OREANDA-NEWS. Share buybacks are a simple strategy that sees a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once shares are bought back they will be converted into treasury shares which means that are no longer categorised as shares outstanding. Motivations for share buybacks include companies seeing stock valuations aligned with balance sheet objectives or employee compensation changes.

Share buyback information can be found on the company disclosure page on the SGX website using the Announcement category and sub category of Share Buy Back-On Market (click here).

For the month of March, there were a total of 176,045,162 shares repurchased by 31 stocks with a total consideration of S\$164.8 million. This was an increase from the total consideration of March last year, which saw a total of 15 shares purchased by 17,148,000 stocks with a total consideration of S\$99.0 million.

The five stocks with the largest consideration amount in buybacks in March were Golden Agri-Resources, Oversea-Chinese Banking Corporation, Genting Singapore PLC, Singapore Technologies Engineering and United Overseas Bank.

The table below details the specifics of the buybacks of the 31 stocks. The table is sorted by the total consideration amount in March which collates the amount of shares purchased and the purchasing price of the shares. The date of the relevant share buyback mandate is also provided in addition to the amount of shares authorized to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies issued shares that have been repurchased under the mandate are also provided.

Name Start Date Mandate Total no of shares purchased: Mar Total Consideration: Mar S\$ Cum no of shares purchased to date Percent*
GOLDEN AGRI-RESOURCES 25/04/2014 1,283,754,855 68,222,400 28,432,880.29 68,222,400 0.53
OVERSEA-CHINESE BANKING CORPORATION 24/04/2014 171,866,257 2,530,000 26,420,242.37 18,366,500 0.53
GENTING SINGAPORE PLC 22/04/2014 1,223,813,684 22,244,600 20,574,438.73 193,251,200 1.58
SINGAPORE TECHNOLOGIES ENGINEERING 24/04/2014 62,340,211 5,419,700 19,030,838.49 18,900,000 0.61
UNITED OVERSEAS BANK 24/04/2014 78,848,717 596,262 13,657,490.27 596,262 0.04
SATS 23/07/2014 22,448,073 3,913,700 12,095,255.57 19,246,700 1.71
DBS GROUP HOLDINGS 28/04/2014 24,455,964 584,200 11,323,086.39 684,200 0.03
INDOFOOD AGRI RESOURCES 29/04/2014 141,728,283 13,000,000 9,467,801.53 13,000,000 0.92
WING TAI HOLDINGS 28/10/2014 78,775,586 5,095,400 9,009,606.03 7,259,400 0.92
CHIP ENG SENG CORPORATION 25/04/2014 64,203,416 2,400,200 2,339,030.67 16,565,200 2.58
PACIFIC CENTURY REGIONAL DEVELOPMENTS 28/04/2014 304,319,210 6,820,000 2,170,090.10 303,882,200 9.99
KOH BROTHERS GROUP 30/04/2014 44,143,040 5,961,600 1,906,119.25 25,089,500 5.68
SEMBCORP MARINE 22/04/2014 208,932,201 500,000 1,475,794.33 3,900,000 0.19
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 3,878,100 1,217,431.80 13,176,100 1.30
USP GROUP 27/02/2015 67,012,023 16,939,400 1,024,438.06 16,939,400 2.53
COURTS ASIA 30/07/2014 55,573,910 2,247,700 998,109.80 18,002,200 3.24
GP INDUSTRIES 30/07/2014 49,629,448 1,288,300 853,134.14 8,855,100 1.78
SEMBCORP INDUSTRIES 24/04/2014 35,738,098 100,000 425,478.13 3,100,000 0.17
HOTUNG INVESTMENT HLDGS 29/04/2014 101,242,278 2,489,100 372,743.80 7,661,700 0.76
POH TIONG CHOON LOGISTICS 30/04/2014 21,501,800 594,700 347,242.70 594,700 0.28
HTL INTERNATIONAL HOLDINGS 28/04/2014 40,606,501 1,379,600 338,006.31 1,379,600 0.34
VIBRANT GROUP 21/08/2014 251,297,715 2,519,800 238,927.00 14,602,800 0.58
VIKING OFFSHORE AND MARINE 28/04/2014 79,467,700 2,774,000 200,314.00 4,989,000 0.63
AMARA HOLDINGS 29/04/2014 57,693,600 349,900 183,954.66 909,900 0.16
CHOSEN HOLDINGS 28/10/2014 28,391,842 1,152,800 171,931.15 1,309,500 0.46
GLOBAL PALM RESOURCES HOLDINGS 23/04/2014 41,296,800 842,600 152,903.06 4,447,600 1.08
BUND CENTER INVESTMENT 25/04/2014 151,838,772 519,000 108,490.03 1,370,000 0.05
BROADWAY INDUSTRIAL GROUP 23/04/2014 41,587,862 624,900 107,658.15 1,575,900 0.38
KARIN TECHNOLOGY HLDGS 09/10/2014 21,336,600 278,000 85,035.89 278,000 0.13
POWERMATIC DATA SYSTEMS 25/07/2014 17,400,400 452,900 83,799.03 749,900 0.43
A-SONIC AEROSPACE 26/01/2015 71,590,363 326,300 23,007.91 326,300 0.05

