Market highlights

1 The takeover bid for United Engineers (UE) by a consortium led by Perennial Real Estate and Yanlord Land is "fair and reasonable", the independent financial adviser to UE has said, The Business Times reported.

2 Tuan Sing said chief executive officer William Liem and his wife are buying a unit at Sennet Residence for $2,269,800. The price is after a 3 per cent preferential discount offered to directors, employees and associates.

3 Resources Prima said all 96 employees of coal hauling subsidiary PT Energy Indonesia Resources have accepted a voluntary severance package costing US$126,000 (S$172,000), net of tax, The Business Times reported.

4 Global Palm Resources bought back 31,500 shares at 37.5 cents each for a total outlay of $11,881.

5 Rickmers Trust Management has concluded the sale of all 14 vessels owned by the trust. Unsecured creditors will receive a total distribution of US$28.9 million (S$39.5 million), a recovery of 12.1 per cent to note holders.

A version of this article appeared in the print edition of The Straits Times on August 16, 2017, with the headline 'Market highlights'. Print Edition | Subscribe