Market highlights

1 Yahoo! has scrapped its long-planned spin-off of shares in Alibaba after pressure from investors worried over tax risks. The portal will instead explore a spin-off of assets and liabilities other than the Alibaba stake, Bloomberg reported.

2 Olam intends to repurchase the bonds it issued in October and November 2009. The US$500 million convertible bonds with a coupon rate of 6 per cent are due in 2016.

3 Cosco (Singapore) has warned that the fourth quarter ending Dec 31 will show a significant net loss, owing to depressed oil prices, the slump in the shipbuilding market and the languid dry-bulk shipping market.

4 China Fishery said a Cayman Islands court has appointed Mr Fergal Thomas Power of KPMG Hong Kong, and Mr Kris Beighton and Mr Alexander Lawson of KPMG Cayman Islands as provisional liquidators.

5 Boustead Singapore says a deal to buy an Indonesian energy asset will depend on approval by Triangle Energy (Global)'s shareholders. TEG has also received a better offer from a firm called PT Enso Asia.

A version of this article appeared in the print edition of The Straits Times on December 10, 2015, with the headline 'Market highlights'. Print Edition | Subscribe