Singapore stocks may advance for the first time in five days as Greece moved closer to accepting a bailout and the European Central Bank unexpectedly lowered interest rates. The Straits Times Index dropped 0.9% to 2,810.04 at the close. Four stocks fell for each that rose in the index of 30 companies. Here are some stocks to watch:

Sembcorp Industries says group net profit increased 5% to $222.4 million in 3Q2011. Utilities delivered a strong 33% increase in net profit to $78.8 million, growing its contribution to the group’s net profit to 35% from 27% in 3Q2010. Marine’s 3Q2011 net profit was $135.2 million compared to $148.4 million last year.

Sembcorp Marine, the world’s second-biggest oil-rig maker, posted a 25% drop in third- quarter operating profit after completing orders won at reduced prices during the global recession. Profit in the three months ended Sept. 30 fell to $211 million from $283 million a year earlier. Sales gained 17% to $1.3 billion.

Singapore Airlines has reported a 49% drop in second quarter net profit due to high jet fuel prices and said yields will remain under pressure. The airline earned $194 million for the three month ended September compared to $380 million a year ago.

Water treatment firm Hyflux said its third-quarter net profit fell 34%, hurt by lower contributions from the Middle East and North Africa. Hyflux posted a net profit of $12.6 million for July-September, down from $19 million a year earlier.

Oxley Holdings, the homegrown lifestyle property developer, has posted a 398% increase in net profit attributable to shareholders to $5.7 million, for the first quarter ended 30 September 2011 (1QFY12), compared to a net profit of $1.1 million in the previous corresponding period (1QFY11).

PSC Corporation has posted a 32.8% rise in net profit to $3.07 million for the third quarter ended Sept 30, 2011 from $2.31 million a year ago. Revenue rose 3.1% to $100.09 million from $94.08 million due to its packaging operation in China and consumer business in Singapore and Malaysia.

Chip Eng Seng Corporation says net profit for the third quarter ending September 30, 2011 fell 75.1% to $24.85 million from a year ago. Revenue fell 37.2% to $72.30 million due to lower contribution from a development project, Oasis@Elias, which obtained TOP on 26 September 2011.

Roxy-Pacific Holdings, the homegrown specialty property and hospitality group, today announced a 50% increase in net profit to $13.4 million for the third quarter ended September 30, 2011 (3Q2011) from $8.9 million in the previous corresponding period (3Q2010), despite a 16% decline in revenue.

Cosco Corporation (Singapore) says Cosco (Zhoushan) Shipyard Co., a subsidiary of the company’s 51% owned subsidiary, Cosco Shipyard Group Co., has secured a contract valued over US$68 million ($86.7 million) from an Asian company to build two 82,000 dwt dry bulk carriers.

Source: The EdgeSingapore.