The InsiderSino Land chairman boosts holdings in quiet holiday week

Insider trading was flat during the holiday week with nine companies recording 36 purchases worth HK$6.9 million, compared with two firms with seven disposals worth HK$1.2 million.

The figures were consistent with the previous week's five-day totals of 12 companies, 66 purchases and HK$12.7 million on the buying side and two firms, six disposals and HK$5.4 million on the selling side. There were no buy-backs by listed firms last week.

Despite the short trading week, there were several significant corporate shareholder trades with purchases in Sino Land and first-time sales in Quam, China Telecom and Great Wall Motor.

Chairman Robert Ng Chee Siong picked up where he left off in developer Sino Land in December with 150,000 shares bought on February 12 at HK$12.53 each. The trade raised his holdings to 53.14 per cent of the issued capital. The trade was made after the company announced on February 11 a 25.36 per cent drop in first-half profit to HK$3.73 billion.

Ng's recent trade bodes well for shareholders as the stock has risen an average of 7 per cent six months after he bought shares, based on 75 purchases since 2011.

Another sign that the stock is undervalued at HK$12 is buy-backs by the company in the second half of last year. The group repurchased 1.32 million shares from July to December at an average of HK$12.07 each. The counter also tends to rise whenever the company buys shares.