Singaporean Shares Soars Over 1%; OKP Shares Rise 2% on Award of Contract

MT Newswires ·  Mar 26 17:37

Singapore's Strait Times Index rose more than 1% on Tuesday's close, in the wake of strong manufacturing performances in February.

During the day, the benchmark Singapore Strait Times Index ranged between 3,198.64 and 3,242.91, ending 1.1% or 35.23 points higher at 3,233.33.

In economic news, Singapore logged a 3.8% year on year increase in its manufacturing output for February, according to a report by EDB Singapore on Tuesday.

In company news, shares of OKP Holdings (SGX:5CF) were up nearly 2%, as its wholly owned subsidiary, Eng Lam Contractors, was awarded a contract worth SG$17.7 million from Singapore's National Water Agency for the improvement of roadside drains.

Lum Chang's (SGX:L19) shares were down 10% on Tuesday's close following news that the company's managing director was questioned by local authorities for his alleged involvement in a corruption scandal involving the country's minister of transport.

Meanwhile, Keppel Infra Trust (SGX:A7RU) closed 1% lower, as it secured approval to list and quote new units on the main board of the Singapore Stock Exchange.

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