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The market strategist at SGX summated the SBB activities of SGX listed companies, an opportune time since activities will be winding down soon as year end approaches.
Out of the top10 companies, Seatrium and SATS are on the list. To recap, both companies had undergone profitability issues and also called for deeply discounted billion-dollar rights at least once (twice for Seatrium in previous life as SembcorpMarine in consecutive years) in the prior 3-4years. Both spent a total of ~60mil YTD to buy back their shares. These 2 companies still hold a lot of debt on their balance sheet and for Seatrium's case, a lot of working capital needs as they work their expanding project book. Would their common shareholder Temasek had some sort of factor?
It would be interesting to see in a few years if the SBB had been a brilliant move, or not.
CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13
https://www.businesstimes.com.sg/compani...ill-nov-13
Out of the top10 companies, Seatrium and SATS are on the list. To recap, both companies had undergone profitability issues and also called for deeply discounted billion-dollar rights at least once (twice for Seatrium in previous life as SembcorpMarine in consecutive years) in the prior 3-4years. Both spent a total of ~60mil YTD to buy back their shares. These 2 companies still hold a lot of debt on their balance sheet and for Seatrium's case, a lot of working capital needs as they work their expanding project book. Would their common shareholder Temasek had some sort of factor?
It would be interesting to see in a few years if the SBB had been a brilliant move, or not.
CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13
https://www.businesstimes.com.sg/compani...ill-nov-13