SINGAPORE (Sept 24): Stamford Land Corp and Singapore Shipping Corp, which share a common executive chairman in Ow Chio Kiat, have received mandates from shareholders to buy back up to 10% of their total issued shares. With the mandates in hand, both companies have proceeded with the share buybacks at a steady clip.

Unless held as treasury shares, shares bought back are cancelled. The smaller share base effectively enlarges the stake owned by each existing shareholder without them actually buying more shares. This means Ow will be able to tighten his hold over both companies.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook