Singapore companies look to buybacks to utilize cash

Article Abstract:

Changes made to Singapore's Companies Act in Nov 1998 have allowed companies to purchase their own stock. The practice has allowed such firms as Singapore Telecommunications Ltd, Singapore Press Holdings Ltd and Development Bank of Singapore Ltd to make use of their excess cash. Analysts agree that reinvesting cash assets back into the company is a good way of managing cash flow and capital and is better than keeping the money on the balance sheet.

Commercial Banks, Commercial Banking, Government domestic functions, Telecommunications Equipment, Communications Equipment Manufacturing, Financial Systems & Controls, Laws, regulations and rules, Telecommunications systems, Economic policy, Investments, Economic development, Corporations, Corporation law, Singapore Telecommunications Ltd., Telecommunication systems, DBS Bank Ltd.

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Online buyback questioned

Article Abstract:

Singapore Press Holdings Ltd. is facing criticism for offering to repurchase shares in its SPH AsiaOne Ltd. subsidiary that it had sold 17 months earlier for twice as much. The 30 Singapore cent/share buyback price is more than three times of the company's net-tangible-asset-value-per-share of 9.2 Singapore cents. Minority shareholders now have to vote to approve the proposal; Singapore Press Holdings is abstaining from the vote.

Telegraph & other communications, Electronic Publishing, All Other Publishers, PRINTING AND PUBLISHING, Use of Funds, Online services, Internet services, Securities, SPH AsiaOne Private Ltd.

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