Monday 24 October 2011

Silk advances on winning contract extension

Silk Holdings, a Malaysian oil and gas services provider, rose to a seven-week high after it won a RM23.5 million contract extension for the supply of an anchor-handling tug to Petronas Carigali Sdn Bhd.

The stock gained 8 percent to 27 sen at 9:03 a.m. local time in Kuala Lumpur trading, set for its highest close since Sept. 2. -- Bloomberg
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