Before this, the company on Oct 3 and Oct 4 bought back 263,800 shares and 263,000 shares at 48 cents each respectively. On Oct 5 and 6, it again bought back 142,300 shares and 135,200 shares at 48.5 cents each respectively.
Sin Heng Heavy Machinery, which focuses on cranes and other equipment used for construction, has been stepping up its share buybacks since September, a month after it reported much improved earnings amid an overall construction industry recovery.
The most recent buyback was on Oct 9 and 10 when it acquired 261,800 and 124,000 shares respectively, at 49 cents each. This brings the total number bought back under the current mandate to more than 1.92 million shares, equivalent to 1.696% of the company.
