Soup restaurant buy back

the Share Purchase Mandate on 22nd July, with their main aims stated:
- Restore investors’ confidence and to protect existing shareholders
- Enhance their NTA, if shares are bought below NTA
- Facilitate the return of surplus cash reserves over and above the Group’s working capital requirements to the Shareholders
- Buffer short-term share price volatility and off-set the effects of short-term share price speculation

The weighted average share price for the buybacks is S$0.186.
Is mgmt signalling the company is undervalued? The highest price they bought back at is S$0.225.

Soup Restaurant 15% shareholder discount

For current 0.13 stock price, 2000 shares is $260. So if yearly consume $173, will get 10% return. Fair deal! 

Soup Restaurant group also include Dian Xiao Er, profitable company, but operating cost increasing, same problem facing by almost all Singapore companies, especially serving industry.

ROE 22%, Net margin 7~12%, dividend yield >4%.