There was a revival in stock prices since the global collapse in prices during March. However, the recovery in stock prices were not even. Some industries such as Technology recovered faster than other traditional sectors such as engineering.
As a result, some companies took the opportunity to employ share buybacks. Share buybacks are usually administered as the companies feel that the stock prices are undervalued. The management of the companies usually have a better understanding of the finances and future results. Buybacks could be regarded as a confidence booster to the company’s future results.
We have scouted the SGX market and have identified 3 companies for your considerations.
#1 Singapore Shipping Corporation Ltd
Singapore Shipping Corporation Limited (SSC) is well-established shipping group in Asia and listed on the main board of SGX. Its businesses include ship owning, ship management, shipping agency & Terminal Operations, and Logistics Services. SSC owns 6 vessels and charters it for the international market.