Singapore shares were slightly higher at the midday on Tuesday, led by rig-builder Sembcorp Marine (SCMN.SI) after it said it won upgrading and newbuild contracts.

By the midday break, the Straits Times Index (STI) <.FTSTI> was up 6.10 points at 3,244.79. The total value of shares traded in the morning session was $663 million, up slightly from $655.2 million on Monday.

“The market is relatively quieter today due to the US holiday. It traded slightly upwards thanks to the outperformance from the offshore and marine sector, due to the contracts win from Sembcorp Marine,” said Ng Kian Teck, an investment analyst at SIAS Research.

 

Sembcorp Marine, the world’s second-largest rig-builder, shares outperformed the broader market and rose 2.1% to $5.25, on a volume of 4 million shares.

 

It said on Monday its subsidiary Sembawang Shipyard has won a contract to built a vessel and three more upgrading contracts worth a total of $215 million.