Singapore’s benchmark Straits Times Index <.FTSTI> fell 1.38% on Tuesday to 2,830.34 points. Singapore stocks are likely to come under pressure on Wednesday after US shares tumbled overnight due to rising doubts over the stability of Europe’s banks and increasing concerns over the global economic outlook.

Sembcorp Industries says it will provide industrial wastewater treatment services to German specialty chemicals company Lanxess’ butyl rubber facility from a new integrated industrial wastewater treatment plant to be located in Tembusu district of Singapore’s Jurong Island petrochemical cluster. Expected to be completed by the second quarter of 2012 at an investment cost of $40 million, the new facility will more than double Sembcorp’s current industrial wastewater treatment capacity on Jurong Island, and will be sufficient to serve Lanxess as well as further customers.

Singapore Airlines (SIAL.SI), the world’s second most valuable carrier, said is 10-year bonds will carry a coupon of 3.22% and will be issued at par value. DBS (DBSM.SI), ANZ (ANZ.AX), Oversea-Chinese Banking Corp (OCBC.SI) and United Overseas Bank (UOBH.SI) are joint leader managers and bookrunners for the issue.

China Fishery (CNFG.SI) , which operates fishing fleets in the Pacific, said on Tuesday it will issue 113.5 million new shares and 26.67 million warrants to Carlyle under an agreement that will see the US investor take a stake of up to 13.6% in the Chinese firm.

Singapore’s Wilmar International (WLIL.SI) and US-based Elevance Renewable Sciences will build a refinery in Indonesia to produce biofuels and oleochemicals, the two firms said on Tuesday.

Biosensors International Group (BIG SP): The Singapore-based maker of drug-coated stents that treat blocked arteries said it bought some assets of rival CardioMind Inc. for US$1.1 million ($0.227 million). The company said it may incur additional costs of up to US$1 million for the transfer of the assets to its research and manufacturing facility in the city-state. Bionsensors slid 2.6% to 76 cents.

Boustead Singapore (BOCS SP): The provider of engineering services said its Boustead Salcon Water Solution Pte subsidiary won a $21 million contract to design and build a water recycling plant in Abu Dhabi. Boustead slipped 1.2% to 83.5 cents.

Afor announced shareholders have approved the change of the name of the company to Epicentre Holdings.

Sound Global announced that it signed a Build, Operate and Transfer project in Xi’an City, Shaanxi Province. The company has signed the BOT contract with the management committee of the Xi’an International Gangwu District for a project with an expected treatment capacity of up to 25,000 tonnes of wastewater per day. The project has a concession period of 27 years, excluding the construction period.