Shares of Singapore-listed Malaysian offshore vessel builder Nam Cheong rose as much as 5.4% after it said its subsidiaries sold three vessels for US$36.8 million ($46.3 million).
The vessels were sold to new customers from Singapore, including a Norwegian-based company, and are due for delivery in the second and third quarters of 2012, Nam Cheong said in a statement.
Nam Cheong shares were up 4.9% at $0.194 with volume of more than 4.3 million shares. This was 1.7 times the average daily volume traded over the last five sessions.
Analysts said the contract wins were positive for Nam Cheong, as they mark an expansion in its customer base.
“It's good that orders have been coming in, as they typically build the vessels before receiving orders from customers,” said an analyst.
No comments:
Post a Comment