Market highlights

1. Sats intends to acquire a 10 per cent stake in Evergreen Sky Catering Corp (ESCC) from Malaysia Airlines for RM100 million (S$32.3 million). Sats will own 25 per cent of ESCC after the acquisition.

2. Foreland Fabrictech Holdings will take legal action against former executive chairman Tsoi Kin Chit over possible breaches of securities laws. The firm earlier lodged a complaint with the Commercial Affairs Department against Mr Tsoi.

3. Food Empire Holdings' 51 per cent-owned unit Hallyu Ventures will extend an unsecured loan of 11.06 billion Korean won (S$13.5 million) to Caffebene, one of South Korea's largest coffee chains.

4. KrisEnergy shareholders approved resolutions at an extraordinary general meeting yesterday that will allow the company to proceed with its debt restructuring plan.

5. Swee Hong is selling its freehold property at 190A and 190C Choa Chu Kang Avenue 1 to Hong Ee Corp for $3.1 million. The site comprises two strata-titled units above and below each other, which form an intermediate unit.

A version of this article appeared in the print edition of The Straits Times on December 28, 2016, with the headline 'Market highlights'. Print Edition | Subscribe