Thursday, January 27, 2011

SapuraCrest advances on US$31.5m Petronas contract

KUALA LUMPUR: Shares of SAPURACREST PETROLEUM BHD [] surged in early trade on Thursday, Jan 27 after it secured a US$31.5 million contract from Petroliam Nasional Bhd's subsidiary to install offshore facilities in the Andaman Sea.

At 9.25am, it was up 17 sen to RM3.60 with 404,700 shares done.

The FBM KLCI rose 8.08 points to 1,528.08. Turnover was 134.6 million shares valued at RM122.71 million. There were 276 gainers, 39 losers and 122 stocks unchanged.

SapuraCrest's unit TL Offshore Sdn Bhd had received a letter of award from Petronas subsidiary PC Myanmar (Hong Kong) Ltd for the transportation and installation of offshore facilities for the Yetagun Phase 4 development.


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