Market highlights

1 The SGX S-Reit 20 index has achieved an 8.1 per cent total return this year up to May 17. The MSCI World Reit Index's return is 3.5 per cent. Manulife US Reit will list tomorrow.

2 GP Batteries warned it will report a fourth-quarter loss and a lower profit for the full year ended March 31 due to losses at its subsidiary. Unrealised foreign exchange losses and provisions for impairment of fixed assets were the factors.

3 Raffles Education has inked a deal to buy the membership interests of Santa Fe University of Art and Design which owns and operates the Sante Fe University Of Art And Design. This allows Raffles Education to expand into the United States.

4 Mainboard-listed metal recycler Union Steel will acquire three companies - Transvictory Holdings , Transvictory Winch System and Steadfast Offshore & Marine - for $15 million.

5 Over the last two days, Olam International bought back 250,000 of its shares at $1.635 to $1.65, and another 191,200 shares at $1.60 to $1.615.

A version of this article appeared in the print edition of The Straits Times on May 19, 2016, with the headline 'Market highlights'. Print Edition | Subscribe