Director sales up for 2nd week

AFTER posting heavy purchases in May, a reverse trend among directors is emerging as their buying slowed and disposals rose for the second straight week, according to filings on Singapore Exchange in the week of June 9-13. A total of 13 companies recorded 22 purchases worth $890,000 compared with 13 firms with 28 disposals worth $16.3 million. The buy figures were down from the previous week's 14 companies, 24 purchases and $3.8 million. The sales, on the other hand, were sharply up from the previous week's eight firms, 14 disposals, and $1.9 million.

Aside from directors, the buyback activity fell with eight companies posting 22 repurchases worth $9.2 million. The number of firms and trades were slightly down from the previous week's nine companies and 23 repurchases. The value, however, was sharply down from the previous week's turnover of $12.6 million.

With the surge in the selling last week, the bulk of the significant trades were disposals with insider sales in Anchun International, Gallant Venture, UMS Holdings, M1 Ltd, SBS Transit, StarHub Ltd and QAF Ltd. Also negative last week was AIA Group with sales in Mapletree Commercial Trust, Mapletree Industrial Trust and Starhill Global Reit.