Core Insights - Companies in Singapore are actively engaging in share buybacks, indicating management's confidence in their own valuations amidst market uncertainties [1][17] - Notable participants in the buyback activity include United Overseas Bank (UOB), Oversea-Chinese Banking Corporation (OCBC), and Sembcorp Industries, with combined repurchases exceeding S$900 million in September [1][17] United Overseas Bank (UOB) - UOB repurchased S$561 million worth of shares, representing nearly 1% of its market capitalization [3] - The bank reported total income of S$7.1 billion, a 1.8% year-on-year increase, while net profit declined by 2.9% to S$2.8 billion due to pre-emptive provisions [4] - Non-interest income rose 6.3% year-on-year to S$2.4 billion, driven by an 11% increase in fee and commission income [5] - UOB's asset quality remained stable with a non-performing loan (NPL) ratio of 1.6% [6] Oversea-Chinese Banking Corporation (OCBC) - OCBC engaged in S$349 million in share buybacks, approximately 0.5% of its market capitalization [7] - The bank's total income slightly decreased by 1% year-on-year to S$7.2 billion, with net profit falling 6% to S$3.7 billion [8] - Net interest income fell by 5% year-on-year to S$4.6 billion, while non-interest income increased by 8% to S$2.6 billion [9] - OCBC's asset quality remained strong with an NPL ratio of 0.9% [10] Sembcorp Industries - Sembcorp Industries repurchased S$59 million in shares, around 0.5% of its market capitalization [12] - The company reported an 8% year-on-year decline in revenue to S$2.9 billion, while net profit edged down 1% to S$536 million [13] - Free cash flow improved significantly to S$241 million from negative S$51 million a year ago, reflecting progress in its transformation strategy [13][14] - Sembcorp raised its interim dividend by 50% to S$0.09 per share, indicating confidence in its ongoing transformation [15]