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

• Singapore stocks rise at Tuesday's open; STI edge up 0.1%

• Metal Component to diversify into healthcare with proposed S$4.3m Gainhealth acquisition

• Enviro-Hub associate company Pastel Gloves cleared to market gloves in the US

• Keppel to recognise S$318m impairment in H1 due to KrisEnergy exposure

• Sembmarine seeking alternative labour sources; likely to incur extra costs

• Stocks to watch: Keppel, Sembcorp Marine, Enviro-Hub, Suntec Reit

-Moomoo News SG

Market Trend

SINGAPORE shares opened slightly higher on Tuesday amid a mixed showing on Wall Street overnight.

The Straits Times Index (STI) gained 0.1 per cent or 2.87 points to 3,178.68 as at 9.01am. Gainers outnumbered losers 89 to 49, with 82.4 million securities worth S$42.4 million changing hands.

Breaking News

Metal Component to diversify into healthcare with proposed S$4.3m Gainhealth acquisition

Catalist-listed $Metal Component(5DX.SG)$ agreed to acquire about 85.1 per cent of shares in healthcare and e-commerce firm Gainhealth Pte Ltd for about S$4.3 million, it said on Tuesday.

Payment will be made with cash (S$3.8 million) and the issuance of up to 13 million new shares (S$481,000) at 3.7 Singapore cents per share. MCE shares were down 1.8 Singapore cents or 20 per cent at 7.2 cents as at 9.30 am on Tuesday.

Enviro-Hub associate company Pastel Gloves cleared to market gloves in the US

$Enviro-Hub(L23.SG)$ said on Monday night that its associate company Pastel Gloves on May 13 received the 510(k) regulatory clearance from the US Food and Drug Administration (FDA) for its nitrile medical-grade examination gloves.

The group had previously announced a proposed acquisition of the remaining 75 per cent of shares of Pastel Gloves, which will become its wholly-owned subsidiary.

Keppel to recognise S$318m impairment in H1 due to KrisEnergy exposure

$Keppel Corp(BN4.SG)$ on Tuesday said it will recognise a loss of S$318 million in respect of its exposure to $KrisEnergy(SK3.SG)$ in its H1 2021 financial results, after the latter on June 4 said it has submitted a winding-up petition.

The loss is measured by estimating the recoverable amounts of various assets of the troubled oil and gas group, less its obligations in connection with the revolving credit facility, carrying amounts of investment, contract asset and receivable from KrisEnergy, as well as other costs to realisation of the assets.

Sembmarine seeking alternative labour sources; likely to incur extra costs

$Sembcorp Marine(S51.SG)$ has begun exploring alternative sources of skilled labour, as it continues to face a shortage with the increased restrictions implemented in Phase 2 (Heightened Alert), it said in a Tuesday update.

The marine and offshore engineering group added that this is likely to incur increased manpower costs for ongoing projects and that it would continue to coordinate with customers to reschedule project completions. To date, there has been no cancellation of any of its existing projects.

Stocks to watch

$Keppel Corp(BN4.SG)$: The group on Tuesday said it will recognise a loss of S$318 million in respect of its exposures to KrisEnergy in its H1 2021 financial results, following KrisEnergy's June 4 announcement of its winding-up petition. Shares of Keppel closed at S$5.35 on Monday, up S$0.03 or 0.6 per cent.

$Sembcorp Marine(S51.SG)$: The marine and offshore engineering group has begun exploring alternative sources of skilled labour, as it continues to face a shortage with the increased restrictions implemented in Phase 2 (Heightened Alert), it said in an update on Tuesday. This is likely to incur increased manpower costs for ongoing projects and that it would coordinate with customers to reschedule project completions, the group added.

It on Monday night said its wholly-owned unit, Jurong Shipyard, has revised the delivery dates of two ultra-deepwater drill ships it had been contracted to build. Shares of Sembcorp Marine closed flat at S$0.20 on Monday, before the announcement.

$Enviro-Hub(L23.SG)$: Its associate company, Pastel Gloves, has received the 510(k) regulatory clearance from the US Food and Drug Administration (FDA) for its nitrile medical-grade examination gloves, it said in an update on Monday night. Enviro-Hub can now sell them in the US, where it says the gloves typically command a higher average selling price than normal gloves due to the limited supply. The group had previously announced a proposed acquisition of the remaining 75 per cent of shares of Pastel Gloves. Shares of Enviro-Hub closed at 8.6 Singapore cents, up 0.3 cent or 3.6 per cent on Monday.

$Suntec Reit(T82U.SG)$: The real estate investment trust's (Reit) trustee has priced S$150 million of subordinated perpetual securities at 4.25 per cent per annum, for five years from June 15, the Reit manager said on Monday night. Units of Suntec Reit closed at S$1.49 on Monday, up S$0.02 or 1.4 per cent, before the announcement.