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Hot stock: Dyna-Mac jumps 8.3% on heavy volume

SHARES of offshore oil and gas contractor Dyna-Mac Holdings jumped as much as 11 Singapore cents or 8.3 per cent to S$0.143 amid active trading on Tuesday morning.

It was up S$0.008 or 6.1 per cent to S$0.14 with about 14.5 million shares traded as at 10.31am, and one of the most heavily traded stocks by volume.

The counter also saw a 12.9 per cent jump in the stock on Nov 7, which came days after the mainboard-listed company announced that its founder, chairman and chief executive officer (CEO) Desmond Lim Tze Jong had died.

Mr Lim was Dyna-Mac's biggest shareholder, with a 40.83 per cent stake as at March 13 according to its annual report.

The company, on Nov 11, reported a net profit of S$142,000 for the third quarter, down 18.4 per cent from the same period a year earlier. 

Following the death of its CEO, Dyna-Mac also sought to assure shareholders that it is business as usual.