Market highlights

1. Sembcorp Industries is issuing bonds worth $200 million at a 3.7 per cent yield. The bonds are due in June 2020. Net proceeds will be used to refinance debts or perpetual securities and/or to finance working capital.

2. Fragrance Group has completed the purchase of a Tasmania property holding the Conservatorium of Music, three brick buildings, a warehouse, three cottages and a communications tower. It can be redeveloped for office, retail, hotel and residential uses.

3. Wong Fong Industries, which provides land transport engineering solutions, has tied up with European principals Europress Group and Bucher Industries to supply a wider range of waste management products and solutions in Singapore and Myanmar.

4. OCBC yesterday bought back 200,000 shares at $10.65 each. It paid a total of $2.13 million for the purchase. The bank has bought back 5.6 million shares since April 28.

5. The head of SinoPac, a major Taiwanese bank, has been detained on suspicion of granting NT$5 billion (S$228 million) in illegal loans to an "offshore company with no real operations".

A version of this article appeared in the print edition of The Straits Times on June 20, 2017, with the headline 'Market highlights'. Print Edition | Subscribe