Director buying surges, selling stays low

THE buying surged while the selling among directors remained low, based on filings on the Singapore Exchange (SGX) during the holiday-shortened week of August 11 to 14. A total of 20 companies recorded 40 purchases worth S$3.1 million versus two firms with two disposals worth S$0.26 million. The buy figures were sharply up from the previous week's four-day totals of 13 companies, 23 purchases and S$2 million. The sales, on the other hand, were slightly up from the previous week's one firm, one disposal and S$182,000.

Aside from directors, the buyback activity surged last week with 20 companies that posted 72 repurchases worth S$141.8 million. The figures were sharply up from the previous week's 10 firms, 47 trades and S$99.9 million.

There were several significant purchases last week with buybacks in Nam Cheong Limited, PACC Offshore Services, KSH Holdings, Wilmar International, Sarine Technologies and insider buys in Frencken Group and Super Group.