Singapore’s benchmark Straits Times Index (.FTSTI) fell 1.46% to 2,901.18 points on Tuesday. US stocks on Tuesday in Wall Street’s worst session in three months, on the fear that even with a bailout for Greece, Europe’s debt crisis could spread to other weak euro zone countries.

Singapore Airport Terminal Services reported a 10.2% net profit rise in its quarter ending March and a 23.5% rise in its full 2009/2010 year profit, after the acquisition of Singapore Food Industries, and said the aviation industry appeared to be on the path to recovery.

Defence and electronics manufacturer ST Engineering reported a 9% rise in its first quarter net profit on Tuesday, and said it had a record high order book of $11.8 billion. It expects higher turnover in 2010 versus last year.

Raffles Education reported a $9.5 million third quarter net profit on Tuesday, a turnaround from a $16.5 million loss a year earlier when it was hit by an impairment from Chinese associate Oriental Century.

AusGroup recorded a 37.5% fall in net profit attributable to equity holders for the three months ending March 31 (3Q FY2010) to A$2.6 million ($3.3 million). Revenue for 3Q decreased by 15.8% to A$83.8 million mainly due to the continued impact of lower activity levels in the group’s manufacturing and fabrication segments in Australia and Singapore and the construction segment in Australia. Delays in projects by some clients further contributed to the lower revenues registered during the quarter.

Great Eastern Holdings, an insurer partly owned by Oversea-Chinese Banking Corp., said first-quarter net profit fell 24% to $179.1 million. Excluding the one-time profit contribution (after tax) of $195.5 million in the first quarter of 2009, net profit would have gone up by 332%. Gross premiums rose 14% compared to a year ago to $1.34 billion mainly due to increased single premium sales.

China’s New Century Shipbuilding withdrew its planned $560 million Singapore initial public offering late on Tuesday, less than a week after volatile markets had forced it to slash the size of its offering, a blow for bourse operator Singapore Exchange.

OCBC, Singapore’s second largest lender, is likely to report a 5% drop in quarterly profit as strong fees and loans growth only partially offset an insurance income boost seen a year ago.