Good morning moomooers! Here are things you need to know about today's Singapore:

• Singapore stocks open higher on Tuesday morning; STI up 0.38%
  

• Singapore Q1 GDP grows 1.3%, but outlook has become more uncertain: MTI

• Stocks to watch: FLCT, Top Global, Metro, Japan Foods, ThaiBev, CDL

-Moomoo News SG

Market Trend

Singapore stocks open higher on Tuesday morning as its economy grows at its fastest pace in more than a year.

$FTSE Singapore Straits Time Index(.STI.SG)$ increased 0.38 per cent or 11.85 points to 3135.46 as at 9.05 am. Losers/gainers is 150/ 67, after 263.46 million securities worth S$191.94 million changed hands.

The most active counter by volume was $3Cnergy(502.SG)$, which increased 20 per cent or 0.3 Singapore cent to 0.018 SGD, with 47.35 million shares changing hands.

Breaking News

Singapore Q1 GDP grows 1.3%, but outlook has become more uncertain: MTI

Singapore's first-quarter economic growth exceeded earlier estimates by more than one percentage point, but contrary to expectations, the Ministry of Trade and Industry (MTI) will not be upgrading its full-year outlook in view of "heightened uncertainties" .

Gross domestic product (GDP) grew 1.3 per cent in Q1, outperforming advance estimates of a 0.2 per cent growth, according to MTI data released on Tuesday morning.

The final print surprised economists, who were already anticipating a 0.9 per cent growth in Q1, according to a Reuters poll of private-sector economists.

Reversing Q4's 2.4 per cent contraction, Q1's good showing is the first turnaround for the economy since the pandemic hit in Q1 last year.

Stocks to watch

$FRASERS LOGISTICS & COM TRUST(BUOU.SG)$: Its private placement of 240 million new units was around 2.8 times subscribed, the manager said on Tuesday. The issue price of S$1.399 per new unit was fixed at the top end of the price range. The upsize option was also fully exercised. FLCT's units last traded at S$1.44 on Friday. The manager had called for a trading halt on Monday morning.

$Top Global(BHO.SG)$: The voluntary conditional offer to take Top Global private has turned unconditional, said the group in a filing to the exchange on Tuesday. As at 6 pm on May 24, offerer SW Investment Holding owned, controlled, had agreed to acquire or had received valid acceptances for 90.28 per cent of the total number of shares in Top Global. The offer will remain open for acceptance until the final closing date at 5.30pm on June 28, 2021. Shares of the group ended Monday unchanged at S$0.39.

$Metro(M01.SG)$: The property investment and retail group on Tuesday reported a 50.5 per cent surge in net profit to S$17 million for the second half-year ended March 31, 2021, up from S$11.3 million for the same period last year. The bottom line growth came even as its revenue for the period fell 25.7 per cent to S$60.6 million, largely due to lower contributions from its property segment. Shares of Metro ended Monday at 74 Singapore cents, up 0.5 cent or 0.7 per cent.

$Japan Foods(5OI.SG)$: The Catalist-listed restaurant operator returned to profitability for the second half-year ended March 31, reporting S$3.3 million in earnings as opposed to a loss of S$501,000 for H2 FY2020. In its results filing on Tuesday, the group attributed its improved H2 performance to the easing of dining restrictions at the end of Singapore's "circuit-breaker" period last year. Shares of Japan Foods ended Monday flat at S$0.39.

$ThaiBev(Y92.SG)$: On Monday the mainboard-listed beer and liquor giant announced it will hold an annual information meeting for shareholders in Singapore to hear from the key directors and management. Held by means of a live webcast with video and audio-only feeds, the virtual meeting will take place on June 21 from 11 am to noon. ThaiBev ended Monday at 69.5 Singapore cents, down half a cent or 0.7 per cent, before the announcement.

$CityDev(C09.SG)$: Its chairman Kwek Leng Beng cautioned that further cooling measures could be introduced by the government to control the prices of residential property if prices continue to rise. The property magnate's warning came at CDL's annual general meeting held by electronic means on April 30, minutes of which were filed on Monday. The counter closed S$0.07 or 0.9 per cent higher at S$7.50 on Monday, before the minutes were published.

$Dyna-Mac(NO4.SG)$: The fabricator of topside modules and structures for the offshore oil and gas industry has secured a S$197 million contract from its repeat customer, BW Offshoregroup, for a fabrication project. This brings the group's order book to S$368 million, with deliveries up to the year 2023. Prior to its announcement on Monday, Dyna-Mac's shares closed 0.1 Singapore cent or 1 per cent higher at 9.5 cents.

$Mary Chia(5OX.SG)$: The Catalist-listed group on Monday applied for a month's extension of time to announce the group's unaudited financial statements for the financial year ended March 31, 2021. This comes as the group's finance team in Malaysia had to work from home due to the latest movement control order (MCO) and had "limited access to the accounting system". Prior to this, shares of Mary Chia had closed at 9.4 Singapore cents on Monday, up 1.1 cents or 13.3 per cent.

$Spura Finance(S23.SG)$: Following its unsuccessful attempt to obtain a digital bank licence in Singapore, the mainboard-listed lender on Monday said it disposed of its stake in MatchMove PowerBank (S), in exchange for a further 0.3 per cent stake in MatchMove Pay from a stake of 1.6 per cent. The counter closed unchanged at S$0.81 on Monday before this announcement.

$Spindex Ind(564.SG)$: On Monday it warned of an impact on its Malaysia factory as it limits operations in line with a tightened MCO by the Malaysian government, which allows for only 60 per cent of all staff to be present at the workplace. Spindex said that this will affect the number of operational staff available to work on-site, and that "there will be an impact to its Malaysia factory as operations are reduced". Shares of Spindex closed flat at S$1.21 before the announcement.