Singapore’s benchmark Straits Times Index (.FTSTI) fell 0.7% to end at 2,762.14 yesterday. US stocks closed higher last night after Federal Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low, promising more cheap money to investors.

City Developments (CTDM.SI) posted a 77% rise in fourth quarter net profit of $177 million, beating the consensus estimate, on higher profits from property development. The company said it achieved its highest full year revenue and second highest profit since its inception in 1963.

Palm oil producer Indofood Agri Resources (IFAR.SI) reported a near doubling of net profit for the financial year ended December to 1.53 trillion rupiah ($232 million), helped by lower operating costs and net gains on foreign currency.

Hyflux has reported a 27% increase in profit attributable to shareholders of $75 million for the 12 months ended 31 December 2009 on the back of FY2009 group revenue of $524.8 million.

Koon Holdings, the civil engineering group specialising in reclamation and shore protection, says its subsidiary has been awarded a US$160 million ($226 million) contract for the turnkey design and construction of Sao Bien International Port in Ba Ria, Vung Tau, Vietnam.

ARA Asset Management, the manager of Fortune Real Estate Investment Trust (Fortune REIT), says it is seeking a dual primary listing of Fortune REIT’s units on the Main Board of The Stock Exchange of Hong Kong (SEHK) by way of introduction.

Property developers: Las Vegas Sands (LVS.N), the world’s second most valuable casino firm, said on Wednesday it will open the first phase of its US$5.5 billion ($7.8 billion)Singapore casino on April 27, 2010, earlier than what many people were expecting. Analysts say the opening of the property will boost visitor arrivals and have positive spinoffs for nearby developments.

Petra Foods, the manufacturer and supplier of cocoa ingredients and branded consumer confectionery products, reported net profit attributable to shareholders for the fourth quarter ended 31 December (4Q09) jumped 234.5% to US$9.4 million ($13.3 million) on the back of a strong sales performance.

Banyan Tree Holdings, the manager and developer of resorts, hotels and spas, posted a 87% increase in operating profit to $20.4 million for the fourth quarter (4Q09), boosted by revenue growth from hotels and resorts in Thailand coupled with group-wide cost-saving measures.

Design Studio Furniture Manufacturer delivered revenue of $113.9 million for the full year ending 31st December 2009 (FY2009), a gain of more than 53.2% over that of FY2008. The group also recorded a net profit after tax of $25.4 million for FY2009, a rise of 98.5% over FY2008.

Coal miner Straits Asia Resources announced a 7% increase in full-year net profit to US$133.5 million ($188 million) for FY2009.

China Zaino International, the manufacturer of branded backpacks and luggages, recorded a y-o-y decrease of 10.1% and 30.1% in revenue and net profit attributable to shareholders to RMB2 billion ($413 million) and RMB288.1 million respectively in FY2009.

Oceanus Group, the world’s largest land-based producer of abalone, says it posted a 91% rise in net profit from operations to RMB339.3 million ($70 million) for the full-year ending Dec 31, 2009.

Property group Heeton Holdings reported a 144% surge in net profit to $17.2 million for the financial year ended 31 December 2009 (FY2009), compared to $7 million a year ago. Revenue rose 27% to $55.5 million, from $43.6 million recorded in FY08, boosted by a strong showing from the group’s property development business.

Li Heng Chemical Fibre Technologies, one of China’s leading manufacturers of high-end nylon fibres, says it posted revenue of RMB2 billion ($413 million) for the financial performance for the full year ended 31 December 2009 (FY09), 46% lower than in FY08.

Kingsmen Creatives, the communications design and production group, says turnover jumped 27% to $242 million for the financial year ended 31 December 2009 (FY09), while net profit increased 5.1% to $14.9 million in FY09.

BBR Holdings (S), the civil engineering and construction specialist, announced a net profit after tax and minority interests of $13.4 million for the full year ended Dec 31 2009 (FY2009), a significant increase of 266% from $3.7 million in the preceding year of FY2008.

Penguin International, the integrated marine and offshore services group with interests in shipbuilding, ship owning and ship chartering, posted a 17.3% fall in net profit to $7.3 million in the full year ended 31 December 2009 (FY09) without significant contribution from vessel sales.

SBI Offshore, the specialist in the marine and offshore industry, posted a 20.3% increase in net profit attributable to shareholders to US$2 million ($2.8 million) for the financial year ended 31 December 2009 (FY2009) from US$1.7 million for the financial year ended 31 December 2008 (FY2008).