Tiong Seng Holdings has done share buybacks so frequently this year that it's hard not to notice. Pek Lian Guan, CEO of Tiong Seng Holdings. NextInsight file photoLast month (Sept) was a particularly busy buying period for the construction and property development company which made purchases on 10 out of 20 trading days. The Sept purchases totalled 1,789,200 shares, accounting for 37% of the 4,795,700 shares it had bought since the start of the year. The share price has been trending upward, from 22.5 cents to 36 cents. |
The purchases may be viewed within the following context:
|
Stock price |
36 c |
|
52-week range |
21 – 38 c |
|
PE (ttm) |
7.6 |
|
Market cap |
S$162 m |
|
Shares outstanding |
449.2 m |
|
Dividend |
2.2% |
|
Year-to-date return |
60% |
|
Source: Bloomberg |
|
♦ Tiong Seng's earnings this year is set to be the best in five years.
Its 1H2017 net profit of $14.3 million was only a whisker away from the $15.3 million achieved for the entire 2016.
The 1H2017 earnings exceed the performance of the full years 2013, 2014 and 2015.
♦ Its Net Asset Value, as at end-June 2017, was 58.87 cents.
| For more: TIONG SENG: 2017 shaping up to be best in 5 years |