business
Sapura Kencana’s share price rises with crude oil
Shares of SapuraKencana Petroleum Bhd rose as much as eight sen or 4% in tandem with crude oil price gains.
SapuraKencana shares reached their highest so far today at RM2.17.
At 3.35pm, the stock pared gains at RM2.13 with a trade volume of about 14 million shares.
At RM2.13, SapuraKencana has a market value of RM12.76 billion. The company's latest reported net assets per share stood at RM2.31.
Brent crude oil price was up 44 US cents at US$39.16 a barrel as at writing.
Reuters reported that oil prices rose today, extending a rally that has lifted crude benchmarks by more than a third from this year's lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery. – The Edge Markets, March 7, 2016.
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