Stocks to watch: Seatrium, Dyna-Mac
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Thursday (Jan 4):
Seatrium : Its contract for a 1,260 megawatt offshore substation platform has been cancelled. On Thursday, Seatrium said it performed “minimal” engineering work on the project – valued at over S$250 million – as construction work was expected to commence only in June 2024. Shares of the engineering solutions group ended Wednesday down S$0.005 or 4.2 per cent at S$0.115.
Dyna-Mac : The offshore oil and gas contractor is acquiring Exterran Offshore for US$8.25 million in cash. This will secure access to Exterran Offshore’s yard facilities of about 4.5 hectares along Gul Road, and in turn provide additional fabrication capacity for the group’s current and future projects. Shares of Dyna-Mac closed down S$0.02 or 5.8 per cent at S$0.325 on Wednesday, before the announcement.
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