SG briefs: Mun Siong Engineering

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Mun Siong Engineering pointed to two potential triggers for its stock jumping 25 percent to S$0.065 Friday, in response to a query from SGX about the unusual gains in high volume.

The company cited its mid-May announcement it planned to invest US$7.5 million to set up operations in North America. In addition, Mun Siong Engineering noted a Business Times article Thursday about Petronas’ planned capex; however, the company noted Petronas’ appointments of service providers is at its own discretion.

“Therefore, there are no assurances that those planned capital expenditures mentioned in the Business Times article will translate to any additional revenue for the group,” the company said.