OFFSHORE oil and gas fabricator Ramunia Holdings Bhd, which is seeking more jobs from Petroliam Nasional Bhd (Petronas), may be on the path to recovery after clinching a job in March and securing a letter of intent from Sarawak Shell Bhd for jobs worth RM150mil.
The Practice Note 17 (PN17) company's share price has risen 8.70% to 37.5 sen year-to-date and was actively traded early last week, spiking at 42 sen last Wednesday. Ramunia slipped into PN17 status on March 1, 2010 after selling the Teluk Ramunia fabrication yard to Sime Darby Bhd for RM530mil cash.