Stock News: Cosco won 106 mln usd contracts!

Cosco Corp (Singapore) Ltd extended its gains after the company said 51 pct-owned unit Cosco Shipyard Group had secured conversion contracts together worth 106 mln usd. In early trading, Cosco stock was up 0.05 sgd or 2.39 pct at 2.14, with 1.28 mln shares traded. "We expect to see more conversion projects in 2007 as ship owners comply with strict International Maritime Organization safety regulations," Cosco Corp president Ji Hai Sheng said in a written statement. "These conversion projects will contribute significantly to the group's earnings."