Shares in Seatrium closed 25 cents higher or 10.87% up at $2.55 on Feb 13 while shares in Yoma Strategic closed 1.4 cents higher or 17.72% up at 9.3 cents on the same day.
Both counters were the two most heavily traded on the Singapore Exchange (SGX). About 118.7 million shares in Yoma representing a total value of $10.86 million changed hands by the end of the day. At the close of Feb 13, some 108.23 million shares in Seatrium representing a value of $268.58 million changed hands.
Seatrium’s share spike could be attributed to the company’s memorandum of understanding (MOU) signing with BP for a second deepwater floating production unit project announced on the morning of Feb 13.
According to broadsheet The Straits Times, the Association of Singapore Marine and Offshore Energy Industries (ASMI) said it intends to help Singapore’s marine and offshore energy companies grow sustainably by creating and redesigning 1,000 local job roles by 2030.
On Feb 11, Yoma released its trading updates for the quarter ended Dec 31, 2024. During the quarter, Yoma’s revenue surged by 54% y-o-y in Myanmar kyat (MMK) terms mainly due to growth in Yoma’s real estate development and food and beverage (F&B) businesses. Revenue in US dollar (USD) terms dipped by 2.4% y-o-y to US$48.6 million ($65.62 million).
