Singapore’s benchmark Straits Times Index rose 0.14 point on Tuesday to 2,818.21 points last night. Singapore shares are likely to rise on Wednesday following an overnight leap on Wall Street that saw the S&P index turn positive for the year.

Chip Eng Seng Corp. (CHIP SP): The Singapore-based homebuilder said its CEL Development Pte unit and Choicehomes Investments Pte submitted the top bid of $223.7 million at a government auction for a residential site in the northeastern part of the city-state. Chip Eng Seng climbed 3.1% to 33.5 Singapore cents.

Singapore-listed Chinese shipbuilder Cosco Corp. said it has signed 11 contracts and four letters of intent worth over US$440 million ($612 million) in total to build 15 bulk carriers for four European shipowners.

Singapore Airlines said it filled 69.1% of space available on its planes in May, down from April’s 69.3 but well above the 62.8% a year ago.

India’s Fortis Healthcare said it was keeping its options open on Malaysian state investor Khazanah’s offer for Parkway Holdings, after sources said the Indian firm had hired Macquarie and Religare Capital to help it raise funds for a possible takeover battle.

Spice i2i, the Singapore-based provider Internet telephony services controlled by Indian billionaire Bhupendra Kumar Modi, said it plans to raise net proceeds of $133 million, selling as many as 1.37 billion shares at 10 cents each to existing shareholders. Spice i2i, formerly known as MediaRing, slid 2.4% to 20 cents.