Director buying, selling values down sharply

THE buying was high for the second straight week while the selling among directors remained low based on filings on the Singapore Exchange from April 17 to April 21. Buyers dominated the trading with 16 companies that recorded 52 purchases worth S$1.72 million versus two firms with three disposals worth S$0.21 million. The number of companies and trades on the buying side were consistent with the previous week's four-day totals of 14 firms and 45 purchases. The buy value, however, was sharply down from the previous week's acquisitions worth S$48 million. On the selling side, the number of companies and trades were not far off from the previous week's one firm and three disposals while the sell value was sharply down from the previous week's disposals worth S$1.88 million.

Aside from directors, the buyback activity remained high last week with nine companies that posted 34 repurchases worth S$3.35 million. The number of firms and trades were up from the previous week's six companies and 14 transactions. The value, however, was sharply down from the previous week's turnover of S$6.46 million.

There were several significant acquisitions last week with initial buybacks in Declout Limited and Boustead Projects and rare repurchases in Centurion Corporation. Meanwhile, there were conflicting trades in CDW Holding with buybacks by the company versus a sale by a substantial shareholder. On the directors' side, there were insider buys in KTL Global and GCCP Resources following the sharp fall in their share prices. On the flip side, there were director purchases in Sinjia Land and Asian Pay Television Trust following the sharp rebound in their share prices.