MISC shares surge to a new high

Shares of Malaysia International Shipping Corp Bhd (MISC) surged to a new high yesterday, buoyed by news that the company has secured its second major offshore business contract this year. The news propelled the stock to a high of RM16.70, but weak market sentiment capped much of its early gains as it closed off the day’s high to finish 30 sen higher at RM16.50.