Singapore shares closed lower on Thursday with the blue-chip Straits Times Index down 24.91 points to 2,963.19. Volume was 2.33 billion shares worth $1.39 billion. Losers led gainers 299 to 200.

Stocks closed higher as round of stronger-than-expected retail sales boosted investors' hopes for 1Q reporting season. The Dow Jones industrial average gained 29.55 points, or 0.27 percent, to 10,927.07. The S&P 500 Index rose 3.99 points, or 0.34 percent, to 1,186.44.

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ST Engineering’s aerospace unit, ST Aerospace, has been awarded a contract from Shanghai-based Spring Airlines for component Maintenance-By-the-Hour (MBHTM) services worth about US$105 million ($148 million). The new contract will start in April 2010 and stretch over eight years.

Thomson Medical Center announced a 22% y-o-y growth in net profit after tax to $7.2 million for the six months ended 28 February 2010 (1H FY2010). Revenue increased by 17.7% to $37.7 million. The board also declared interim dividend of 1.2 cents per share at a ratio of 48.8% NOPAT. Gross margin dipped from 43.3% to 42.4% for the corresponding period in 1HFY09.

Lian Beng Group reported a 52% growth in net profit attributable to shareholders to $17.4 million, or 3.28 cents per share, for the nine months of its 2010 financial year. This compares to a net profit of $11.4 million, or 2.16 cents per share, a year ago. This was on the back of a 4.5% improvement in revenue to $240.5 million. The group also managed to achieve an improvement in gross profit margin to 13.1%, from 11.2%.

Jardine Strategic Holdings announced the results of the tender offer made to repurchase its own shares. It has received valid tenders for 277,796 shares under the tender offer with a strike price of US$19 ($26.5). The tender offer has not been fully subscribed. The total consideration payable under the tender offer is US$5.28 million. Payment will be sent on April 16, 2010.