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

• Singapore shares opened higher on Tuesday; STI up 0.33%
  

• Olam posts 13.1% drop in Q1 PATMI; launches S$601.7m rights issue

• Stocks to watch: Olam, Alset, Singapore Myanmar Investco, Nutryfarm, DBS, Prime US Reit

-Moomoo News SG

Market Trend

Singapore shares opened higher on Tuesday. The Straits Times Index (STI) gained 0.33 per cent to 3,128.24 as at 9.02 am. Advancers / Decliners is 155 to 36, with 174.59 million securities worth S$103.06 million changing hands.

Breaking News

Olam posts 13.1% drop in Q1 PATMI; launches S$601.7m rights issue

Agrifood giant $Olam Intl(O32.SG)$ on Tuesday posted a 13.1 per cent drop in profit after tax and minority interests (PATMI) to S$155.6 million for the first quarter ended March 31, from S$179.1 million the year before.

The group also announced a three-for-20 rights issue which has been priced at S$1.25 per share. Olam expects to raise S$601.7 million in gross proceeds, which will be utilised to repay the debt used to fund its US$950 million acquisition of Olde Thompson last month.

Stocks to watch

$Alset(40V.SG)$: The Catalist-listed property investment and development company on Monday evening said it inked a strategic agreement with Tesla to install an initial supply of Tesla photovoltaic solar panels, powerwalls and electric vehicle chargers in 20 eco-friendly homes built by Alset's US-based subsidiary. The properties are located at Northpark Community in Porter, Texas, in the Houston area. Shares of Alset closed 0.1 Singapore cent or 1.6 per cent lower at 6.25 cents on Monday, before the announcement.

$SingMyanmar^(Y45.SG)$: Singapore Myanmar Investco on Monday evening said it has entered into a subscription agreement with China-based Internet companyThe9 to raise up to S$1.33 million. Shares in Singapore Myanmar Investco, which is on the SGX watch list, closed at two Singapore cents on Monday, down 0.1 cent or 4.8 per cent, before the announcement.

$NutryFarm(AZT.SG)$: Nutryfarm International on Monday evening said its indirectly wholly-owned subsidiary, Global Agricapital (Thailand) Co, has landed a new sales order worth about 195 million yuan (S$40.6 million)from Moonda (Beijing) Agriculture Science and Technology Co for 300 containers of durians from Thailand. Nutryfarm shares closed at 43 Singapore cents on Monday, up 6.5 cents or 17.8 per cent, before the announcement.

$DBS(D05.SG)$: DBS on Monday morning announced that it has started trading on the London Metal Exchange (LME), the world's oldest and largest metal bourse. DBS is the first Asian bank to receive a membership with LME outside London. DBS shares closed on Monday at S$29.63, down S$0.14 or 0.5 per cent, after the announcement.

$Prime US ReitUSD(OXMU.SG)$: Prime US Reit on Monday evening said it has established a distribution reinvestment plan (DRP) that would allow unitholders to choose to receive new units in the real estate investment trust. Participation in the DRP is optional and unitholders may elect to participate in respect of part or all of their unit holdings. Units of the Reit closed at 86.5 US cents on Monday, down 0.5 cent or 0.6 per cent, before the announcement.

Trading halt: $Pan Asian(5EW.SG)$ on Tuesday morning requested a trading halt, pending the release of an announcement. Shares of Pan Asian Holdings on Monday closed at 7.4 Singapore cents, up 1.3 cent or 21.3 per cent.