Shares of Singapore’s Dyna-Mac Holdings, which provides services to the oil and gas industry, jumped as much as 8.8% on Wednesday after the company said it had secured orders potentially worth $115 million, reported Reuters.
At 9:08 a.m., Dyna-Mac shares were up 7.5% at $0.43 on a volume of 6.5 million shares, nearly twice the average daily volume in the last 30 days.
Dyna-Mac said yesterday it had signed letters of intent with Modec (6269.T), Bumi Armada Berhad (BUAB.KL) and SBM Offshore (SBMO.AS) for the fabrication of nine topside modules, nine piperacks and one turret.
The projects are expected to be completed by the end of 2013, Dyna-Mac said in a statement.
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