SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Siic Environment Holdings Ltd / Equity Bottom-Up

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In 1H21, 59 Singapore primary-listed stocks conducted buybacks with a total consideration of S$368 million, down from S$663 million in 1H20 and up from S$325 million in 1H19. Five STI constituents - OCBC, Wilmar, SGX, Singapore Tech Engineering and Keppel Corp led the 1H21 consideration tally. 
	 </li>
	<li>
In June 2021, 28 companies bought back their shares with a total consideration of S$94.0 million, up from 21 companies buying back shares in May, with a total consideration of S$91.1 million. Last month’s buyback consideration was also up from S$12.6 million in June 2020. 
	 </li>
	<li>OCBC, Wilmar, Singapore Tech Engineering, SGX and The Hour Glass led the consideration tally in June. The Hour Glass commenced a new mandate in June, as did another 13 stocks. Avarga has bought back 1.7% of its shares (excl. treasury shares) since the new mandate commenced on 23 April. </li>
</ul>
 

Total share buyback consideration for the first half of 2021 (“1H21”) amounted to S$368 million, with 59 companies conducting buybacks. The buyback consideration was down from the 81 stocks buying back S$663 million in combined consideration in 1H20, largely attributed to volatility in March 2020 (click <a href="https://www.sgx.com/research-education/market-updates/20200701-more-80-singapore-stocks-conducted-buybacks-1h20">here</a> for more). The 1H21 was up, however, from the combined S$325 million buyback consideration in 1H19. 
As discussed <a href="https://www.sgx.com/research-education/market-updates/20210701-sti-chalks-12-return-1h21-multiple-rotations">here</a>, while the STI declined 1.1% in 2Q21, this was the strongest first half of a year for the STI since 2017, with the STI generating an 11.9% total return in 1H21, compared to a 13.8% total return in 1H17. The combined AUM of the SPDR® Straits Times Index ETF and the Nikko AM Singapore STI ETF ended June 2021 at S$2.25 billion, compared to S$2.08 billion at the end of December 2020 and compared to S$1.10 billion at the end of December 2019, with the unit creations and redemptions generating S$923 million of net inflows into the two ETFs over the last 18 months.
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The 10 companies that led the buyback consideration tally for primary-listed Singapore stocks in 1H21 are tabled below. Combined, these 10 stocks made up more than 90% of the S$368 million in total buyback consideration. The S$368 million in consideration represents 0.04% of the S$902 billion total market capitalisation of all stocks listed on Singapore Exchange as of 30 June. 

<table class="table table-striped"><tbody>
<tr>
<td>
			10 Primary Listed Stocks that Conducted Buybacks in 1H21 with highest paid consideration
			</td>
			<td>
			Total Number of Shares/units Purchased in 1H21
			</td>
			<td>
			Total Buyback Consideration  (including stamp duties, clearing changes etc.) paid or payable for the shares
			</td>
			<td>
			Average Price Paid
			</td>
		</tr>
<tr>
<td>
			OVERSEA-CHINESE BANKING CORPORATION
			</td>
			<td>
			15,743,100
			</td>
			<td>
			$189,877,185
			</td>
			<td>
			$12.061
			</td>
		</tr>
<tr>
<td>
			WILMAR INTERNATIONAL
			</td>
			<td>
			14,494,600
			</td>
			<td>
			$73,714,659
			</td>
			<td>
			$5.086
			</td>
		</tr>
<tr>
<td>
			SINGAPORE EXCHANGE
			</td>
			<td>
			1,547,000
			</td>
			<td>
			$15,931,620
			</td>
			<td>
			$10.298
			</td>
		</tr>
<tr>
<td>
			SINGAPORE TECHNOLOGIES ENGINEERING
			</td>
			<td>
			3,500,000
			</td>
			<td>
			$13,483,440
			</td>
			<td>
			$3.852
			</td>
		</tr>
<tr>
<td>
			KEPPEL CORPORATION
			</td>
			<td>
			2,560,000
			</td>
			<td>
			$13,047,839
			</td>
			<td>
			$5.097
			</td>
		</tr>
<tr>
<td>
			AVARGA
			</td>
			<td>
			28,957,300
			</td>
			<td>
			$8,923,910
			</td>
			<td>
			$0.308
			</td>
		</tr>
<tr>
<td>
			GLOBAL INVESTMENTS
			</td>
			<td>
			45,685,800
			</td>
			<td>
			$6,731,187
			</td>
			<td>
			$0.147
			</td>
		</tr>
<tr>
<td>
			SIIC ENVIRONMENT HOLDINGS
			</td>
			<td>
			15,373,000
			</td>
			<td>
			$5,354,751
			</td>
			<td>
			$0.348
			</td>
		</tr>
<tr>
<td>
			OUE
			</td>
			<td>
			3,963,000
			</td>
			<td>
			$4,611,775
			</td>
			<td>
			$1.164
			</td>
		</tr>
<tr>
<td>
			SINGAPORE TELECOMMUNICATIONS
			</td>
			<td>
			1,862,446
			</td>
			<td>
			$4,507,631
			</td>
			<td>
			$2.420
			</td>
		</tr>
</tbody></table>
 Source: SGX (Data as of 30 June 2021)

