SINGAPORE (Feb 27): Singapore stocks remained mostly lower as weaker local corporate earnings sapped risk appetite.

At 12:25pm (0425 GMT), the Straits Times Index was little changed at 3,424.51, while market breadth was negative.

Some of the biggest decliners among blue chips were companies that just reported weaker results.

Noble Group led the pack, falling 6.1% to 99.5 cents on disappointment with the company's huge asset write-downs, which pushed it into the red in 4Q2014 and sent its 2014 earnings down 46% to US$132 million.

"2015 earnings growth will mainly come from lower losses from associates (we are expecting Noble Agri’s losses to narrow as soybean crushing margin in China is improving) and lower interest expense," said UOB Kay Hian.

Golden Agri-Resources was another blue chip that came under pressure.

The stock declined 2.4% to 40 cents after the palm oil producer turned in a 4Q2014 net loss, which it blamed on fair-value losses for its biological assets.

ST Engineering fell 1.4% to $3.50, also hurt by weaker earnings and concerns about its profitability in 2015.

The most active stock in the market was MDR, with over 99 million shares traded. The stock was flat at 0.4 cent.