Directors' sales up sharply, purchases down

BUYING fell while the selling among directors rose based on filings on the Singapore Exchange in the third week of May. A total of 15 companies recorded 24 purchases worth S$3.98 million versus four firms with seven disposals worth S$7.42 million. The buy figures were down from the previous week's 18 companies, 31 purchases and S$5.9 million. The sales, on the other hand, were sharply up from the previous week's two firms, two disposals and S$0.54 million.

While the buying by directors fell last week, the buyback activity rose for the third straight week with 17 companies posting 52 repurchases worth S$17.6 million. The number of firms and trades were up from the previous week's 14 companies and 41 repurchases. The value, however, was down from the previous week's S$30.6 million.

Hi-P International, Lian Beng Group and TeleChoice International repurchased shares last week following the fall in their share prices. On the directors' side, there were insider buys in GK Goh Holdings, CosmoSteel Holdings and MSM International and disposals in Singapore Reinsurance, CDW Holding, DBS Group and Genting Singapore.