Market highlights

1. Far East Group said Swee Builders has exercised an option to purchase 5 Third Lok Yang Road, a service centre and storage facility which Far East was looking to divest, and has paid a deposit of $166,920.

2. Oxley Holdings has incorporated a new subsidiary in Singapore, Oxley Topaz, with an initial issued and paid-up share capital of $1.The move is in line with the firm's expansion plans, Oxley said yesterday.

3. AA Group has entered into an agreement with Bosetech Corp to dispose its stake in unit Allied Advantage, which makes speaker parts, for $7,535,551.17. Allied Advantage also owns an iron ore trading business.

4. SIIC Environment Holdings' unit, Longjiang Environmental Protection Group, has acquired wastewater treatment and technical services firm Jiaohe Jiaxin Water Co for 95 million yuan (S$19.4 million).

5. Oil and gas maintenance solutions firm PEC said its net profit for the year ended June 30 fell 37.7 per cent to $13.9 million.

A version of this article appeared in the print edition of The Straits Times on August 29, 2017, with the headline 'Market highlights'. Print Edition | Subscribe