Investor interest fuels Ramunia price
New Straits Times
17 February 2005

NEWLY-listed Ramunia Bhd's shares were heavily traded yesterday, benefiting form investors' appetite for oil and gas stocks, said dealers.

Its share price rose 12 cent to 91.5 cent on a volume of 22.6 million shares, making it the most actively traded counter. It was its heaviest volume since it got listed on the second board barely three weeks ago.

Ramunia, which took over the listed status of Sabah Shipyard Bhd, is an oil and gas services company that builds steel structures and has a yard in Johor.

The company said earlier it has jobs worth RM120 million and is bidding for about RM1 billion more, both locally and abroad.

It expects to secure its first two major overseas contracts worth more than RM100 million between April and September this year. The jobs are for the fabrication of offshore oil and gas structures in Indonesia.

Ramunia also plans to diversify from the oil and gas structure fabrication business into equipment and heavy equipment manufacturing this year.

It last registered a net profit that almost quadrupled to RM4.4 million for the year ended June 20 2004.