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

Written by Jess Lu

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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