Market highlights

  1. Crude palm oil producer Kencana Agri expects to report a consolidated net loss for the quarter ended Sept 30, due mainly to lower production caused by very dry weather since last year, its board warned yesterday.
  2. Delong Holdings unit Delong Steel starts major maintenance works on one of its three blast furnaces today. The 80-day process will reduce production capacity and revenue for the financial years 2016 and 2017.
  3. Geo Energy Resources has entered a deal to secure about five million tonnes of coal next year from PT Angsana Jaya Energi for sale. Geo Energy will also provide mining project- management services to AJE.
  4. Cambridge Industrial Trust completed the divestment of 2 Ubi View yesterday. The property was sold for $10.5 million, 40 per cent more than the purchase price of $7.5 million in 2006.
  5. Mencast Holdings expects a loss for the third quarter and first nine months of the year, as the protracted weakness in the oil and gas industry has dampened its offshore and engineering business.
A version of this article appeared in the print edition of The Straits Times on November 01, 2016, with the headline 'Market highlights'. Print Edition | Subscribe