back resolution was passed for Hyflux. In the first two months of 2015, Hyflux repurchased a total number of 10,108,300 shares with a total consideration of S\$9,297,444.54.

The maximum number of shares authorized for the buy-back transaction was 82,715,198. As of end of last week, by way of acquisition, Hyflux had purchased a cumulative amount of 57,654,300 shares under the 24 April 2014 resolution. This represented 6.97% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 26 January 2015, the number of issued shares excluding treasury shares stood at 806,876,689 and the number of treasury shares held after purchase stood at 57,654,300.