 

The table below summarises the buyback considerations in June 2021. The table is sorted by the value of the total consideration amount for the month, which combines the amount of shares or units purchased and the purchasing price of the transactions. 
According to the filings, 14 of the stocks commenced new buyback mandates in June, which included The Hour Glass, MDR, Maxi-Cash Financial Services Corporation, Wing Tai Holdings, Telechoice International, JEP Holdings, First Resources, Sarine Technologies, China Sunsine Chemical Holdings, Straco Corporation, Venture Corporation, Goodland Group, SUTL Enterprise and Samurai 2k Aerosol. 

<table class="table table-striped"><tbody>
<tr>
<td>
			Primary Listed Stocks that Conducted Buybacks in June 2021
			</td>
			<td>
			Number of Shares/units Authorised for Purchase in Current Mandate
			</td>
			<td>
			Total Number of Shares/units Purchased in June 2021
			</td>
			<td>
			Total Buyback Consideration  (including stamp duties, clearing changes etc.) paid or payable for the shares
			</td>
			<td>
			Average Price Paid 
			</td>
			<td>
			Cumulative Number of Shares/units purchased in Mandate to date
			</td>
			<td>
			Percent of Outstanding Shares (Excl. Treas.) purchased in Mandate to date
			</td>
		</tr>
<tr>
<td>
			OVERSEA-CHINESE BANKING CORPORATION
			</td>
			<td>
			223,511,333
			</td>
			<td>
			4,870,000
			</td>
			<td>
			$60,234,083
			</td>
			<td>
			$12.368
			</td>
			<td>
			9,083,100
			</td>
			<td>
			0.20
			</td>
		</tr>
<tr>
<td>
			WILMAR INTERNATIONAL
			</td>
			<td>
			631,140,890
			</td>
			<td>
			2,500,000
			</td>
			<td>
			$11,638,683
			</td>
			<td>
			$4.655
			</td>
			<td>
			6,352,900
			</td>
			<td>
			0.10
			</td>
		</tr>
<tr>
<td>
			SINGAPORE TECHNOLOGIES ENGINEERING
			</td>
			<td>
			62,409,095
			</td>
			<td>
			1,300,000
			</td>
			<td>
			$5,043,468
			</td>
			<td>
			$3.880
			</td>
			<td>
			2,300,000
			</td>
			<td>
			0.07
			</td>
		</tr>
<tr>
<td>
			SINGAPORE EXCHANGE
			</td>
			<td>
			107,164,240
			</td>
			<td>
			454,800
			</td>
			<td>
			$4,869,086
			</td>
			<td>
			$10.706
			</td>
			<td>
			1,547,000
			</td>
			<td>
			0.14
			</td>
		</tr>
<tr>
<td>
			THE HOUR GLASS
			</td>
			<td>
			70,398,188
			</td>
			<td>
			2,226,700
			</td>
			<td>
			$3,156,438
			</td>
			<td>
			$1.418
			</td>
			<td>
			2,226,700
			</td>
			<td>
			0.32
			</td>
		</tr>
<tr>
<td>
			VENTURE CORPORATION
			</td>
			<td>
			14,517,478
