--- title: "Singtel Tops Buybacks; Soon Hock & Engro Chairs Boost Stakes; Sanli Eyes Growth with Placement" description: "Over the five trading sessions from Nov 21 to Nov 27, institutions were net sellers of Singapore stocks, with a net outflow of S$552 million. Singtel led share buybacks, purchasing 10,870,400 shares. " type: "news" locale: "en" url: "https://longbridge.com/en/news/268007223.md" published_at: "2025-11-30T19:15:25.000Z" --- # Singtel Tops Buybacks; Soon Hock & Engro Chairs Boost Stakes; Sanli Eyes Growth with Placement > Over the five trading sessions from Nov 21 to Nov 27, institutions were net sellers of Singapore stocks, with a net outflow of S$552 million. Singtel led share buybacks, purchasing 10,870,400 shares. Engro Corporation's Chairman and CEO increased his stake to 25.01%. Soon Hock Enterprises' Executive Chairman raised his stake to 71.16%. CapitaLand China Trust's director acquired 100,000 units. Wing Tai Holdings' chairman increased his interest to 62.28%. Fidelity International raised its stake in Centurion Accommodation REIT to 9.02%. Over the five trading sessions from Nov 21 to Nov 27, institutions were net sellers of Singapore stocks, with net institutional outflow of S$552 million extending the $131 million net outflow for the previous week. **Institutional Flows**  Stocks that saw the highest net institutional outflow over the five sessions included Genting Singapore, United Overseas Bank, Keppel, DBS Group Holdings, Singapore Exchange, Oversea-Chinese Banking Corporation, Sembcorp Industries, Singtel, City Developments, and Singapore Technologies Engineering.  Meanwhile, CapitaLand Integrated Commercial Trust, Jardine Matheson Holdings, Hong Leong Asia, Wilmar International, Bumitama Agri, Mapletree Pan Asia Commercial Trust, Hongkong Land Holdings, Marco Polo Marine, NTT Data Center REIT, and Lendlease Global Commercial REIT led the net institutional inflow over the five sessions.  **Share Buybacks** For the five sessions through to Nov 27, 18 primary-listed companies conducted buybacks with a total consideration of S$92.7 million. Singtel led the consideration tally, buying back 10,870,400 of its shares at an average price of S$4.75. This took the number of shares bought back on current mandate to 16,816,000 shares representing 0.1 per cent of its outstanding shares, excluding treasury shares. **Director Transactions** Over the five trading sessions, the usual quota of 60 director interests and substantial shareholdings were filed. Across close to 30 primary-listed stocks, Directors or CEOs reported eight acquisitions and three disposals, while substantial shareholders recorded five acquisitions and no disposals. **Engro Corporation** On Nov 21, Chairman and CEO Tan Cheng Gay acquired 11,870,000 shares in a married deal at S$0.725 apiece. This increased his total interest from 15.01 per cent to 25.01 per cent. Mr Tan is a founding member of the Group and has served as Executive Director since 1973, shaping the Group’s strategic vision. Substantial shareholder Chua Thian Poh also acquired 1.18 million shares at S$0.725 apiece, increasing his total interest from 38.68 per cent to 39.67 per cent.  Back on Aug 12, Engro Corporation reported its 1HFY25 (ended Jun 30) revenue rose 25.0 per cent from 1HFY24 to S$104.5 million, driven by stronger Integral Cement and Ready-Mix Concrete sales and new Ready-Mix Concrete plants in Singapore and Malaysia, though partially offset by margin pressures and cement dumping. Net profit surged to S$8.7 million in 1HFY25 from S$20,000 in 1HFY24, supported by fair value gains, absence of one-off losses, and improved ICR profitability despite exchange losses and higher depreciation. **Soon Hock Enterprises** Soon Hock Enterprises debuted on the SGX Mainboard on Oct 16, raising S$48.1 million at S$0.58 per share. The leading industrial property developer and investor in Singapore maintains a project portfolio exceeding S$1.0 billion in Gross Development Value. The Group maintains its user-centric strategy and forward-thinking design drive strong tenant retention, reduced vacancy risk, and long-term capital appreciation. Between Nov 19 and 21, Executive Chairman Tan Yeow Khoon acquired 2,914,000 shares at