Friday, August 5, 2011

Scomi Eng shines amid market carnage

KUALA LUMPUR: SCOMI ENGINEERING BHD [] provided a brief respite to the local stock market on Friday, Aug 5 amid the heavy selling pressure on Bursa Malaysia and key regional markets, triggered by worries about euro zone's debt crisis and that the U.S. economy may slide back into recession.

At 2.58pm, Scomi Engineering rose 6.5 sen to 88.5 sen with 999,300 shares done.

However, the 30-stock FBM KLCI plunged 26.58 points to 1,520.04. Turnover was 1.19 billion shares valued at RM2.25 billion. Losers hammered gainers 934 to 31 while 98 stocks were unchanged.

Scomi Engineering said at midday the consortium had been officially'' awarded the RM2.76 billion tender for the 20-km monorail line for the city of Manaus in Brazil.

Scomi Engineering said the Infrastructure Secretariat of the State of Amazonas had published on Friday, Aug 5 that the tender was awarded the consortium.

The Manaus monorail will consist of nine stations from Largo da Matriz to Jorge Teixeira and will involve the supply of 10 train sets of six cars in each set.

The total award is valued at 1.46 billion real or RM2.76 billion of which Scomi Engineering's share is RM646.38 million.

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