Buying rebounds while there were no sales by directors

BUYERS got back on track after posting a fall in their purchase activity for the first time in the past four weeks with 33 companies that recorded 61 purchases worth S$4.98 million. The figures are based on filings to the Singapore Exchange during the holiday-shortened week of Sept 7 to 10. The number of firms and value were up from the previous week's five-day totals of 29 companies and S$2.76 million while the number of purchases was not far off from the previous week's 68 acquisitions. The rebound in the buying was more pronounced as there were no sales by directors last week.

While buying by directors rose, buyback activity among listed firms was flat with 27 companies that posted 99 repurchases worth S$57.3 million. The number of firms and trades were consistent with the previous week's 30 companies and 122 transactions. Turnover, however, was sharply down from the previous week's buybacks worth S$92.8 million.

Despite the short trading week, there were several significant corporate shareholder purchases with the buying particularly high in the property sector and penny stocks. There were buybacks in CapitaLand, Del Monte Pacific and Wing Tai Holdings and insider buys in Sapphire Corporation, Hafary Holdings, Kori Holdings, Nordic Group, Geo Energy Resources, Cache Logistics Trust and IREIT Global.

CapitaLand

Property developer and hotel operator CapitaLand bought back for the first time since December 2013 with 1.797 million shares purchased from Sept 9 to 10 at an average of S$2.83 each. The trades were made on the back of the 19 per cent drop in the share price since July from S$3.49. The group had acquired 5.55 million shares in December 2013 at an average of S$3 each.

Also positive this quarter is BlackRock Inc with a purchase-related filing on Aug 19 of 1.6 million shares at S$3.04 each, which increased its deemed holdings to 256.706 million shares or 6.01 per cent of the issued capital. The group previously reported a purchase-related filing on July 2 of 8.8 million shares at S$3.54 each.

The stock closed at S$2.80 on Thursday.

Del Monte Pacific

Food and beverage products manufacturer Del Monte Pacific Limited recorded its first buyback since May 2013 with 226,000 shares purchased on Sept 10 at 29.4 Singapore cents each. The trade was made on the back of the 37 per cent drop in the share price since April from 46.5 Singapore cents. The counter is also down since January 2014 from 59.5 Singapore cents.

Also positive this year is chief executive officer and managing director Joselito Campos, Jr with 5.37 million shares purchased from March 26 to 27 at an average of 35 Singapore cents each. The trades increased his deemed holdings to 1.303 billion shares or 67.04 per cent of the issued capital. He also has direct interest of 7.621 million shares or 0.39 per cent.

The counter closed at 29.5 cents on Thursday.

Wing Tai Holdings

Property investor and developer Wing Tai Holdings resumed buying back at lower than its acquisition price in March with 372,000 shares purchased from Sept 7 to 10 at an average of S$1.63 each. The trades, which accounted for 10 per cent of the stock's trading volume, were made on the back of the 16 per cent drop in the share price since July from S$1.94. The counter is also down since April from S$2.11.

The group previously acquired 5.1 million shares from March 11 to 24 at an average of S$1.77 each.

The stock closed at S$1.63 on Thursday.

Sapphire Corporation

Chief executive officer Teh Wing Kwan resumed buying shares of mining services firm Sapphire Corporation at a lower price with 550,000 shares purchased on Sept 10 at eight Singapore cents each. The trade increased his direct holdings by 5 per cent to 12.391 million shares or 1.53 per cent of the issued capital. The acquisition was made on the back of the 30 per cent drop in the share price since April from 11.3 Singapore cents. He previously acquired 250,000 shares on Jan 15 at 10.8 Singapore cents each. The purchases since January are Mr Teh's first on-market trades since his appointment in October 2013.

The counter closed at eight Singapore cents on Thursday.

Hafary Holdings

Non-executive director Low See Ching recorded his first on-market trade in building materials distributor and wholesaler Hafary Holdings since November 2010 with an initial 114,000 shares (direct interest) purchased on Sept 9 at 18 Singapore cents each. The shares bought represented 0.03 per cent of the issued capital. He also has deemed interest of 69.553 million shares or 16.21 per cent. The acquisition was made on the back of the 23 per cent drop in the share price since November 2014 from 23.5 Singapore cents. Despite the fall in the share price, the stock is still up since April 2011 from 8.5 Singapore cents.

