Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.77% to 2,896.43 points. US stocks rose to a new 17-month high last night after the Federal Reserve held benchmark rates near zero and maintained its pledge to keep them low for an extended period.

Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 2.1% yesterday in London, its first decline in five days. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 29 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, retreated 2.5% to $15.70. Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, gained 1.6% to $1.27.

Commodity trader Noble Group (NOBG.SI) is seeking an extension to an US$800 million ($1.1 billion) loan it took last year and could increase it and push for lower pricing, banking sources said yesterday.

Neptune Orient Lines (NEPS.SI), world’s fifth-largest container shipping firm, said its wholly owned unit is taking a term loan of US$300 million ($418 million) for corporate funding. The loan was arranged by Sumitomo Mitsui Banking Corporation.

Lian Beng Group: A subsidiary of the construction company secured a $78 million condominium development project from Eunos Link Technology Park, according to a company statement submitted to the Singapore stock exchange. Lian Beng Group was unchanged at 29.5 cents.

Data storage manufacturer Swing Media Technology (SWMT.SI) said it plans to list its shares on the Hong Kong stock exchange. The company manufactures in Hong Kong and one of its main markets is China.

Medi-flex said revenue of the group increased by 118% from RM23.85 million ($10 million) for the six months ended 28 Feb 2009 (1HFY09) to RM51.99 million for 1HFY10. The group’s gross profit increased from RM0.20 million to RM7.23 million.

ComfortDelGro Corporation announced that has sold its 49% interest in the registered capital of its joint venture company, Shanghai Shenxin Bus Services Ltd to Shanghai Bashi Public Transportation Company Ltd for a cash consideration of RMB 50.7 million ($ 10.4 million) based on the net assets of the Joint Venture Company.

Stamford Tyres Corporation said revenues from sales of tyre and wheel products were $81.5 million for the 3rd quarter ended Jan 31 2010, a growth of 29.5% over 3Q2009. The group also achieved a net profit of $2.4 million compared to $0.1 million in 3Q09.