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Singapore Shares Close in Red; Dyna-Mac Stock Balloons 24% on Securing Two Contracts Worth Nearly $66 Million

MT Newswires ·  {{timeTz}}

05:41 AM EDT, 04/26/2022 (MT Newswires) -- Singapore's Straits Times Index opened higher on Tuesday, tracking overnight gains on Wall Street, but slipped back into the negative territory at the close as investors scrambled to recover from the previous day's rout.

During the day, the benchmark index ranged between 3,322.05 and 3,350.44 and ended 0.53%, or 17.54 points, lower at 3,3322.05.

In corporate news, Dyna-Mac Holdings (SGX:NO4) clinched two new contracts worth SG$90.3 million ($65.9 million) from new and repeat customers, sending the company's shares up more than 24% at market close on Tuesday.

Olam Group's (SGX:VC2) shares slipped 1% on Tuesday's close, as its unit Olam Food Ingredients agreed to acquire Canada-based coffee roasters and packaging solutions provider, Club Coffee, at an enterprise value of CA$150 million ($117.9 million).

Thai Beverage (SGX:Y92) closed nearly 3% lower on Tuesday, as its subsidiary, SEA Logistics & Technology, acquired 51 million new shares, or a 51% stake, in ChyData for $25.5 million.

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