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ALAM-WA: Good Run on Contract Award

The company warrant of Alam Maritim Resources Berhad (ALAM-WA) made its debut at Bursa Malaysia on 29th March 2019.  This warrant was given free to shareholders based on 1 warrant for every 2 shares held on the entitlement date of 22nd March 2019.   The share price of Alam Maritim rose 26% to 14.5 sen on 2nd April with volume surging to more than 55 million shares after the company announced that it has secured a USD59 million contract for the procurement, construction and installation of a pipeline system.  This led to the new company warrant surging to as high as 7 sen on 2nd April which was double the closing price of 3.5 sen on the first day of trading two days ago.  Alam Maritim mother share and ALAM-WA closed at 13 sen and 6 sen respectively on 9th April 2019.

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