			</td>
			<td>
			129,200
			</td>
			<td>
			$2,396,545
			</td>
			<td>
			$18.549
			</td>
			<td>
			129,200
			</td>
			<td>
			0.04
			</td>
		</tr>
<tr>
<td>
			WING TAI HOLDINGS
			</td>
			<td>
			77,049,956
			</td>
			<td>
			1,117,000
			</td>
			<td>
			$1,978,176
			</td>
			<td>
			$1.771
			</td>
			<td>
			1,117,000
			</td>
			<td>
			0.15
			</td>
		</tr>
<tr>
<td>
			AVARGA
			</td>
			<td>
			92,777,454
			</td>
			<td>
			5,145,600
			</td>
			<td>
			$1,589,644
			</td>
			<td>
			$0.309
			</td>
			<td>
			15,925,300
			</td>
			<td>
			1.72
			</td>
		</tr>
<tr>
<td>
			AEM HOLDINGS
			</td>
			<td>
			28,088,477
			</td>
			<td>
			150,000
			</td>
			<td>
			$577,479
			</td>
			<td>
			$3.850
			</td>
			<td>
			695,000
			</td>
			<td>
			0.25
			</td>
		</tr>
<tr>
<td>
			FIRST RESOURCES
			</td>
			<td>
			157,815,046
			</td>
			<td>
			433,600
			</td>
			<td>
			$560,302
			</td>
			<td>
			$1.292
			</td>
			<td>
			433,600
			</td>
			<td>
			0.03
			</td>
		</tr>
<tr>
<td>
			FOOD EMPIRE HOLDINGS
			</td>
			<td>
			53,774,969
			</td>
			<td>
			331,400
			</td>
			<td>
			$298,058
			</td>
			<td>
			$0.899
			</td>
			<td>
			456,200
			</td>
			<td>
			0.08
			</td>
		</tr>
<tr>
<td>
			SARINE TECHNOLOGIES
			</td>
			<td>
			17,491,596
			</td>
			<td>
			350,000
			</td>
			<td>
			$214,293
			</td>
			<td>
			$0.612
			</td>
			<td>
			350,000
			</td>
			<td>
			0.10
			</td>
		</tr>
<tr>
<td>
			MAXI-CASH FINANCIAL SERVICES CORPORATION
			</td>
			<td>
			79,747,771
			</td>
			<td>
			1,148,500
			</td>
			<td>
			$208,729
			</td>
			<td>
			$0.182
			</td>
			<td>
			1,148,500
			</td>
			<td>
			0.11
			</td>
		</tr>
<tr>
<td>
			GLOBAL INVESTMENTS
			</td>
			<td>
			159,744,243
			</td>
			<td>
			1,200,000
			</td>
			<td>
			$182,937
			</td>
			<td>
			$0.152
			</td>
			<td>
			14,200,000
			</td>
			<td>
			0.89
			</td>
		</tr>
<tr>
<td>
			JAPAN FOODS HOLDING
			</td>
			<td>
			17,385,720
			</td>
			<td>
			418,200
			</td>
			<td>
			$169,835
			</td>
			<td>
			$0.406
			</td>
			<td>
			518,200
			</td>
			<td>
			0.30
			</td>
		</tr>
<tr>
<td>
			MDR
			</td>
			<td>
			88,288,167
			</td>
			<td>
			1,800,800
			</td>
			<td>
			$144,798
			</td>
			<td>
			$0.080
			</td>
			<td>
			1,800,800
			</td>
			<td>
			0.20
			</td>
		</tr>
<tr>
<td>
			TELECHOICE INTERNATIONAL
			</td>
			<td>
			45,441,933
			</td>
			<td>
			770,000
			</td>
			<td>
			$138,931
			</td>
			<td>
			$0.180
