Market highlights

1 Brent oil traded above US$56 a barrel after Saudi Arabia said output cuts from Opec and other producers will balance the market by June, Bloomberg reported.

2 A unit of SGX-listed Sen Yue - the former PNE Micron - is buying a property, No. 3 Jalan Pesawat in Jurong, from World Logistics for $7.25 million.

3 First Reit and Lippo Malls Indonesia Retail Trust have decided to terminate a deal to buy an integrated development in Yogyakarta, Indonesia. The deal was first announced in February last year.

4 Huationg Global has entered into a memorandum of understanding with Samwoh Corporation to set up a joint venture to participate in a Building and Construction Authority tender.

5 Mainboard-listed water treatment and environmental protection firm SIIC Environment will raise $220.5 million from a share placement to Shanghai Industrial, which will get about 350 million new shares for 63 cents apiece.

A version of this article appeared in the print edition of The Straits Times on January 18, 2017, with the headline 'Market highlights'. Print Edition | Subscribe