The Straits Times index dropped 1% to 2,571.31.

 

Auric Pacific (AP SP): The distributor of food and consumer goods said it posted a net loss of $2.34 million in the second quarter, compared with a loss of $8.36 million the year before. Its shares added 1 percent to 51.5 cents.

 

Banyan Tree Holdings  (BTH SP): The operator of luxury resorts said it posted a net loss of $4.2 million in the second-quarter, compared with a net income of $3.5 million a year ago, as demand for its rooms dropped due to the global economic crisis, the swine flu pandemic as well as unrest in Thailand. The stock fell 1.4% to 70 cents.

 

City Developments (CIT SP): Singapore’s second-biggest homebuilder, posted its fifth straight earnings decline as demand for its hotel rooms dropped amid the global recession. Net income fell 15% to $140 million in the second-quarter from a year earlier, the company said. The stock fell 1.5% to $9.83.

 

Hong Leong Finance (HLF SP): The provider of financing banned by regulators from dealing in structured financial products for two years starting last month said profit fell 10% to $27.8 million in the second quarter compared with the year before. Its shares were unchanged at $2.81.

 

Singapore Telecommunications (ST SP): Southeast Asia’s largest telephone company said profit climbed for the first time in five quarters, helped by higher earnings from India and Australia. Net income rose 7.7% to $945.4 million in the first-quarter, it said. That compares with the $943.5 million median of four analyst estimates compiled by Bloomberg. Shares of SingTel, as the company is known, slipped 1.6% toS$3.18.

 

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