SapuraKencana shares jump 3.7% after DBS report

Kuala Lumpur

SAPURAKENCANA Petroleum shares rose 3.75 per cent to RM3.60 apiece after a report by DBS Group Research released on Monday played down the impact of falling oil prices on the integrated oilfields services provider.

At under US$90 a barrel, global oil prices are at a four-year low and investors, well aware that SapuraKencana (SKP) is also in the business of exploration and production, had fiercely sold its shares down to RM3.18, more than 35 per cent lower than the RM4.90 peak the shares hit earlier in the year.