SGX Market Updates

Author: SGX   |   Latest post: Mon, 5 Jun 2023, 8:55 AM


Fewer Director Filings Amid Focus on Company Earnings

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Share Buybacks

FOR the 4 local trading sessions that spanned Aug 5 to 11, the Straits Times Index (STI) gained 1 per cent, with the FTSE China A50 Index gaining 0.8 per cent, the Hang Seng Index declining 1 per cent and the FTSE Bursa Malaysia KLCI slipping 0.7 per cent.

Overall, institutions were net buyers of Singapore stocks over the first 7 sessions of August with S$341 million of net inflows. 

OCBC, DBS and Keppel Corporation led the net institutional inflows for the 7 sessions through to Aug 10.

Meanwhile, UOB, Mapletree Industrial Trust and NetLink NBN Trust led the net institutional outflows for the same 7 sessions. 

Share buybacks

There were 11 primary-listed stocks conducting share buybacks over the 4 sessions ended Aug 11, with a total consideration of S$48 million up from S$26.5 million for the preceding 5 sessions. 

Keppel Corporation, Wilmar International and OCBC led the consideration tally. Keppel bought back 2,398,000 shares at an average price of S$7 per share. On the current mandate, it has bought back 1.93 per cent of its issued shares (excluding treasury shares) as of Aug 11.

Director and substantial shareholder transactions

The 4 trading sessions saw close to 50 changes to director interests and substantial shareholdings filed for fewer than 20 primary-listed stocks. This included 3 company director acquisitions with no disposals filed, while substantial shareholders filed 4 acquisitions and 5 disposals.

First Sponsor Group

Between Aug 4 and 5, First Sponsor Group non-executive chairman Calvin Ho Han Leong acquired 300,000 shares of the company at an average price of S$1.29 per share. With a consideration of S$388,211 this increased his total interest in the group from 46.44 per cent to 46.47 per cent. It followed on from the acquisition of 599,000 shares of the company at an average price of S$1.37 per share between Mar 17 and 18 and 63,900 shares at S$1.34 per share on Feb 24. Ho was appointed non-executive chairman of the company in April 2015. Prior to this, he had served as the non-executive vice-chairman of the company since Oct 1, 2007. He has also accumulated extensive experience during his tenure as CEO of Singapore-incorporated Tai Tak Estates.

EnGro Corporation 

On Aug 4, EnGro Corporation substantial shareholder Chua Wee Keng acquired 61,400 shares of the company at S$1.27 per share. With a consideration of S$78,217, this increased his direct interest in the company from 7.66 per cent to 7.71 per cent. Chua has gradually increased his interest in Engro Corporation from 7.39 per cent prior to Jun 1. EnGro is a leading provider of building materials, with more than 40 years of operational experience shaping landscapes in various parts of Asia. The group recorded a revenue of S$129.6 million in 2022, representing a 33.7 per cent increase from the S$96.9 million registered in 2020, boosted by a turnaround in the Singapore construction sector.


Inside Insights is a weekly column on The Business Times, read the original version

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Related Stocks

Chart Stock Name Last Change Volume 
OCBC Bank 12.29 -0.04 (0.32%) 646,500 
DBS 30.93 -0.13 (0.42%) 1,201,509 
UOB 28.05 +0.07 (0.25%) 292,300 
Keppel Corp 6.32 -0.04 (0.63%) 507,100 
Mapletree Ind Tr 2.22 0.00 (0.00%) 3,025,800 
NetLink NBN Tr 0.865 0.00 (0.00%) 124,700 
EnGro 0.89 0.00 (0.00%) 300 
First Sponsor 1.25 0.00 (0.00%)

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