			</td>
			<td>
			770,000
			</td>
			<td>
			0.17
			</td>
		</tr>
<tr>
<td>
			CHINA SUNSINE CHEMICAL HOLDINGS
			</td>
			<td>
			97,072,010
			</td>
			<td>
			225,000
			</td>
			<td>
			$116,014
			</td>
			<td>
			$0.516
			</td>
			<td>
			225,000
			</td>
			<td>
			0.02
			</td>
		</tr>
<tr>
<td>
			JEP HOLDINGS
			</td>
			<td>
			41,394,472
			</td>
			<td>
			508,400
			</td>
			<td>
			$109,187
			</td>
			<td>
			$0.215
			</td>
			<td>
			508,400
			</td>
			<td>
			0.12
			</td>
		</tr>
<tr>
<td>
			SANLI ENVIRONMENTAL
			</td>
			<td>
			18,832,912
			</td>
			<td>
			1,257,500
			</td>
			<td>
			$101,655
			</td>
			<td>
			$0.081
			</td>
			<td>
			2,225,700
			</td>
			<td>
			0.84
			</td>
		</tr>
<tr>
<td>
			STRACO CORPORATION
			</td>
			<td>
			85,509,568
			</td>
			<td>
			130,000
			</td>
			<td>
			$72,971
			</td>
			<td>
			$0.561
			</td>
			<td>
			130,000
			</td>
			<td>
			0.02
			</td>
		</tr>
<tr>
<td>
			TUAN SING HOLDINGS
			</td>
			<td>
			118,736,488
			</td>
			<td>
			90,000
			</td>
			<td>
			$42,751
			</td>
			<td>
			$0.475
			</td>
			<td>
			115,000
			</td>
			<td>
			0.01
			</td>
		</tr>
<tr>
<td>
			SUTL ENTERPRISE
			</td>
			<td>
			8,556,020
			</td>
			<td>
			80,400
			</td>
			<td>
			$40,200
			</td>
			<td>
			$0.500
			</td>
			<td>
			80,400
			</td>
			<td>
			0.09
			</td>
		</tr>
<tr>
<td>
			TREK 2000 INTERNATIONAL
			</td>
			<td>
			31,350,142
			</td>
			<td>
			233,500
			</td>
			<td>
			$30,508
			</td>
			<td>
			$0.131
			</td>
			<td>
			273,500
			</td>
			<td>
			0.09
			</td>
		</tr>
<tr>
<td>
			SAMURAI 2K AEROSOL
			</td>
			<td>
			33,461,978
			</td>
			<td>
			55,000
			</td>
			<td>
			$20,494
			</td>
			<td>
			$0.373
			</td>
			<td>
			55,000
			</td>
			<td>
			0.02
			</td>
		</tr>
<tr>
<td>
			GOODLAND GROUP
			</td>
			<td>
			36,001,992
			</td>
			<td>
			87,800
			</td>
			<td>
			$12,801
			</td>
			<td>
			$0.146
			</td>
			<td>
			87,800
			</td>
			<td>
			0.02
			</td>
		</tr>
<tr>
<td>
			GLOBAL PALM RESOURCES HOLDINGS
			</td>
			<td>
			25,053,418
			</td>
			<td>
			50,000
			</td>
			<td>
			$9,028
			</td>
			<td>
			$0.181
			</td>
			<td>
			256,000
			</td>
			<td>
			0.10
			</td>
		</tr>
<tr>
<td>
			NORDIC GROUP
			</td>
			<td>
			28,195,900
			</td>
			<td>
			21,100
			</td>
			<td>
			$7,115
			</td>
			<td>
			$0.337
			</td>
			<td>
			195,900
			</td>
			<td>
			0.05
			</td>
		</tr>
<tr>
<td>
			Total
			</td>
			<td>
			 
