Singapore’s benchmark Straits Times Index (.FTSTI) fell 1.5% on Monday to 2,960.9 points. US stocks rose late on Monday as investors reassessed the potential damage of the fraud case against Goldman Sachs and earnings optimism grew.

Noble Group shareholders have rejected a proposal to sell a stake in Australian coal unit Gloucester to Macarthur Coal, the world’s leading exporter of a coal used by steelmakers, in exchange for about 25% of Macarthur. Analysts said the vote makes it more likely Macarthur could be taken over by one of several bidders.

Qian Hu Corp reported that its net profit attributable to shareholders rose 0.9% to $1.4 million for the first quarter ended 31 March 2010. Group revenue rose to $23.2 million, boosted by a 4.2% growth in sales of Ornamental Fish to $12.3 million and a 16.7% jump in sales of plastics to $2.8 million.

Two Singapore Airlines flights to Europe took off in the early hours of Tuesday morning, helping clear a backlog of passengers stuck in the city-state due to a cloud of volcanic ash over much of the continent. The local press said SIA was losing between $5 million and $10 million a day because of the flight delays and cancellations.

Ascendas REIT announced a y-o-y increase of 11.4% and 7.9% in distributable income and net property income respectively for FY2009/10. Net property income increased to about $320 million partly due to cost savings in land rent and property tax as a result of the rebates provided by the Government as well as reduction in utilities expenses due to lower energy prices in 2009.

Singapore-listed Fortune REIT, which owns shopping malls in Hong Kong, said it has obtained final approval for a dual listing in the Chinese territory. Trading in Hong Kong begins on Tuesday.

K-REIT Asia, the office landlord partly owned by Keppel Land (KPLD SP) said first-quarter net income increased 14% to $17.8 million. The company said it will distribute 1.33 cents a share of the income to shareholders, compared with a distribution of 1.18 cents a year earlier.

Tiger Airways Holdings fully-owned subsidiary, Tiger Airways Australia Pty Ltd, announced its third base for Australia and new flights to operate from Avalon Airport in Victoria later this year. At the same time, Avalon Airport announces a multi-million-dollar expansion of its facilities to cater for more flights with today’s announcement that Tiger Airways will fly from the airport later this year.

Nera Telecommunications reported a turnover decreased of 35.7% from $51.2 million to $32.9 million for the first quarter ended 31 March 2010, with lower turnover from the Telecom business segment partially offset by higher turnover from the Infocomm business segment. Profit before taxation registered a drop of 29.2% from $3.7 million to $2.6 million as a result of the lower turnover.