S$0.595 apiece. This increased his direct interest from 70.22 per cent to 71.16 per cent. Mr Tan has over 50 years’ experience in logistics and transportation management, including leading Cogent and delivering landmark projects like The Grandstand and Singapore’s largest logistics hub. He has also developed boutique hotels and restored heritage properties through extensive modernisation. **CapitaLand China Trust** On Nov 21, CapitaLand China Trust (CLCT) non-executive independent director Chua Keng Kim acquired 100,000 units at S$0.78 apiece. This followed Mr Chua buying 700,000 units at S$0.79 between Oct 30 and Nov 18 and takes his total interest to 0.05 per cent. CLCT’s overall portfolio is aligned with China’s government priorities, focusing on domestic consumption, innovation, and new-quality productive forces. CLCT is enhancing retail assets through Asset Enhancement Initiatives to unlock higher rental value, while business parks face market pressures with cautious sentiment and potential support from government tech policies. CLCT also maintains its logistics parks remain resilient with full occupancy in most assets, strengthening the segment. **Wing Tai Holdings** Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to build his deemed interest in the company, through his spouse Helen Chow acquiring shares. From Nov 21 through to Nov 27, Mr Cheng increased his total interest in the leading real estate developer and lifestyle retailer from 62.24 per cent the company, up to 62.28 per cent. This is up from 61.64 per cent at the end of 2024.   **Centurion Accommodation REIT** On Nov 20, Fidelity International (FIL) increased its deemed substantial shareholding back above the 9.0 per cent threshold. The acquired 900,000 shares took its deemed interest from 8.97 per cent to 9.02 per cent, with an average price of S$1.13. Back on Nov 6, a disposal saw the deemed interest decline from 9.02 per cent to 8.99 per cent.  FIL’s deemed interests in Centurion Accommodation REIT (CAREIT) stem from units held by funds and/or accounts managed by one or more of FIL’s direct and indirect subsidiaries, which are fund managers. CAREIT debuted on the SGX Mainboard on Sep 25, raising S$816 million at S$0.88 per unit. **Sanli Environmental**  On Nov 24, Sanli Environmental (Sanli) proposed a placement of up to 38,492,404 new ordinary shares at S$0.260 per placement share, amounting to an aggregate consideration of up to S$10,008,025.  This follows the completion of the placement of up to 33,333,333 new ordinary shares at S$0.12 per placement share on July 10.  Listed on Catalist, the leading environmental engineering company specialises in large-scale Engineering, Procurement, and Construction (EPC) and Operations and Maintenance (O&M) projects for water, waste management, and renewable energy solutions across Asia. It maintains its competitive edge in EPC comes from leveraging deep public-sector expertise, integrated project delivery, strong vendor ties, and engineering flexibility, facilitating the delivery of cost-efficient, high-quality projects. Sanli plans to use the net proceeds from the Proposed Placement mainly for working capital, including ongoing EPC projects. Part of the funds may be allocated to reducing borrowings to strengthen the balance sheet and improve capital structure. The placement is also expected to enhance financial flexibility, expand the shareholder base, and potentially improve share liquidity. The stock has averaged more than S$1.4 million in average daily turnover in 2H25, compared to S$16,500 in 1H25.  Sanli’s order book reached a record S$781.5 million as of September 2025, providing strong revenue visibility and supporting its growth across core and emerging business segments. This includes its maiden Land Transport Authority project for the supply and installation of electrical services for Cross Island Line Phase 1 and the Cross Island Line Punggol Extension.  For its 1HFY26 (ended Sep 30), Sanli maintain that despite lower EPC revenue, the segment remained the main contributor, while O&M sustained growth, driving a 16.7 per cent rise in gross profit from 1HFY25, to S$9.3 million on higher-margin EPC projects. Following the results, Maybank Securities maintained its buy rating on the stock while reducing its target price on the stock from S$0.53 to S$0.50 on higher financing costs and slower revenue recognition, despite its margin recovery and strong orderbook.  