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

• Singapore stocks rise at Tuesday's open; STI up 0.8%

• ST Engineering revises proposed bid for Cubic Corp to US$78 per share

• Frasers Property receives applications for 982.9 mil rights shares for rights issue

• Stocks to watch: FEHT, SPH Reit, Keppel, Jardine Matheson, Hong Fok, Sabana Reit

-Moomoo News SG

Market Trend

Singapore stocks opened higher on Tuesday morning, following the record close of the Dow over on Wall Street.

$FTSE Singapore Straits Time Index(.STI.SG)$ rose 0.8 per cent or 24.94 points to 3,200.51 as at 9.01am.

Breaking News

ST Engineering revises proposed bid for Cubic Corp to US$78 per share

$ST Engineering(S63.SG)$ has submitted a revised proposal to $Cubic Corp(CUB.US)$'s board of directors to acquire all of its outstanding stock in cash for US$78 ($105.07) per share, up from its original offer of US$76 per share.

The revised offer price increases the total implied consideration from US$2.41 billion to US$2.49 billion, based on Cubic Corp's outstanding shares of 31.87 million as of 1QFY2021 ended December 2020.

Frasers Property receives applications for 982.9 mil rights shares for rights issue

$FRASERS PROPERTY LIMITED(TQ5.SG)$, at the close of its rights issue on March 25, received valid acceptances and excess applications of 982.9 million rights shares, or 90.6% of the 1.09 billion rights shares available under the rights issue.

Stocks to watch

$Far East HTrust(Q5T.SG)$: The real estate investment trust has obtained its first sustainability-linked loan facility worth S$125 million for a term of five years from OCBC, which is the sole lender for this transaction. The loan will be used to refinance FEHT's existing bank borrowings, with the loan's interest margin being tied to selected sustainability targets which were set together with OCBC. Units of FEHT closed 0.8 per cent or 0.5 Singapore cent lower at 62.5 cents, before the announcement on Monday.

$SPHREIT(SK6U.SG)$: Quicker recovery in its Australian malls has helped to boost the real estate investment trust's (Reit) first-half performance. The trust reported on Monday a distribution per unit (DPU) of 1.24 Singapore cents for its second quarter, culminating in a DPU of 2.44 cents for the first-half period. SPH Reit last traded 1.2 per cent or one Singapore cent higher to 85.5 cents, before the results were released.

$Keppel Corp(BN4.SG)$: The conglomerate announced on Monday that Keppel Telecommunications & Transportation is partnering Facebook and Telkom Indonesia to jointly own and develop the Bifrost Cable System, a multiple fibre paired, high capacity submarine cable system which will link South-east Asia and America. The counter was up 1.4 per cent or S$0.07 to S$5.27 at Monday's close.

$JMH USD(J36.SG)$: Despite its offer price being criticised for being lowball and prompting shareholders to consider legal action, the conglomerate told The Business Times that it does not intend to raise its offer price of US$33 per share for the about 15 per stake in Jardine Strategic Holdings that it does not own or US$5.5 billion for the buyout. JMH gained 1.5 per cent or US$0.99 to close at US$66.50 on Monday.

$Hong Fok(H30.SG)$: The property group on Monday evening said that there was no current intention by the board to explore or undertake any privatisation or delisting, contrary to what was written in a recent Straits Times article. The counter closed flat at S$1 on Monday, before the announcement.

$Sabana Reit(M1GU.SG)$: Its substantial unitholder Quarz Capital has recently purchased 650,000 units in the Reit for S$250,250- beefing up its stake in Sabana Reit from 8.942 per cent to 9.004 per cent. The consideration comes down to an average of 38.5 Singapore cents per unit. Sabana Reit units were up half a cent or 1.3 per cent, to close flat at 39.5 cents on Monday.

$Shen Yao(A78.SG)$: The gold miner and explorer has agreed to buy up to 3.55 million shares, or a 20.25 per cent stake, in loss-making property analytics firm Real Estate Analytics for about S$8.8 million from Wodabow Pte Ltd and its sole director Jean-Michel Paul. This will be funded by issuing 2.93 billion new shares in the company at 0.3 Singapore cent each. Shen Yao closed unchanged at 0.4 cent on Monday.