| Share buyback | Date of purchase | No. of shares purchased | Value/share (S$) | Total value (S$) |
| Yangzijiang Shipbuilding | 16 Sept | 11,896,000 | 0.535 - 0.555 | ~ 6.5 m |
| 15 Sept | 6,000,000 | 0.555 | ~3.3 m | |
DBS Holdings |
17 Sept | 100,000 | 16.06-16.70 | ~1.6 m |
| 16 Sept | 100,000 | 15.94 – 16.46 | ~1.6 m | |
| 15 Sept | 100,000 | 16.46 – 16.78 | ~1.6 m | |
| SIA | 15 Sept | 100,000 | 15.0138 | ~1.5 m |
| 16 Sept | 100,000 | 14.9156 | ~1.5 m | |
| Swiber |
15 Sept | 119,000 | 1.2302 | ~146,000 |
| 17 Sept | 251,000 | 1.1573 | ~291,000 | |
| Tai Sin | 16 Sept | 1,000,000 | 0.20 | ~ 200,000 |
| CSE |
16 Sept | 558,000 | 0.87304 | ~ 488,000 |
| 17 Sept | 315,000 | 0.87173 | ~275,000 | |
| Tat Hong | 16 Sept | 100,000 | 1.106 | ~110,000 |
| 15 Sept | 200,000 | 1.179 | ~236,000 | |
| HLN Technologies | 17 Sept | 940,000 | 0.15 | ~141,000 |
Wing Tai |
17 Sept | 100,000 | 1.1373 | ~113,000 |
| Longcheer Holdings | 17 Sept | 429,000 | 0.30-0.305 | ~129,000 |
Peter Lynch
TWO QUOTES from one of the best investors of all time, Peter Lynch, may be inspiring during these tough times.
The first: “There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.”
The second: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
Dr Ng Cher Yew bought 1 m shares of Oceanus for around $222,000 in all. Photo by Sim Kih
Most value investors would readily agree with both quotes. However, as to the question of whether they apply right now at the current market level, it’s a case of ‘buyer beware’ and ‘to each his own’.
In the last couple of days, as the market continued to slump, corporate insiders and corporates themselves sprang into action to mop up some of the shares.
Our compilation in the two tables on this page capture the bigger transactions. Not included are dozens more purchases on a smaller scale.
Of particular note is Yangzijiang Shipbuilding’s massive share buyback. We have a recent article on the business outlook of Yangzijiang and why it can afford to buy massively.
Such actions are usually, but not always, a positive sign. In particular, insider buying in large spadefuls is, most people would agree, a positive sign. The tricky part is that the level at which nsider buying takes place is no indication of the support for the stock price, which can continue to head south – very deep south.
If it’s any consolation, CEOs and directors know the strength of the fundamentals of their company. The rest of the market can be whipsawed by rumour and sentiment. The following quote from a recent news story illustrates the point:
``This is a market that's not looking at fundamentals,'' said Quincy Krosby, who helps manage US$380 billion as chief investment strategist at the Hartford in Hartford, Connecticut. ``It's going back and forth based on rumor and headlines and it has temporarily divorced itself from fundamental analysis.”
And here’s one more Peter Lynch nugget of wisdom: “When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.”
| Buyer; Stock | Date of purchase | No. of shares purchased | Value/share (S$) | Total value (S$) |
| Seow Bao Shuen, director, Enviro Hub | 17 Sept | 1,050,000 | 0.17286 | ~181,000 |
| Edenlia Pte Ltd, SC Global | 16 Sept | 7,788,710 | 0.75 | ~5.8 m |
| David Tsang, director, SC Global | 16 Sept | 500,000 | 0.75 | ~375,000 |
| Zhao Libin, director, China Essence | 16 Sept | 500,000 | 0.382 | ~191,000 |
| Heng Long Holdings | 15 Sept | 487,000 | 0.2662 | ~126,000 |
| Wee Ee Chao, chairman, UOB Kayhian | 16 Sept | 126,000 | 1.33 | ~167,000 |
| 15 Sept | 292,000 | 1.28 | ~373,000 | |
| Dr Ng Cher Yew, chairman, Oceanus | 15 Sept | 1,000,000 | 0.21-0.23 | ~ 222,000 |
| Tan Tin Nam, director, Yongnam Holdings) | 15 Sept | 2,500,000 | 0.115 | ~ 287,500 |
| Lexdale International, Noble Group | 12 Sept | 1,000,000 | 1.4908 | ~ 1.5 m |
| 16 Sept | 500,000 | 1.3677 | ~683,000 | |
| Maxtop Management, Thai Beverage | 17 Sept | 5,000,000 | 0.225 | ~337,000 |
