Singapore’s Straits Times Index gained 0.3% to 2,940.55 as of 9:30 a.m., set for its highest closing level since July 2008. Three stocks advanced for every two that dropped on the 30-member gauge. Stocks on the measure trade at 15.9 times estimated earnings, compared with about 10 times at the start of 2009, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Posts Tagged ‘PEC’
Jan 7: UOB, Genting, NOL, PEC
January 7th, 2010 |
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The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close.Singapore’s Straits Times Index gained 0.4% to 2,930.49.
The Dow and S&P 500 inched higher, while the Nasdaq dipped yesterday after Federal Reserve officials said they were worried about labour market weakness and a report on the services sector showed only slight improvement in the economy.
PEC Group awarded $245m oil terminal project works in Malaysia
January 6th, 2010 |
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PEC, the plant and terminal engineering specialist for the oil and gas, and petrochemical industries, says its subsidiary, Audex, has signed a contract worth US$174.5 million ($245 million) with ATT Tanjung Bin Sdn Bhd (ATB), to provide EPC works for an 841,000 cubic metre oil terminal for the storage of fuel oil, middle distillates and light distillates.
The oil terminal is located at Tanjung Bin within the Iskandar Development Region in Johor, Malaysia, and the EPC works are expected to be completed by March 2012.
PEC rated buy
November 26th, 2009 |
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DBS Vickers Securities in a Nov 26 research report says: “PEC provides engineering, procurement, construction, and maintenance (EPCm) services for oil and gas downstream activities in Singapore, Malaysia, Middle East, Thailand, and Indonesia. PEC delivered a positive surprise in 1Q10 (FYE June), with $80 million new orders.
PEC wins maintenance service contracts from Shell at P. Bukom
October 13th, 2009 |
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PEC, the homegrown plant and terminal engineering specialist for the oil and gas and petrochemical sectors, says it has signed a contract with Shell to provide mechanical maintenance service works at the Shell Bukom site.
PEC’s 44%-owned associated company, Plant Electrical Instrumentation (PEI) was also awarded contracts for electrical maintenance services and instrument maintenance services on the Shell Bukom site.
All the contracts had been effective from Oct 1 and are for a period of three years with option to extend for another two years. The contracts are not expected to have any material impact on PEC’s financial performance in FY2010, says the company.
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PEC posts 9% dip in FY09 net profit to $24.5m
September 4th, 2009 |
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PEC, the engineering specialist for the oil and gas and petrochemical industries, today says for the full year ended 30 June 2009 (FY2009), the group posted a 40% year-on-year increase in revenue to an all-time high of $440.5 million from $314.6 million in FY2008.
PEC says the increase was mainly due to increased revenue contributions of $132.8 million from project works in the Middle East and Singapore but partially offset by a decrease of $7.2 million in revenue contributions from lower maintenance activities.
Elections held for Peć and Priština
August 16th, 2009 |
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Local elections are being held today for the Kosovo municipalities of Peć and PriÅ¡tina. The polling stations are in GraÄanica and Goraždevac, however. The polling stations opened this morning in GraÄanica and Goraždevac and voting has gone without incident. Parties with headquarters in Serbia are participating in the elections, with Kosovo institutions stating that they consider the elections to be illegal.
PEC shares up 90% on debut
August 7th, 2009 |
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PEC (PECL.SI) shares jumped almost 90% on their trading debut today following the engineering firm’s initial public offering.
PEC shares opened at $0.71 on the Straits Times Index and rose as high as $0.76. In the afternoon, PEC shares were changing hands for $0.72, up 78.8% over the $0.40 IPO price set on July 30.
“It was priced to succeed,” said a trader from a local brokerage, adding that the stock had been priced much lower than that of the firm’s competitors such as Rotary Engineering (ROTE.SI) and Yongnam Holdings (YNAM.SI).
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