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Publish date: Wed, 25 Apr 2012, 02:32 PM
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IEV Holdings up after contract win
Shares of IEV Holdings Ltd jumped as much as 10.3 percent after the engineering company secured a two-year compressed natural gas (CNG) supply contract from PT Unilever Indonesia Tbk.
IEV shares were up 8.1 percent at S$0.735, having surged 56 percent so far this year. PT Unilever, which manufactures home, personal care and food products, will buy more than 350,000 million metric British thermal units (mmbtu) of CNG.
The revenue of more than $5 million from the contract is expected to boost the net tangible assets or earnings per share of IEV for the current financial year ending December 2012, the company said in a statement.
Shares up 1.39 pts at noon
Singapore share prices rose by noon on Wednesday with the Straits Times Index up 1.39 points to 2,975.76.
Volume was 3,87 billion shares worth S$538.4 million. Gainers outnumbered losers 177 to 136.
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