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Market Round-Up: What did you miss?

A quick look at all the market moving events and big financial news of the day. From Fragrance Group property purchase to Micro-Mechanics profit surge, get your daily dose of all the latest in the world of business right here.

SGX
SGX Logo. Reuters
  • Singapore stocks edged higher on Monday, led by gains in lenders such as DBS Group Holdings, but mood remained somber as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centers.
  • The Straits Times Index gained 0.25 percent or 8 points to end at 3,267.
  • Property developer CapitaLand announced a slew of management changes, which will take effect from January 1, 2018. Jason Leow was appointed as chief operating officer of CapitaLand from current designation of CEO at CapitaLand Mall Asia.
  • Fragrance Group said it has acquired the Townhouse Hotel in United Kingdom for 12.5 million sterling.
  • Precision tools maker Micro-Mechanics Holdings reported a 61 percent jump in fourth-quarter net profit, sending its shares up as much as 6.2 percent.
  • Property developer GuocoLand rose 0.9 percent after reporting a six-fold jump in fourth-quarter net profit, driven by higher residential sales and progressive revenue recognition from residential projects in Singapore.
  • Singapore Technologies Engineering said it acquired selected rig repair assets from World Marine of Mississippi in the United States for about S$34 million. The stock was up 1 percent.
  • Ocean Sky International declined 6.2 percent while Tiong Seng Holdings was unchanged after unit TSky Development agreed to buy Sloane Court Hotel for S$80.5 million.

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