Diamond technologies firm Sarine Technologies on Sunday reported a net loss of US$1.4 million for the first quarter ended March 31, compared to a net profit of US$3.1 million a year ago. The mainboard-listed company attributed the performance to reduced manufacturing activities in Q1 2019, as midstream customers experienced working capital issues due to Indian banks tightening credit policies and calling for some of the already extended credit to be returned by the Indian fiscal year's end of March 31.

Keppel Corp has snagged a contract to build two offshore wind farm substations worth more than S$150 million for Danish renewable energy company Orsted, the conglomerate said on Sunday. Keppel Fels, a subsidiary of Keppel Offshore & Marine, will provide detailed engineering, procurement, construction, testing and commissioning for the substations, while certain electrical components will be furnished by Orsted.

Oil futures edged down on Monday, pressured by fears over global economic growth amid a standoff in US-China trade talks. Brent crude futures were at US$70.49 a barrel at 0013 GMT, down 12 cents, or 0.2 per cent, from their last close. Brent ended the previous session little changed. US West Texas Intermediate crude futures were at US$61.31 per barrel, down 27 cents, or 0.4 per cent, from their previous settlement. WTI closed the last session steady on the day.

The US and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law, and Beijing said it would not swallow any "bitter fruit" that harmed its interests. The trade war between the world's top two economies escalated on Friday, with the US hiking tariffs on US$200 billion worth of Chinese goods, after President Donald Trump said Beijing "broke the deal" by reneging on earlier commitments made during months of negotiations.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR