Sembcorp firms boost buyback value

Published Sun, Jan 19, 2014 · 10:00 PM
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DIRECTOR activity was flat with 19 companies recording 38 trades worth $4.4 million, based on Jan 13-17 Singapore Exchange filings. The number of firms and trades were not far off from the previous week's 16 companies and 36 transactions but the turnover was sharply down from that week's $10.5 million. Buyers outnumbered sellers with 14 firms recording 34 purchases worth $3.95 million versus three companies with four disposals worth $0.41 million.

While buying by directors was flat, the buyback activity among listed firms fell with only seven firms posting 17 repurchases worth $9.25 million. The number of companies and trades were down from the previous week's 11 companies and 23 transactions, but the value was up sharply from the previous week's turnover of $3.95 million.

The huge buyback value was due mainly to repurchases by marine engineering firm Sembcorp Marine and industrial site and infrastructure services provider Sembcorp Industries worth $4.2 million and $2.9 million, respectively.

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