Market highlights

1 ARA Asset Management will set up a fund to invest in a Chinese commercial property worth 20 billion yuan (S$4.1 billion). The asset is an integrated commercial block in Pudong New District, Shanghai.

2 SGX-listed Tritech Group's wholly owned unit Tritech Engineering & Testing (Singapore) has won three contracts worth about $23 million in total from the Land Transport Authority.

3 The Land Transport Authority has awarded a $325 million contract to Lum Chang Building Contractors. It includes a new platform and concourse at Tanah Merah MRT station and is targeted to be completed in 2024.

4 Supermarket chain Sheng Siong's net profit rose 8.2 per cent to $15.7 million while revenue was 1.2 per cent higher at $202.4 million for the quarter ended Sept 30.

5 Boustead Projects has reached a settlement with a customer over a dispute disclosed on March 31, 2015. It related to a warehouse construction undertaken here in 2008.

A version of this article appeared in the print edition of The Straits Times on October 27, 2016, with the headline 'Market highlights'. Print Edition | Subscribe