			</td>
			<td>
			27,084,500
			</td>
			<td>
			$93,964,207
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
		</tr>
</tbody></table>
 Source: SGX (Data as of 30 June 2021)

 

Share buyback transactions involve share issuers repurchasing some of their outstanding shares from shareholders through the open market. Once the shares are bought back, they can be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks can include employee compensation plans (such as share option schemes or employee share purchase plans) or long term capital management. Buybacks can pick up amidst market declines that are driven by broader moves on international macroeconomic developments. 
Share buyback 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 (click <a href="https://www.sgx.com/securities/company-announcements?ANNC=ANNC13">here</a>). As best practice, companies should refrain from buying back their shares during the two weeks immediately before semi-annual financial statements and one month immediately before the full-year financial statements.
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In 1H21, 59 Singapore primary-listed stocks conducted buybacks with a total consideration of S$368 million, down from S$663 million in 1H20 and up from S$325 million in 1H19. Five STI constituents - OCBC, Wilmar, SGX, Singapore Tech Engineering and Keppel Corp led the 1H21 consideration tally.  
	 
	
In June 2021, 28 companies bought back their shares with a total consideration of S$94.0 million, up from 21 companies buying back shares in May, with a total consideration of S$91.1 million. Last month’s buyback consideration was also up from S$12.6 million in June 2020.  
	 
	OCBC, Wilmar, Singapore Tech Engineering, SGX and The Hour Glass led the consideration tally in June. The Hour Glass commenced a new mandate in June, as did another 13 stocks. Avarga has bought back 1.7% of its shares (excl. treasury shares) since the new mandate commenced on 23 April. 

 

Total share buyback consideration for the first half of 2021 (“1H21”) amounted to S$368 million, with 59 companies conducting buybacks. The buyback consideration was down from the 81 stocks buying back S$663 million in combined consideration in 1H20, largely attributed to volatility in March 2020 (click here for more). The 1H21 was up, however, from the combined S$325 million buyback consideration in 1H19.  
As discussed here, while the STI declined 1.1% in 2Q21, this was the strongest first half of a year for the STI since 2017, with the STI generating an 11.9% total return in 1H21, compared to a 13.8% total return in 1H17. The combined AUM of the SPDR® Straits Times Index ETF and the Nikko AM Singapore STI ETF ended June 2021 at S$2.25 billion, compared to S$2.08 billion at the end of December 2020 and compared to S$1.10 billion at the end of December 2019, with the unit creations and redemptions generating S$923 million of net inflows into the two ETFs over the last 18 months.



      
    
    share buyback


The 10 companies that led the buyback consideration tally for primary-listed Singapore stocks in 1H21 are tabled below. Combined, these 10 stocks made up more than 90% of the S$368 million in total buyback consideration. The S$368 million in consideration represents 0.04% of the S$902 billion total market capitalisation of all stocks listed on Singapore Exchange as of 30 June. 




			10 Primary Listed Stocks that Conducted Buybacks in 1H21 with highest paid consideration
			
			
			Total Number of Shares/units Purchased in 1H21
			
			
			Total Buyback Consideration  (including stamp duties, clearing changes etc.) paid or payable for the shares
			
			
			Average Price Paid
			
		


			OVERSEA-CHINESE BANKING CORPORATION
			
			
			15,743,100
			
			
			$189,877,185
			
			
			$12.061
			
		


			WILMAR INTERNATIONAL
			
			
			14,494,600
			
			
			$73,714,659
			
			
			$5.086
			
		


			SINGAPORE EXCHANGE
			
			
			1,547,000
			
			
			$15,931,620
			
			
			$10.298
			
		


			SINGAPORE TECHNOLOGIES ENGINEERING
			
			
			3,500,000
			
			
			$13,483,440
			
			
			$3.852
			
		


			KEPPEL CORPORATION
			
			
			2,560,000
			
			
			$13,047,839
			
			
			$5.097
			
		


			AVARGA
			
			
			28,957,300
			
			
			$8,923,910
			
			
			$0.308
			
		


			GLOBAL INVESTMENTS
			
			
			45,685,800
			
			
			$6,731,187
			
			
			$0.147
			
		


			SIIC ENVIRONMENT HOLDINGS
			
			
			15,373,000
			
			
			$5,354,751
			
			
			$0.348
			
		


			OUE
			
			
			3,963,000
			
			
			$4,611,775
			
			
			$1.164
			
		


			SINGAPORE TELECOMMUNICATIONS
			
			
			1,862,446
			
			
			$4,507,631
			
			
			$2.420
			
		

