Singapore’s biggest bank DBS Group (DBSM.SI) will be in focus today after reporting a better-than-expected 67% rise in fourth-quarter net profit to $493 million.

The benchmark Straits Times Index (.FTSTI) fell 0.72% to close at 2,744.98 points yesterday. US stocks fell last night, briefly dropping below the 10,000 level, on concerns about escalating sovereign debt problems in Europe and an unexpected rise in US jobless claims.

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DBS (DBSM.SI) said fourth-quarter net profit rose 67% to $493 million, beating forecasts, as strong fee income and higher loans offset a 43% jump in bad-debt charges.

Starhub has reported operating revenue of $550 million for the fourth quarter of 2009 and $2.15 billion for the full year. Net profit after tax decreased 15% for the quarter but increased 3% for the full year recording $74 million and $320 million respectively.

SATS, the provider of airport services and food solutions, says group revenue grew 79% to $434.3 million in the third quarter of FY2009-10, due to the consolidation of Singapore Food Industries (SFI) which amounted to $199.6 million.

Keppel Corp (KPLM.SI) and Ezra Holdings  (EZRA.SI) have set up a joint venture with two other firms to supply a floating production, storage and offloading (FPSO) vessel to Premier Oil in Vietnam in a deal worth up to US$1 billion ($1.4 billion).

Singapore Exchange (SGXL.SI) unit Sicom will launch an over-the-counter clearing facility for rubber trading in China by the second quarter of this year.

Swiber Holdings (SWIB SP), the provider of logistics services to the oil and gas industry says it and its partners won a US$117.5 million ($166 million) contract from an unidentified customer in South Asia.

Think Environmental subsidiary Industrial Power Technology (IPT) has won a $17.55 million turnkey contract for a rice husk fired biomass power plant in Thailand for Surin Bio Power.

China Hongxing Sports says it won RMB 896 million ($185 million) worth of orders at the 2010 Autumn/Winter Collection trade fair, held in Xiamen in mid-January 2010.

Otto Marine, the offshore marine company which specialises in building complex offshore support vessels and ship chartering, says it raised gross proceeds of about $95 million via the placement of 220 million new ordinary shares at 43.2 cents each.

CapitaMalls Asia says it has entered into a deal with Chengdu Vanke Property Co. to acquire Meili Mall in Chengdu, China, for RMB459.85 million ($94.6 million). Including fitting out works, CapitaMalls Asia’s estimated total expenditure on the mall is RMB520 million.