Market highlights

1 A unit of Lum Chang Holdings has secured a tender to build a 14-storey industrial building in Boon Keng Road. Including asset enhancement works to three existing buildings, the contract is worth $60.8 million.

2 FSL Trust Management chief executive Alan Hatton has been honoured with the Young Person of the Year 2016 Award at the ninth Seatrade Maritime Awards Asia.

3 Lian Beng Group has agreed to acquire shops in Ang Mo Kio, Bukit Merah, Clementi and Toa Payoh for $151 million. It hopes to derive rental income from leasing out these shops to buttress its earnings.

4 Phillip Capital Group, an Asian financial services provider which has some US$30 billion (S$40 billion) in assets under custody and management, has appointed BNP Paribas Securities Services to service its Singapore-based funds.

5 Alibaba Pictures Group yesterday warned that it expects to post a net loss of between 400 million yuan (S$81 million) and 450 million yuan for the six months to June 30, mainly due to expenses incurred to attract people to use its online ticketing platform.

A version of this article appeared in the print edition of The Straits Times on July 23, 2016, with the headline 'Market highlights'. Print Edition | Subscribe