Purchases down, sales and buybacks go up
THERE was less buying and more selling among directors in the last week of February. Singapore Exchange filings in that week showed nine companies recording 17 purchases with a value of $2.29 million and four firms with 11 disposals worth $240,000. The buy figures were sharply lower than the previous week's 15 companies, 26 purchases and $8.76 million. Saleswere up from the previous week's three firms, three disposals and $220,000.
While the buying by directors fell, buyback activity rose for the second straight week with 10 companies that posted 41 repurchases worth $11.3 million. The figures were up from the previous week's nine firms, 30 trades and $5.3 million. Among the companies that bought back last week were Chip Eng Seng Corporation, Keong Hong Holdings and XinRen Aluminum Holdings. Aside from the buybacks, there were insider purchases in Heeton Holdings, Matex International and Serial System. On the funds' front, Schroders boosted its stake in Mapletree Commercial Trust after the counter fell by 23 per cent while The Capital Group Companies acquired shares of KrisEnergy Ltd at sharply lower than its initial filing price in November last year.
Chip Eng Seng Corporation
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