INSTITUTIONS continued to be net buyers of Singapore stocks over the four trading sessions through to Mar 27, with S$211 million of net institutional inflow, as 22 primary-listed companies conducted buybacks with a total consideration of S$8.4 million.
Olam Group : VC2 0% bought back a total of 2,333,100 shares at S$1.05 per share over the four sessions. Its buybacks through to Mar 27, represent around 0.70 per cent of its total outstanding shares (excluding treasury shares).
Digital Core Reit Management also continued to buy back units of Digital Core Reit : DCRU 0% over three of the four sessions.
This brought the total units bought back on the current mandate to around 1.28 per cent of the outstanding units.
Leading the net institutional inflow over the four sessions were DBS : D05 0%, Singtel : Z74 0%, OCBC : O39 0%, Yangzijiang Shipbuilding (Holdings) : BS6 0%, Keppel : BN4 0%, Singapore Technologies Engineering : S63 0%, CapitaLand Ascendas Reit : A17U 0%, Sembcorp Industries : U96 0%, Suntec Reit : T82U 0% and Venture Corporation : V03 0%.
Meanwhile, Singapore Exchange : S68 0%, Singapore Airlines : C6L 0%, CapitaLand Integrated Commercial Trust : C38U 0%, Jardine Cycle & Carriage : C07 0%, Mapletree Logistics Trust : M44U 0%, CapitaLand Investment : 9CI 0%, Mapletree Industrial Trust : ME8U 0%, City Developments : C09 0%, Frasers Centrepoint Trust : J69U 0%, and Keppel Reit : K71U 0%led the net institutional outflow over the five sessions.
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The four trading sessions saw close to 60 changes to director interests and substantial shareholdings filed for close to 30 primary-listed stocks.
Directors or CEOs filed 19 acquisitions, and two disposals, while substantial shareholders filed four acquisitions and one disposal.
Raffles Medical Group
Between Mar 21 and 25, Raffles Medical Group : BSL 0% executive chairman Loo Choon Yong acquired 600,000 shares at an average price of S$1.03 per share. It increased his total interest from 53.79 per cent to 53.83 per cent. This has followed on from his acquisition of 14.3 million shares between Feb 27 and Mar 20.
Union Steel Holdings
Between Mar 25 and 26, Union Steel Holdings : ZB9 0% executive director Ang Yew Chye bought 930,000 shares at S$0.47 per share. With a consideration of S$437,085, this increased his direct interest in the multi-business investment holding company from 11.18 to 11.97 per cent. As a co-founder of the group Ang has more than 30 years of experience in the scrap metal recycling business.
PSC Corporation
Between Mar 21 and 25, PSC Corporation : DM0 0% executive chairman Sam Goi Seng Hui purchased 239,600 shares at an average price of S$0.357 per share. With a consideration of S$85,441 this increased his direct interest from 30.66 per cent to 30.70 per cent. Goi has been gradually increasing this direct interest from 30.41 per cent at the end of February and 30.02 per cent prior to December 2023.
JB Foods
On Mar 25, JB Foods : BEW 0% executive director Goh Lee Beng bought 120,900 shares at S$0.484 per share. With a consideration of S$58,535, the acquisition increased her total interest in the provider of premium cocoa ingredient products from 47.53 to 47.57 per cent. This followed her buying 214,500 shares between Mar 14 and 19 at S$0.48 per share; 13,900 shares at S$0.48 per share on Mar 7, and 191,500 shares at S$0.49 per share on Mar 11.
The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research.
