Stock Market activities are very low for three straight weeks, with only three firms with four disposals versus nine companies with 14 purchases from July 20 to 24, based on the fillings on Singapore Exchange. This figure is consistent with two firms with three disposals and 12 companies with 25 purchases in the previous week.
The buyback activities are also low, with only two companies post three repurchases that worth $199,800. This figure is down from five firms and 10 trades at $3.4 million on the previous week.
Institutional shareholder activities are flat, with 12 fund managers reporting filings in 11 listed companies. This figure is slightly lifted up as eight asset managers reported fillings in nine firms in the previous week.
Despite careful activities, there are still several substantial shareholder, buyback trades and significant director in last week’s local market. In terms of rarity, there are first-time trades in Pan Hong Property and Hai Leck Holdings. Meanwhile, positive activities by asset managers are seen last week in ComfortDelgro Corporation and Raffles Education.
Pan Hong Property buyback fist-time shares since its listing in September 2006. It purchased 361,000 on 24 July at 36.1 cents each. The buyback is made after the stock surged to 244% to 12 cents since April. Players should note that stock’s buyback price is one cent higher that the 35 cents IPO stock price. The company had announced a year-end loss in May worth 37.219 million renminbi that ended on 31 March 2009 versus to the worth 185.669 million renminbi worth of profit from the previous financial year.
Hai Leck Holdings’ executive chairman of the board Cheng Buck Poh had his first trade in oil & gas integrated services provider since listing in August 2008, with acquisition of 16 million shares at 27 cents on 23 July. The deal increases his holdings by 20% to 29.3% or 95.2 million shares. He also acquired interest of 38.4& or 124.8 million shares. The purchase is made after the stocks surged from 18 cents to 50% this month.
Silchester International Investors had boosted its stake in ComfortDelGro Corporation, a bus and taxi services provider with 50% or 83.7 million shares since the second-half of April. The purchase is made at an estimated price of $1.32 to $1.42 each from 22 April to 20 July. The company purchased 20.7 million shares at an estimated price of $1.42 each on 20 July, which increases its share holdings by 95 to 12.1% or 251.4 million shares.
Janus Capital Management becomes a substantial shareholder of Raffles Education Corporation, private education provider after an acquisition is made worth 16.8 million shares at 64 cents each. The trades increase its direct holdings by 14% to 5.2% or 133.9 million shares.
Finally, conflicting institutional shareholder trades in Fortune Reit with sale Stichting Pensioenfonds Zorg en Welzijn and more purchases by Schroder Investment Management Group. Stichting Pensioenfonds had its first-time sale listing in June 2006, with 6.2 million units sold at an estimated price of $3.90 each on 22 July. The trade had decreased its direct holdings by 5% to 13.8% or 113.8 million units. The company previously purchased 70.9 million units at $6.00 each from June to August 2006.