Barefoot Investor: Wah Seong shares also goes up today

Another shares that goes up today 4th July, Monday is Wah Seong.
Wah Seong is a proxy play to PETRONAS' domestic development programmes and worldwide gas, leveraging on Australia’s multiple LNG project sanctions

This shares started to shoot up after it secured a US$45 million (RM136.78 million) contract from Australia Pacific LNG Pty Limited to provide pipeline coatings for the Australia Pacific LNG project in Australia.

If you observe when the trade open around 9:05am something, Wah Seong added three sen to RM2.42 with 5,000 shares done.

According to Maybank IB Research they suggested to maintain its Buy rating on Wah Seong and said it was positive on the company’s clinching of the AP LNG pipe-coating project and that it anticipate more of these to follow over the next few months.


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