Short-lived rally for Kim Heng on Iran foray
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SHARES in Kim Heng Offshore & Marine Holdings staged an early rally bid on Friday following a pre-market announcement by the company on its planned foray into Iran. But the strong opening and subsequent rise proved short-lived as the stock fell in tandem with the broad market.
News about the company's strategic partnership in the oil and gas-rich Middle Eastern country did not seem to stir investor interest: close to 632,000 shares changed hands for the day, compared with a three-month average trading volume of 770,000 shares.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
