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SAMUDRA-WA : Price Rising on New Contract Ahead of Disposal of Core Business

The share price of Kejuruteraan Samudra Timur Berhad (Samudra) rallied significantly on 25 February after the company announced a day earlier that it had secured a five years’ contract from Petrofac (Malaysia-PM304) Limited for the provision of tubular handling equipment and services for PSC Operator’s Drilling Programme.  The share price retreated on 26 February somewhat to close at 42 sen. SAMUDRA-WA was more resilient than the mother share and kept its prior day gain to close at 17.5 sen.

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