Source: SGX *percentage of company’s issued shares excluding treasury shares as at the date of the share buyback resolution

Golden Agri-Resources

On 25 April 2014, a share buyback resolution was passed for Golden Agri-Resources. For the month of March, Golden Agri-Resources repurchased a total number of 68,222,400 shares with a total consideration of S\$28,432,880.29.

The maximum number of shares authorized for the buyback transaction was 1,283,754,855. As of end of last week, by way of acquisition, Golden Agri-Resources had purchased a cumulative amount of 68,222,400 shares under the 25 April 2014 resolution. This represented 0.53% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 30 March 2015, the number of issued shares excluding treasury shares stood at 12,769,326,156 and the number of treasury shares held after purchase stood at 68,222,400.

Oversea-Chinese Banking Corporation

On 24 April 2014, a share buyback resolution was passed for Oversea-Chinese Banking Corporation. For the month of March, Oversea-Chinese Banking Corporation repurchased a total number of 2,530,000 shares with a total consideration of S\$26,420,242.37.

The maximum number of shares authorized for the buyback transaction was 171,866,257. As of end of last week, by way of acquisition, Oversea-Chinese Banking Corporation had purchased a cumulative amount of 18,366,500 shares under the 24 April 2014 resolution. This represented 0.53% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 31 March 2015, the number of issued shares excluding treasury shares stood at 3,982,176,522 and the number of treasury shares held after purchase stood at 10,752,797.

Genting Singapore PLC

On 22 April 2014, a share buyback resolution was passed for Genting Singapore PLC. For the month of March, Genting Singapore PLC repurchased a total number of 22,244,600 shares with a total consideration of S\$20,574,438.73.

The maximum number of shares authorized for the buyback transaction was 1,223,813,684. As of end of last week, by way of acquisition, Genting Singapore PLC had purchased a cumulative amount of 193,251,200 shares under the 22 April 2014 resolution. This represented 1.58% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 13 March 2015, the number of issued shares excluding treasury shares stood at 12,067,742,537.

Singapore Technologies Engineering

On 24 April 2014, a share buyback resolution was passed for Singapore Technologies Engineering. For the month of March, Singapore Technologies Engineering repurchased a total number of 5,419,700 shares with a total consideration of S\$19,030,838.49.

The maximum number of shares authorized for the buyback transaction was 62,340,211. As of end of last week, by way of acquisition, Singapore Technologies Engineering had purchased a cumulative amount of 18,900,000 shares under the 24 April 2014 resolution. This represented 0.61% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 12 March 2015, the number of issued shares excluding treasury shares stood at 3,103,267,872 and the number of treasury shares held after purchase stood at 18,900,000.

United Overseas Bank

On 24 April 2014, a share buyback resolution was passed for United Overseas Bank. For the month of March, United Overseas Bank repurchased a total number of 596,262 shares with a total consideration of S\$13,657,490.27.

The maximum number of shares authorized for the buyback transaction was 78,848,717. As of end of last week, by way of acquisition, United Overseas Bank had purchased a cumulative amount of 596,262 shares under the 24 April 2014 resolution. This represented 0.04% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 31 March 2015, the number of issued shares excluding treasury shares stood at 1,602,263,486 and the number of treasury shares held after purchase stood at 12,280,468.