Weekly Inflows: SIA, DBS, Raffles Medical & Heeton directors raise stakes
During the five trading sessions, 70 director interests and substantial shareholdings were filed for more than 30 primary-listed stocks. Directors or CEOs filed three acquisitions and no disposals, while substantial shareholders filed seven acquisitions and seven disposals.
1. $SIA Engineering(S59.SI)$
Between Nov 6 and 7, SIA Engineering Company (SIAEC) bought back 290,100 shares at an average price of S$2.46 per share.
This took the number of shares acquired on the current mandate to 3.14 million shares, or 0.29 per cent of the issued shares (excluding treasury shares) as at the beginning of the mandate in July. This has already surpassed the 0.22% of issued shares (excluding treasury shares) bought back in its FY2024 (ended Mar 31).
2. $DBS Group Holdings(D05.SI)$
As outlined above, DBS launched a new S$3 billion share buyback programme on Nov 7. Shares will be acquired on the open market and subsequently cancelled. The buybacks will also be executed at the discretion of management and will depend on market conditions.
This marks the first instance where repurchased DBS shares will be cancelled. The programme is in addition to regular buybacks for employee share plans. The last time DBS conducted a buyback for its employee share plans was in March 2020, at an average price of S$16.97.
Based on the DBS balance sheet as at September 2024, the programme will reduce the common equity tier 1 ratio by about 0.8 percentage points. The group highlighted that the initiative is part of a broader series of capital management strategies.
3. $Raffles Medical(BSL.SI)$
On Oct 30, Raffles Medical Group executive chairman Loo Choon Yong acquired one million shares at an average price of S$0.8885 per share.
This increased his total interest in the leading integrated private healthcare provider in Asia from 55.36% to 55.41%. This followed a similar transaction on Oct 29. Since February, Dr Loo has gradually increased his total interest in the stock from 53.02%.
4. $Heeton(5DP.SI)$
On Nov 1, Heeton Holdings alternate director Toh Gap Seng acquired 100,000 shares at an average price of S$0.25 per share. This increased his total interest from 5.86% to 5.88%.
He was appointed as alternate director to executive chairman Toh Giap Eng in January 2022. With over 30 years of experience in property development and investment, he currently serves as the executive director of Hong Heng.
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