Market highlights

  1. Water-treatment firm Hyflux will build three desalination plants in Saudi Arabia at a total cost of 687 million riyal (S$260 million). Construction will start once the contracts have been finalised.
  2. Engineering firm Ley Choon reversed a loss to turn in net profit of $8.8 million for the quarter ended Dec 31. Revenue was 10 per cent lower at $27.6 million.
  3. A CapitaLand unit has acquired a further 20 per cent of CapitaLand-Thien Duc for US$17.9 million (S$25.4 million) cash, bringing the total stake owned by CapitaLand to 50 per cent. CTD owns a mixed-use project in Ho Chi Minh City.
  4. Dr Albert Hong will step down as executive chairman of RSP Architects Planners & Engineers on March 1 to become non-executive chairman.
  5. SGX-listed Ziwo, which produces yarn used in major- brand sportswear, expects to report a net loss for the fourth quarter ended Dec 31 due to a general decrease in demand.
A version of this article appeared in the print edition of The Straits Times on February 14, 2017, with the headline 'Market highlights'. Print Edition | Subscribe