Market highlights

1 Oil prices slipped yesterday as the market focused on oversupply and fading hopes of a production freeze. Brent was down 15 US cents at US$48.90 a barrel.

2 ITE Electric said chairman Aw Cheok Huat has agreed to sell all his shares at 15.065 cents apiece. The buyer is Mr Wong Siu Fai, chairman of Hong Kong Sunrise Holdings.

3 Creative Technology turned in a profit of US$2.7 million (S$3.6 million) for the financial year ended June 30, reversing a loss. Revenue was down 15 per cent to US$84.6 million.

4 Sabana Reit, an industrial Reit, has entered into a new financing agreement with banks, including HSBC and United Overseas Bank, for facilities of up to $108 million.

5 Frasers Hospitality Reit has received a ruling from the Inland Revenue Authority of Singapore relating to its $100 million issue of perpetual securities. Noteholders can enjoy tax concessions and exemptions.

A version of this article appeared in the print edition of The Straits Times on August 26, 2016, with the headline 'Market highlights'. Print Edition | Subscribe