 Source: SGX (Data as of 30 June 2021)

 

The table below summarises the buyback considerations in June 2021. The table is sorted by the value of the total consideration amount for the month, which combines the amount of shares or units purchased and the purchasing price of the transactions.  
According to the filings, 14 of the stocks commenced new buyback mandates in June, which included The Hour Glass, MDR, Maxi-Cash Financial Services Corporation, Wing Tai Holdings, Telechoice International, JEP Holdings, First Resources, Sarine Technologies, China Sunsine Chemical Holdings, Straco Corporation, Venture Corporation, Goodland Group, SUTL Enterprise and Samurai 2k Aerosol. 




			Primary Listed Stocks that Conducted Buybacks in June 2021
			
			
			Number of Shares/units Authorised for Purchase in Current Mandate
			
			
			Total Number of Shares/units Purchased in June 2021
			
			
			Total Buyback Consideration  (including stamp duties, clearing changes etc.) paid or payable for the shares
			
			
			Average Price Paid 
			
			
			Cumulative Number of Shares/units purchased in Mandate to date
			
			
			Percent of Outstanding Shares (Excl. Treas.) purchased in Mandate to date
			
		


			OVERSEA-CHINESE BANKING CORPORATION
			
			
			223,511,333
			
			
			4,870,000
			
			
			$60,234,083
			
			
			$12.368
			
			
			9,083,100
			
			
			0.20
			
		


			WILMAR INTERNATIONAL
			
			
			631,140,890
			
			
			2,500,000
			
			
			$11,638,683
			
			
			$4.655
			
			
			6,352,900
			
			
			0.10
			
		


			SINGAPORE TECHNOLOGIES ENGINEERING
			
			
			62,409,095
			
			
			1,300,000
			
			
			$5,043,468
			
			
			$3.880
			
			
			2,300,000
			
			
			0.07
			
		


			SINGAPORE EXCHANGE
			
			
			107,164,240
			
			
			454,800
			
			
			$4,869,086
			
			
			$10.706
			
			
			1,547,000
			
			
			0.14
			
		


			THE HOUR GLASS
			
			
			70,398,188
			
			
			2,226,700
			
			
			$3,156,438
			
			
			$1.418
			
			
			2,226,700
			
			
			0.32
			
		


			VENTURE CORPORATION
			
			
			14,517,478
			
			
			129,200
			
			
			$2,396,545
			
			
			$18.549
			
			
			129,200
			
			
			0.04
			
		


			WING TAI HOLDINGS
			
			
			77,049,956
			
			
			1,117,000
			
			
			$1,978,176
			
			
			$1.771
			
			
			1,117,000
			
			
			0.15
			
		


			AVARGA
			
			
			92,777,454
			
			
			5,145,600
			
			
			$1,589,644
			
			
			$0.309
			
			
			15,925,300
			
			
			1.72
			
		


			AEM HOLDINGS
			
			
			28,088,477
			
			
			150,000
			
			
			$577,479
			
			
			$3.850
			
			
			695,000
			
			
			0.25
			
		


			FIRST RESOURCES
			
			
			157,815,046
			
			
			433,600
			
			
			$560,302
			
			
			$1.292
			
			
			433,600
			
			
			0.03
			
		


			FOOD EMPIRE HOLDINGS
			
			
			53,774,969
			
			
			331,400
			
			
			$298,058
			
			
			$0.899
			
			
			456,200
			
			
			0.08
			
		


			SARINE TECHNOLOGIES
			
			
			17,491,596
			
			
			350,000
			
			
			$214,293
			
			
			$0.612
			
			
			350,000
			
			
			0.10
			
		


			MAXI-CASH FINANCIAL SERVICES CORPORATION
			
			
			79,747,771
			
			
			1,148,500
			
			
			$208,729
			
			
			$0.182
			
			
			1,148,500
			
			
			0.11
			
		


			GLOBAL INVESTMENTS
			
			
			159,744,243
			
			
			1,200,000
			
			
			$182,937
			
			
			$0.152
			
			
			14,200,000
			
			
			0.89
			
		


