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Shares buyback is a way for a listed company to reward its shareholders by reducing the number of floating shares, thereby potentially increasing the earnings per share.
It is also a way for companies to buy back their shares when they feel that the shares are undervalued. This could be used as a signal for investors to take note.
We have identified 3 Singapore listed companies with significant shares buyback that you should take note of.
#1 Global Investments Limited
GIL’s strategy is to actively manage and grow its assets. It aims to seek investments in assets that
will generate steady income and appreciation in capital to deliver regular dividends and achieve capital
growth.
Its investment policy is to make investments in a portfolio of assets in different sectors through various means including direct asset ownership, swaps, credit default swaps, debts, warrants, options, convertibles, preference shares, equity, guarantees of assets and performance, securities lending and participating loan agreements provided that it will not make any direct investments in real estate and commodities.
As of its latest annual report results, GIL’s revenue decreased by 27.7% to $ 18.8 million. Its net profit decreased by 27.5% to $14.4 million.
The group’s operating cash flow came in at $10.3 million and its cash level is at a healthy level of $26.9 million.
For Q2 2021, GLI has purchased 22,000 shares off the market with total transaction value of approximately $33,000. Share prices purchased range from $0.142 - $0.154 per share.
GLI last closed at $0.15, which valued the company at a P/E ratio of 17.72 and dividend yield of 5.19%.
#2 The Hour Glass Ltd
The Hour Glass Limited is a specialty luxury watch retail group. The Hour Glass' has multi-brand and standalone boutiques on Singapore, Kuala Lumpur, Bangkok, Phuket, Ho Chi Minh, Hanoi, Hong Kong, Tokyo, Sydney, Melbourne and Brisbane. It works as the official retailer for a number of luxury watch
As of its latest annual report, THG’s revenue was roughly the same at $ 742.9 million. Its net profit increased by a remarkable 9.0% to $ 84.5 million.
Free cash flow came in at $89.3 million. Cash balance of the company as a result increased to a healthy level of $ 247.8 million.
For Q2 2021, THG has purchased 22,000 shares off the market with total transaction value of approximately $31,500. Share prices purchased range from $0.935 - $1.23 per share.
Mewah last closed at $1.52, which valued the company at a P/E ratio of 12.89, and no dividends were announced.
#3 Tuan Sing Holdings Ltd
TUAN SING is a fast-growing, regional investment holding company with interests mainly in property development, property investment and hotel ownership.
As of its latest annual report, Tuan Sing’s revenue decreased by 36.6% to $196.8 million. Its net profit increased however by an astounding 79.1% to $58.5 million.
Free cash flow came in at $63.5 million and cash balance is at an extremely healthy level of $198.4 million.
For Q2 2021, THG has purchased 115,000 shares off the market with total transaction value of approximately $53,000. Share prices purchased range from $0.32 - $0.42 per share.
Tuan Sing last closed at $0.59, which valued the company at a P/E ratio of 11.76 and a dividend yield of 1.03%
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