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

• Singapore stocks rise at Friday's open; STI up 0.3

• LHN to raise S$2.2m in private placement of up to 6.5m new shares

• MC Payment controlling shareholder Ching says he lacks confidence in current board

• Stocks to watch: LHN, Keppel Infra Trust, SGX, Nutryfarm, Union Gas

-Moomoo News SG

Market Trend

Singapore shares opened higher on Friday, tracking gains on Wall Street. The Straits Times Index (STI) gained 0.3 per cent or 8.18 points to 3,170.68 as at 9.01am. Gainers outnumbered losers 91 to 32, with 122.7 million securities worth S$60.2 million changing hands.

$MM2 Asia(1B0.SG)$ was the most actively traded counter by volume, with 72 million shares worth S$5 million traded as at 9.01am. Its shares were trading at 7.5 Singapore cents, up 0.3 cent or 4.2 per cent.

$CFM(5EB.SG)$ also saw brisk trading, with 3.2 million shares worth S$1.1 million changing hands in early trading. Its shares gained 8.1 per cent or 2.5 Singapore cents to 33.5 cents.

Breaking News

LHN to raise S$2.2m in private placement of up to 6.5m new shares

Dual-listed property player $LHN(41O.SG)$ on Friday announced that it will raise a total of S$2.2 million from placing out up to 6.5 million new shares, at 33.51 Singapore cents each, on the Catalist board of the Singapore Exchange (SGX) under its general mandate.

Assuming that all the shares are fully placed out, LHN is expecting net proceeds of S$2.1 million which it intends to use for general working capital purposes. This will include renovation costs of the group's properties as well as operating expenses, said the group in its filing.

MC Payment controlling shareholder Ching says he lacks confidence in current board

The controlling shareholder of $MC Payment(TVV.SG)$, Ching Chiat Kwong, is asking for the removal of all but one of the company's current directors because of a "loss of confidence in the current board".

Stocks to watch

$Kep Infra Tr(A7RU.SG)$: Its trustee-manager Keppel Infrastructure Fund Management's chief executive Matthew Pollard will step down from July 31 to "pursue other opportunities in the region", and will be replaced by Jopy Chiang, senior vice-president for investments at Keppel Capital, from Aug 1, the trustee-manager announced after market close on Thursday. Separately, it announced earlier in the day that it will make an additional arbitration provision of S$23.8 million for its Australian subsidiary Basslink. Keppel Infrastructure Trust units closed flat at S$0.56 on Thursday.

$SGX(S68.SG)$: The bourse is seeking market feedback on proposed amendmentsto its derivatives clearing rules and the SGX Derivatives Trading futures trading rules, in relation to the "Gift Connect" trading link with India's National Stock Exchange, under which Nifty futures contracts on the Singapore Exchange (SGX) are executed in India's special economic zone. Shares of SGX closed at S$10.43 on Thursday, down 0.4 per cent or S$0.04.

$NutryFarm(AZT.SG)$: Its unit, Global Agricapital Holdings, has entered into a joint venture with retailer Kong Jun Durianto sell pre-packed durians in Singapore, the mainboard-listed company announced in a bourse filing on Thursday night. The joint venture company will have an initial issued and paid-up share capital of S$10,000, with 51 per cent owned by Global Agricapital and the remainder by Kong Jun. Shares of Nutryfarm closed flat at 32.5 Singapore cents on Thursday.

$Union Gas(1F2.SG)$: The fuel products provider, which was listed on the Catalist in July 2017, has received in-principle approval from the SGXto transfer from the junior Catalist board to the mainboard, subject to shareholders' approval. It aims to achieve greater visibility and market recognition. Shares of Union Gas closed at 95.5 Singapore cents on Thursday, down 1 per cent or one cent.

Trading Halt: Powermatic Data Systems (BCY) requested a trading halt on Friday morning before market open, pending an announcement. The counter closed flat at S$2.68 on Thursday.