Companies in Singapore spent $230 million buying back shares in Jan, Feb

[CityFarmer]

A sign of an undervalued market?

Companies in Singapore spent $230 million buying back shares in Jan, Feb

SINGAPORE (March 3): Singapore-listed companies spent a total of $229.5 million buying back their own shares in the first two months of 2015.

The bulk of the buybacks - $132.3 million - was in February, according to data from the Singapore Exchange.

Of the 35 companies that bought their own shares between January and February, Technics Oil & Gas (Financial Dashboard) spent the most - it paid $91.6 million for 1.6 million shares, representing 0.71% of its share capital.

Next was ST Engineering, which paid $38.7 million for 11.4 million shares, or 0.43% of its issued shares.

Other companies that actively mopped up their owns shares on the open market included Genting Singapore (Financial Dashboard), OCBC ( Financial Dashboard) and Hyflux ( Financial Dashboard).
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http://www.theedgemarkets.com/sg/article...es-jan-feb

[weijian]

While I do not have charts and seasonal trends to back me up, I would like to attribute it simply to companies buying back to stock up as treasury shares for their pending stock options and share grants for FY2014. They will need to keep their outstanding shares count in check since their bonuses for next year most probably depend on EPS...Valuation will be the last thing on their mind..haha

[thor666]

I believe likewise, with o&g counters doing a bulk of the buyback. Imo, the sti is probably fairly valued as the index itself is skewed towards 3 major banks, o&g and property developers.

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