Looking forward, Sanli aims to secure new large-scale EPC projects and capitalise on S$100 billion in opportunities for Singapore’s coastal protection and water infrastructure. The Group will continue expanding its stable O&M business by targeting long-term maintenance contracts for water and wastewater facilities. It is actively pursuing regional growth in industrial and gasification solutions, as well as scaling up its chemical manufacturing business, especially in magnesium hydroxide slurry for shipping and industrial clients. Sanli is also growing its renewable energy portfolio in Thailand, focusing on new solar projects and long-term power purchase agreements to drive recurring revenue and long-term growth. **Lincotrade & Associates** On Nov 24, Lincotrade & Associates Holdings announced it had signed a placement agreement with SAC Capital to issue up to 10 million new ordinary shares at S$0.22 each, raising as much as S$2.2 million. Proceeds will strengthen the company’s financial position and fund ongoing projects, supported by a 101.8 per cent surge in its order book to a record high of S$113 million. The placement also seeks to broaden the shareholder base, boost public float, and improve trading liquidity. Founded in 1991 in Singapore Lincotrade is a seasoned interior fitting-out specialist with in-house carpentry capabilities serving commercial, residential, and showflat projects. **Share Buybacks by Primary-listed Companies by way of Market Acquisition (Nov 21 to Nov 27)** **Number of Shares/Units Purchased**  **Buyback Consideration (incl stamp duties & clearing charges) S$**    **Avg price paid per share S$** SINGAPORE TELECOMMUNICATIONS  10,870,400 51,622,977.46 4.75 UNITED OVERSEAS BANK  823,200 27,911,517.59 33.91 SINGAPORE TECHNOLOGIES ENGINEERING  500,000 4,208,397.39 8.42 KEPPEL  300,000 3,023,537.08 10.08 SATS  688,300 2,329,636.46 3.38 RAFFLES MEDICAL GROUP  950,000 925,909.52 0.97 HONG FOK CORPORATION  1,111,100 852,250.96 0.77 17LIVE GROUP  500,000 575,852.04 1.15 CHUAN HUP HOLDINGS  1,853,600 434,383.75 0.23 THE HOUR GLASS  194,000 432,471.04 2.23 HELENS INTERNATIONAL HOLDINGS COMPANY  200,000 198,060.00 0.99 ANCHUN INTERNATIONAL HOLDINGS  168,600 68,079.41 0.40 INTRACO  84,000 31,132.37 0.37 GLOBAL INVESTMENTS  225,100 28,835.54 0.13 A-SONIC AEROSPACE  49,500 16,922.60 0.34 CSC HOLDINGS  1,000,000 15,050.52 0.02 SARINE TECHNOLOGIES  15,000 4,296.18 0.29 GHY CULTURE & MEDIA HOLDING CO 27,100 3,990.37 0.15 Total 19,559,900 92,683,300.28   ***Inside Insights is a weekly column on The Business Times,*** read ***the original version.*** ***Enjoying this read?*** - *Subscribe now to our* SGX My Gateway *newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.* - *Stay up-to-date with our **SGX Invest*** Telegram *channel.* ### Related Stocks - [Z74.SG - SingTel](https://longbridge.com/en/quote/Z74.SG.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 新电信第三季净利激增 43.5% 达 19 亿元 \| 联合早报网 | 新电信（Singtel）在 2025 财年第三季净利同比激增 43.5% 至 19 亿元，营收微升 0.9% 至 37 亿元。增长主要受 Airtel 和 AIS 等区域联营公司强劲表现推动。第三季净利包含 11 亿 5000 万元的一次过 | [Link](https://longbridge.com/en/news/275691776.md) | | 新加坡电信与 Nvidia 合作扩展 AI 基础设施，其估值分析 | 新加坡电信（SGX:Z74）已与英伟达合作建立人工智能卓越中心，增强其在数字基础设施中的角色。目前股价为 5.04 新元，过去一个月回报率为 10.53%，过去一年回报率为 54.65%。其市盈率为 12.3 倍，相较于行业平均水平显得被低 | [Link](https://longbridge.com/en/news/277247402.md) | | 新加坡电信的 Nxera 在新加坡开设数据中心，以加速人工智能的创新 | Nxera，新加坡电信集团的数据中心部门，已在新加坡开设了其最大的、能效最高的数据中心 DC Tuas，具备 58MW 的人工智能就绪容量。该设施支持高性能计算和人工智能工作负载，超过 90% 的容量已被承诺使用。DC Tuas 采用先进的 | [Link](https://longbridge.com/en/news/275428800.md) | | 约 60,000 名用户仍然受到新加坡电信旗下 Optus 的移动服务故障影响 | Optus，作为新加坡电信的子公司，经历了一次影响 22 万客户的移动服务中断，经过数小时后仍有 6 万名用户受到影响。该公司报告称，大多数用户通过重启手机恢复了服务，但中断的原因仍不明确 | [Link](https://longbridge.com/en/news/275318754.md) | | 新加坡电信的数字基础设施公司通过与英伟达合作的应用人工智能卓越中心加速主权人工智能的创新 | 新加坡电信的数字基础设施公司（Digital InfraCo）与英伟达合作推出了一个应用人工智能卓越中心（Center of Excellence, CoE），旨在促进新加坡强大的人工智能生态系统。该卓越中心将为企业和政府机构提供人工智能试 | [Link](https://longbridge.com/en/news/276851857.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.