Market highlights

1. Sembcorp Marine and its unit Jurong Shipyard are defendants in a suit filed by EIG Management against Brazil's Petrobras. Sembcorp said the claim is baseless and they will rigorously contest the claim.

2. Regal International Group has entered into an agreement on the proposed sale of its wholly-owned precision business division under Hisaka International so as to focus exclusively on its property development business.

3. China Essence, which is on the SGX watch list, has asked for an extension beyond the usual 24 months to apply to be removed from the list. It said it has entered into a non-binding agreement with a third party to put a rescue plan into place.

4. Nico Steel, which has chalked up three years of pre-tax losses, has warned that this is one criterion to be included on the SGX watchlist.

5. CapitaLand Commercial Trust disclosed that Blackrock and The PNC Financial Services Group are no longer substantial shareholders of the trust.

A version of this article appeared in the print edition of The Straits Times on June 03, 2016, with the headline 'Market highlights'. Print Edition | Subscribe