Singapore shares closed higher yesterday with the blue-chip Straits Times Index up 2.01 points to 2,888.37. Volume was 1.30 billion shares worth $1.09 billion. Gainers led losers 247 to 237. US stocks ended flat last night, dropping off earlier highs as a weak US bond auction and global debt concerns continued to weigh on investor sentiment. Here are some stocks and factors to watch, says The Edge Singapore:

Singapore’s Changi Airport, Asia’s fifth-largest, said it saw a 21.5% jump in passenger traffic in February, the biggest rise in six years, and a 16.2% rise in air freight by tonnage last month, showing stronger global demand for goods and recovery in air travel.

Keppel Corp’s Keppel Offshore & Marine, through its subsidiaries, Keppel Shipyard, Keppel FELS and Keppel Verolme, has secured $140 million worth of contracts for the conversion of a Floating Production Storage and Offloading facility (FPSO) and repair and modification of two semisubmersibles (semi).

Commodity firm Noble Group said it has appointed Nick Brewer as the group Chief Operating Officer.

F&N’s Frasers Hospitality has opened of Fraser Suites Seef Bahrain, the first of five properties to come on line throughout this region over the next two years. The 19-storey Kingdom of Bahrain property is said to set new standards for luxury accommodation in the city, with 91 one or two bedroom suites and three stunning penthouses.

Koon Holdings said it has together with JKM Engineers, entered into a sale and purchase agreement to acquire the entire issued share capital of ECI Corporation for $5 million. Koon will acquire 75% of HDB-approved precaster ECIC for $3.75 million, which will be funded wholly by internal resources.

TEE International has entered into a joint development agreement for a Cairnhill Circle site with TG Development and TG Capital Management. The parties in this JDA have agreed to jointly collaborate and undertake the development of the properties located at 47, 49, 51, 55, 57, 59 and 61 Cairnhill Circle into an upper-middle range residential condominium for sale.

C&O Pharmaceutical Technology announced that the group’s research and development projects on PNA, a Hepatitis B drug, as well as three other anti-infective drugs, were selected for sponsorship under China government’s “Mega New Drug Development Programme”. Under the programme, a total amount of RMB6.6 billion ($1.36 billion) is going to qualified projects, which have to meet high standards. The four C&O R&D projects have already received an initial funding of RMB1.11 million during March 2010. Follow-up funding will be granted in the future according to project benchmarks. Total funding for these 4 C&O R&D projects approved by the programme will amount to RMB7.5 million.

Renewable Energy Asia Group (formerly known as Superior Fastening Technology Limited) announced that the company had on March 25 entered into a placement agreement for up to 40 million new ordinary shares at 17.6 cents per share by way of a private placement.

Valuetronics Holdings, the designer and manufacturer of consumer, commercial and industrial electronics sectors, said wholly-owned Subsidiary Honor Tone Limited, has entered into a licensing arrangement with Whirlpool Properties, Inc., Maytag Corporation and Maytag Limited for the exclusive, non‐transferrable right to use the “Whirlpool”, “Maytag” and “Amana” brands in the air treatment category, specifically for the portable Air Purifier appliance for the North American market.