			JAPAN FOODS HOLDING
			
			
			17,385,720
			
			
			418,200
			
			
			$169,835
			
			
			$0.406
			
			
			518,200
			
			
			0.30
			
		


			MDR
			
			
			88,288,167
			
			
			1,800,800
			
			
			$144,798
			
			
			$0.080
			
			
			1,800,800
			
			
			0.20
			
		


			TELECHOICE INTERNATIONAL
			
			
			45,441,933
			
			
			770,000
			
			
			$138,931
			
			
			$0.180
			
			
			770,000
			
			
			0.17
			
		


			CHINA SUNSINE CHEMICAL HOLDINGS
			
			
			97,072,010
			
			
			225,000
			
			
			$116,014
			
			
			$0.516
			
			
			225,000
			
			
			0.02
			
		


			JEP HOLDINGS
			
			
			41,394,472
			
			
			508,400
			
			
			$109,187
			
			
			$0.215
			
			
			508,400
			
			
			0.12
			
		


			SANLI ENVIRONMENTAL
			
			
			18,832,912
			
			
			1,257,500
			
			
			$101,655
			
			
			$0.081
			
			
			2,225,700
			
			
			0.84
			
		


			STRACO CORPORATION
			
			
			85,509,568
			
			
			130,000
			
			
			$72,971
			
			
			$0.561
			
			
			130,000
			
			
			0.02
			
		


			TUAN SING HOLDINGS
			
			
			118,736,488
			
			
			90,000
			
			
			$42,751
			
			
			$0.475
			
			
			115,000
			
			
			0.01
			
		


			SUTL ENTERPRISE
			
			
			8,556,020
			
			
			80,400
			
			
			$40,200
			
			
			$0.500
			
			
			80,400
			
			
			0.09
			
		


			TREK 2000 INTERNATIONAL
			
			
			31,350,142
			
			
			233,500
			
			
			$30,508
			
			
			$0.131
			
			
			273,500
			
			
			0.09
			
		


			SAMURAI 2K AEROSOL
			
			
			33,461,978
			
			
			55,000
			
			
			$20,494
			
			
			$0.373
			
			
			55,000
			
			
			0.02
			
		


			GOODLAND GROUP
			
			
			36,001,992
			
			
			87,800
			
			
			$12,801
			
			
			$0.146
			
			
			87,800
			
			
			0.02
			
		


			GLOBAL PALM RESOURCES HOLDINGS
			
			
			25,053,418
			
			
			50,000
			
			
			$9,028
			
			
			$0.181
			
			
			256,000
			
			
			0.10
			
		


			NORDIC GROUP
			
			
			28,195,900
			
			
			21,100
			
			
			$7,115
			
			
			$0.337
			
			
			195,900
			
			
			0.05
			
		


			Total
			
			
			 
			
			
			27,084,500
			
			
			$93,964,207
			
			
			 
			
			
			 
			
			
			 
			
		

 Source: SGX (Data as of 30 June 2021)

 

Share buyback transactions involve share issuers repurchasing some of their outstanding shares from shareholders through the open market. Once the shares are bought back, they can be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks can include employee compensation plans (such as share option schemes or employee share purchase plans) or long term capital management. Buybacks can pick up amidst market declines that are driven by broader moves on international macroeconomic developments.  
Share buyback 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 (click here). As best practice, companies should refrain from buying back their shares during the two weeks immediately before semi-annual financial statements and one month immediately before the full-year financial statements.



28 Companies Buy Shares in June, 1H21 Buyback Consideration at S$368M

Singapore

SUTL Enterprise develops and operates marinas, and also provides marina consultancy, marina development and yacht chartering services. It owns the prestigious ONE°15 Marina at Sentosa Cove in Singapore and operates ONE15 Luxury Yachting, which offers yacht chartering services at the club.

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SUTL Enterprise (SUTL SP)

28 Companies Buy Shares in June, 1H21 Buyback Consideration at S$368M

In 1H21, 59 Singapore primary-listed stocks conducted buybacks with a total consideration of S$368 million, down from S$663 million in 1H20 and...

Singapore Exchange Ltd (SGX)

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