Charisma shares jump over 20%, prompting Singapore Exchange query

SHARES of Charisma Energy Services climbed over 20 per cent on Monday, prompting a trading activity query from the Singapore Exchange.

The counter gained 0.7 Singapore cent to 3.7 Singapore cents as at 12.40pm and was second most active with 122 million shares worth S$4.3 million done.

There has nary been any major news from the mechanical and electrical engineering services provider since early September, when it announced key management changes and that it secured a US$72 million contract to provide five offshore support vessels for a Middle Eastern national oil company.

The firm had said that the project was targeted to commence in the third quarter of this year and is expected to have a positive earnings impact for the year ending December 2014.