Market highlights

1 Global Premium Hotels chairman Koh Wee Meng is making a bid for the firm at 36.5 cents a share. The price is final. Global Premium owns the Fragrance chain of hotels.

2 EnGro said about 1.37 million yuan (S$281,000) was misappropriated by an employee of its China units, Shanghai S3 Building Materials. The employee has been suspended with no pay and a police report made.

3 Axcelasia, which listed in November 2015 on Catalist, has decided to re-allocate $2 million of IPO proceeds meant for the expansion of the firm's business to be used for working capital instead.

4 A civil suit of US$3.63 million (S$5.1 million) has been brought against Serial System, chairman and CEO Derek Goh and two others by some shareholders of Taiwanese firm Bull Will, which is 29 per cent owned by Serial System.

5 Keppel Corp bought back 703,400 of its shares at prices between $6.81 and $6.94 apiece for a total of $4.8 million.

A version of this article appeared in the print edition of The Straits Times on February 24, 2017, with the headline 'Market highlights'. Print Edition | Subscribe