Insider trades

Insider trades: Asia Insider notes that buying picked up strongly though insider selling remained low for the week ending 25 Sep.

Purchases: 20 companies recorded 47 purchases worth $10.63m, vs.19 firms, 40 transactions worth $4.3m the week prior.

Selling: One disposal worth $0.09m, vs. nil sales the previous week.

Buybacks: 30 companies made 117 repurchases worth $77.6m, vs. 32 corporates, 106 repurchases worth $182.4m.

Notable transactions:

Mencast: First buyback since Dec ’14, with 50,000 shares transacted at an average of $0.20, on the back of a 44% drop in share price since Jul. CEO Glenndle Sim had previously acquired 69,000 shares in Jun at $0.32 each.

Technics Oil & Gas: Co-founder and executive director David Tay bought for a first since Feb ’13, with 1.5m shares purchased at 64¢ each, on the back of a 14% drop in share price since Jun. His previous acquisitions included 0.5m shares at 38¢ in Feb ’13 and 1.59m shares at $0.89 between May-Dec ’11, and a net disposal of 62,000 shares in 2008 at 38¢.

Hong Fok: Joint chairman and joint managing director Cheong Sim Eng continued buying with 98,000 shares purchased at $0.68, lower than the previous acquisition of 456,000 shares from Jan to Mar this year at an average of $0.84, and Sep to Dec ’14 at average of $0.96.

Sunningdale Tech: Executive chairman Koh Boon Hwee made continued from his purchase in 8 Sep of 467,000 shares (maiden on-market trade), further picking up another 270,000 shares at average of 15.9¢. The trades were made on the back of a 31% drop in share price since May.