Company Watch

What's behind the aggressive share buybacks at Hong Fok?

SGX filings show that Hong Fok went into the market almost 20 times this year. ST PHOTO: DESMOND WEE
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SINGAPORE - Recently, I wrote about how share buybacks are surging as listed companies tap cash hoards amassed during the coronavirus pandemic to repurchase their undervalued stocks.

Singapore Exchange-listed companies coughed up almost $300 million during the first three months of this year - more than double the $134 million in the first quarter of 2021.

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