Market highlights

1. It is a tough time for the world's biggest makers of luxury goods.   Ferrari's stock since its IPO is down 20 per cent. In the past week, Prada posted its lowest profit in five years and Burberry had weak fourth-quarter sales.

2. United States-based casino operator Red Rock Resorts plans to raise as much as US$569 million (S$774 million) in an IPO on Nasdaq.

3. SGX-listed HLH Group is investing around US$10 million in a 400ha agricultural food processing park in Cambodia, which is expected to be fully operational next year.

4. SGX-listed PSL Holdings says that a sale and purchase agreement with Mr Neo Cheng Soon and Ms Koh Lai Hong to buy 70 per cent of NBN Scaffolding has been terminated.

5. SGX-listed GKE has completed the sale of its 30 Pioneer Road property to Viva Industrial Reit for $45 million. GKE plans to expand its adjacent property. Viva has now acquired its eighth asset.

A version of this article appeared in the print edition of The Straits Times on April 16, 2016, with the headline 'Market highlights'. Print Edition | Subscribe