The counter closed at 18.3 Singapore cents on Thursday.

Kori Holdings

Chairman and founder Nobuaki Kori recorded the first on-market trade by a director in engineering and infrastructural construction services provider Kori Holdings since the stock was listed in December 2012 on Catalist with 40,000 shares purchased on Sept 8 at 43 Singapore cents each. The trade increased his direct holdings to 7.584 million shares or 7.65 per cent of the issued capital.

The acquisition was made on the back of the 16 per cent drop in the share price since November 2013 from 51 Singapore cents. Despite the fall in the share price, the chairman's purchase price was higher than the IPO price of 25 Singapore cents.

The counter closed at 44.5 Singapore cents on Thursday.

Nordic Group

Chairman Chang Yeh Hong resumed buying shares of marine automation systems integration solutions provider Nordic Group at lower than his acquisition price earlier this year with one million shares purchased on Sept 9 at 15.5 Singapore cents each. The trade increased his direct holdings by 91 per cent to 2.1 million shares or 0.53 per cent of the issued capital. He also has deemed interest of 205.406 million shares or 51.35 per cent.

The acquisition was made on the back of the 23 per cent drop in the share price since the last week of April from 20 Singapore cents. He previously acquired an initial 1.1 million shares on April 23 at 19.2 Singapore cents each.

Investors should note that CEO Dorcas Teo Ling Ling purchased 850,000 shares on June 18 at 18.4 Singapore cents each, which boosted her direct stake to 31.380 million shares or 7.85 per cent. She previously acquired 530,000 shares on April 21 at 18.8 Singapore cents each.

The counter closed at 16.2 Singapore cents on Thursday.

Geo Energy Resources

Executive chairman Charles Antonny Melati and independent director Ong Beng Chye acquired shares of coal producer and mining contractor Geo Energy Resources Limited with a combined 2.16 million shares purchased from Sept 8 to 9 at an average of 13.7 Singapore cents each. The trades were made after the stock plunged by 33 per cent from 20.5 Singapore cents on Aug 13.

Mr Melati recorded his first on-market trade since the stock was listed in October 2012 with 1.95 million shares purchased on Sept 8 at 13.8 Singapore cents each. The trade increased his direct holdings to 93.345 million shares or 7.88 per cent of the issued capital. His purchase price was sharply lower than the IPO price of 32.5 Singapore cents.

Mr Ong, on the other hand, recorded his first on-market trade since August 2014 with 210,000 shares purchased on Sept 9 at 12 Singapore cents each. The trade boosted his direct stake by 111 per cent to 400,000 shares or 0.03 per cent.

The counter closed at 12 Singapore cents on Thursday.

Cache Logistics Trust

Chairman and non-executive director Lim How Teck recorded his first on-market trade in real estate investment trust Cache Logistics Trust since the unit trust was listed in April 2010 with 25,000 units purchased on Sept 8 at 96 Singapore cents each. The trade increased his direct holdings by 25 per cent to 125,000 units or 0.02 per cent of the issued capital.

The acquisition was made on the back of the 20 per cent drop in the unit price since April from S$1.20. The counter is also down since May 2013 from S$1.44.

The unit trust closed at 99 Singapore cents on Thursday.

IREIT Global

Independent non-executive director Kelvin Tan Wee Peng recorded the first on-market trades by a director in real estate investment trust IREIT Global since the unit trust was listed in August 2014 with 10,000 units purchased from Sept 8 to 10 at an average of 63.6 Singapore cents each. The trades increased his direct holdings to 300,000 units or 0.05 per cent of the issued capital.

The purchases were made on the back of the 18 per cent drop in the unit price since January from 77.9 Singapore cents. Mr Tan's purchase price was lower than the IPO price of 88 Singapore cents.

The unit trust closed at 64.5 Singapore cents on Thursday.