Director trades up despite holiday-shortened week
DIRECTOR activity rose based on filings on the exchange during the holiday-shortened week of March 30 to April 2 with 16 companies that recorded 34 purchases worth S$9.6 million versus three firms with four disposals worth S$2.37 million. The number of firms and trades on the buying side were not far off from the previous week's five-day totals of 18 companies and 40 purchases. The buy value, on the other hand, was sharply up from the previous week's acquisitions worth S$3.1 million. On the negative side, the sales were up from the previous week's two firms, two disposals and S$0.19 million.
While the trading by directors rose last week, the buyback activity fell with only 11 companies that posted 43 repurchases worth S$16.5 million. The figures were sharply down from the previous week's five-day totals of 17 firms, 63 trades and S$47.2 million.
There were several significant corporate shareholder trades last week with buybacks in Chip Eng Seng Corporation and rare insider buys in Del Monte Pacific and Declout Limited. On the negative side, there were rare disposals by directors in Geo Energy Resources, Sunningdale Tech and OSIM International. Aside from the insider sale in OSIM International, The Capital Group Companies ceased to be a substantial shareholder of the health lifestyle products manufacturer last week. Lastly, Matthews Capital lowered its stake in Ascendas Reit to below 5 per cent of the issued capital.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Adani in talks with banks to borrow US$600 million for gas unit
It is time to put idle cash back into the market
China’s CICC demotes senior bankers, cuts pay to slash costs
China’s Sinopec in talks for gas offtake, stake in Canada’s Cedar LNG
Chinese tariffs could leave cognac makers with too much brandy
Citi promotes Damien Tan to corporate banking head for Singapore