Triyards stock rides on deal win and Ezra's advance

RHB maintains "buy" rating for the oil and gas-linked stock


SHARES in Triyards, which fell one cent to S$0.415 on Friday despite an overnight announcement of shipbuilding contracts worth US$45.5 million, more than made up for it on Monday.

The stock closed at S$0.435, up two cents or 4.8 per cent, in what could be a belated reaction to its contract win. Triyards opened at S$0.41 on Monday, extending losses from a Friday close of S$0.415, but rebounded within the first hour of trading. The oil and gas-linked stock resisted pressure from a broad market slide and the continued weakening of Brent oil prices.

Lending weight was the trading in shares of parent company Ezra Holdings, which gained 4.2 per cent at S$0.099 on news of almost US$70 million...


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes