Hot stock: Nam Cheong jumps 19.2% after RM1.2 billion in contract wins

SHARES of mainboard-listed Nam Cheong surged on Friday (Nov 29) morning, after the group announced that it had bagged offshore support vessel charter contracts worth RM1.2 billion (S$360 million).

As at 9.20 am, the counter rose 19.2 per cent or S$0.07 to S$0.435, with about 1.6 million shares changing hands.

The share price later eased to S$0.425, still up 16.4 per cent or S$0.06, as at 11.24 am, with 2.6 million securities having been transacted. No married deals were recorded in early trade, based on ShareInvestor data.