Heavy trades in energy-related stocks

BUYING was flat while selling among directors was low for the third straight week based on Aug 18-22 filings on Singapore Exchange. Buyers outnumbered sellers with 13 companies recording 27 purchases worth S$1.4 million versus one firm with one disposal worth S$1.98 million. The number of companies and trades on the buying side were consistent with the previous week's 15 firms and 27 acquisitions. The buy value, however, was sharply down from the previous week's purchases worth S$4.05 million. On the selling side, the number of companies and trades were unchanged from the previous week. The sell value, however, was sharply up from the previous week's disposals worth S$100,000.

Besides directors, buyback activity was flat with 11 companies posting 29 repurchases worth S$8.0 million. The figures were not far off from the previous week's eight firms, 30 trades, and S$7.5 million.

There were several significant corporate shareholder trades in the week with buybacks in Chip Eng Seng Corporation and Mencast Holdings and director purchases in Centurion Corporation and Maxi-Cash Financial Services. On the funds' side, there were purchases in Frasers Centrepoint Trust and Super Group. Meanwhile, there was heavy activity in energy-related stocks with substantial shareholder trades in KS Energy Services, Linc Energy and KrisEnergy Ltd.