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

• Singapore stocks fall at Friday's open after Wall Street retreat; STI down 0.4%

• SGX asks Fabchem to appoint new valuer for interested party transaction

• CDL confirms applications have been made for S-Reit IPO

• Top Global offeror secures 92.8% acceptances; concert parties' stake now 93.3%

• Stocks to watch: CDL, Ascendas Reit, KTL Global, MDR

-Moomoo News SG

Market Trend

Singapore shares opened weaker on Friday following overnight losses on Wall Street that were driven by a drop in technology stocks.

The Straits Times Index (STI) slipped 0.4 per cent or 11.09 points to 3,153.91 as at 9.03 am. Losers outnumbered gainers 85 to 76, after 110.3 million securities worth S$69.8 million changed hands.

The most active counter by volume was Marco Polo Marine, which rose 4.4 per cent or 0.1 Singapore cent to 2.4 cents with 16.4 million shares changing hands.

Breaking News

SGX asks Fabchem to appoint new valuer for interested party transaction

Singapore Exchange Regulation (SGX RegCo) has issued a notice of compliance to watch-listed $Fabchem China^(BFT.SG)$, requiring the latter to appoint a new valuer for a proposed disposal of subsidiary Shandong Yinguang Technology.

Fabchem had on March 19 entered into a sale and purchase agreement with controlling shareholder Triple Vision to dispose of its entire interest in Yinguang Technology, which produces explosive devices widely used in the mining, energy exploration, hydroelectric and infrastructure construction sectors.

CDL confirms applications have been made for S-Reit IPO

$CityDev(C09.SG)$ has confirmed an earlier Bloomberg report that it had applied for an initial public offering (IPO) of a Reit with commercial assets located in the UK, to be listed on the mainboard of the Singapore Exchange (SGX).

In a filing on Friday morning, the property giant said that relevant applications have been made to various regulatory authorities, including the SGX-ST and the Monetary Authority of Singapore.

Its proposed IPO and listing of the Reit are subject to market conditions, among others.

Top Global offeror secures 92.8% acceptances; concert parties' stake now 93.3%

$Top Global(BHO.SG)$'s executive director and controlling shareholder Sukmawati Widjaja, together with her investment vehicle SW Investment Holding, now control 93.3 per cent of the company, comprising 299.9 million of its shares.

This comes after the vehicle received valid acceptances of 92.8 per cent of its offer for the company as at 6pm on June 3, announced Top Global in a late-night filing on Thursday.

Stocks to watch

$CityDev(C09.SG)$: The property group on Friday confirmed reports that it has applied for an initial public offering (IPO)of a real estate investment trust (Reit). "No decision has been made as to whether the transaction will take place and there is currently no certainty that the company will proceed with the offering," CDL added. The IPO could raise some £500 million (S$940 million), Bloomberg reported. CDL shares closed S$0.12 or 1.6 per cent higher at S$7.83 on Thursday.

$Ascendas Reit(A17U.SG)$: The Reit will divest three logistics properties in Australia for a total of A$125.1 million (S$128.7 million). Units of Ascendas Reit closed S$0.01 or 0.3 per cent higher at S$2.92 on Thursday.

$KTL Global^(EB7.SG)$: The branding, operations and procurement company has proposed to acquire a fresh produce distribution business for S$200,000. Shares of KTL Global closed down 0.1 Singapore cent or 1.5 per cent at 6.6 cents on Thursday.

$MDR Limited(Y3D.SG)$: The after-market service provider for consumer mobile products on Thursday said one of its units will enter the mobile virtual network operator business in early July. Shares of MDR closed flat at 7.7 Singapore cents on Thursday.