Stock News: Pan United Marine secured 49.5 mln usd contract!

Pan-United Marine Ltd said it has secured a 49.5 mln usd contract to construct a specialized offshore support vessel with 180-metre diving support at its Batam shipyard. Delivery is scheduled for the third quarter of 2008. The latest contract brings the company's orderbook to above 470 mln sgd. "While this contract is expected to contribute positively to the company's earnings, it is not expected to have any material effect on the earnings per share and net tangible asset value per share of the group for the current financial year to December," Pan-United said in a statement. Pan-United Marine yesterday closed off 0.01 sgd at 0.69.