Singapore Stock Market : Wilmar, OUE, Del Monte, Kencana Agri, Tiong Woon, Kreuz

Singapore stocks are expected to rise after Italian Prime Minister Silvio Berlusconi offered to resign once the government approves austerity measures, easing concern Europes’s debt crisis will damp the earnings outlook for Asian exporters.

Singapore’s Straits Times Index gained 0.6% to 2,866.52 at the close. Four stocks rose for every three fell in the index of 30 companies. Here are some stocks to watch:

Wilmar International, the agribusiness group, posted a 24% increase in net profit to US$321 ($406.5 million) for the quarter ended September 30, 2011 (3Q2011). Revenue was up 69% to US$13.1 billion for the quarter driven by higher sales volume and prices of agricultural commodities as well as contribution from the sugar segment.

Mainboard-listed integrated property developer Overseas Union Enterprise has reported a 84.4% fall in net profit of $19.9 million for the third quarter (3Q2011) ended 30 September 2011 compared to the year ago period.

Del Monte Pacific announced today that third quarter (3Q2011) net profit more than doubled to US$7.8 million ($9.9 million) from US$3.3 million a year ago while revenue increased 19% to US$105.3 million from US$88.4 million.

Kencana Agri says net profit for 3Q2011 fell 79% to US$460,000 ($584,407) from $2.2 million a year ago due to the exchange loss of US$1.4 million which came mainly from the translation of US$ borrowings.

Tiong Woon Corporation Holding has posted a 23% fall in net profit after tax of $1 million in the first quarter ended 30 September 2011 compared to $1.3 million in the previous corresponding quarter.

Kreuz Holdings, the subsea service provider for the oil and gas industry, reported its profits more than quadrupled to US$5.9 million ($7.5 million) for the three months ended September 30, 2011 (3QFY2011) from US$1.3 million in the year-ago period (3QFY2010). Revenue more that doubled to US$34.1 million from US$13.6 million. Meanwhile, Kreuz also announced it has won contracts from Swiber worth US$57.5 million.

China Sunsine Chemical Holdings says it posted a 17% fall in net profit to RMB28.2 million ($5.7 million) in 3Q2011 from RMB33.8 million in 3Q2010 mainly due to a 28% increase in administrative expenses as well as higher income tax expense.

Cosco Corporation (Singapore) says unit, Cosco (Dalian) Shipyard Co., has delivered a new build 30,000 dwt multipurpose heavy lift carrier, the Kraszewski, to its buyer.

UE E&C has reported a 216% jump in net profit of $17.5 million for the 3Q ending Sept (3Q2011) from $5.5 million a year ago (3Q2010) due to changes in the financial reporting standards of property developers.

Catalist-listed Tung Lok Restaurants (2000) reported a net loss of $0.6 million for the six months ended 30 September (1HFY12) compared to a profit of $0.3 million a year earlier (1HFY11) hit by lower sales as well by operating expenses which to rose $16.5 million from $0.5 million.

Mainboard-listed Sunpower Group, the China-based heat transfer technology specialist, says wholly-owned subsidiary, Jiangsu Sunpower Technology Co. has secured a US$8.6 million ($10.91 million) contract with Ma’aden Bauxite and Alumina Company to supply 72 heat exchangers. Ma’aden Bauxite and Alumina Co. is a joint venture between the Saudi Arabian Mining Company, Ma’aden and US aluminium giant, Alcoa Inc.

China Fishery Group has agreed to buy two Peruvian fishing companies for US$26.2 million ($33.2 million).

Hiap Seng has reported a 2Q net income jumps 70% to $3.6 million.

Wheelock Properties has reported a 3Q net income rose 8.5% from a year earlier to $80.8 million. (The Edge Singapore)