Stock News: Pan-United Marine secured 35.8 mln sgd contract!

Pan-United Marine Ltd may gain after it secured a new shipbuilding contract worth about 35.8 mln sgd from HM2 Pte Ltd, unit of Hallin Marine Subsea International Plc. The vessel is expected to be delivered in the fourth quarter of 2008. The company also announced that its first quarter net profit surged to 21. 75 mln sgd from the year ago's 3.32 mln, driven by gains of 16.1 mln sgd from the sale of livestock carrier Rodolfo Mata. First-quarter revenue jumped 63 pct to 73.69 mln sgd. Pan-United closed 0.01 sgd lower at 0.86 on Friday.