Koh Brothers Eco jumps 17.5% as Catalist-listed unit Oiltek crosses S$1 billion mark
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Shares of Koh Brothers Eco Engineering surged 17.5% after its majority-owned unit, Oiltek, surpassed S$1 billion in market capitalization. KBE's shares rose to S$0.148, while its stake in Oiltek is valued significantly higher than KBE's total market value of S$355 million. Koh Brothers Group also saw a 13.4% increase in shares. Oiltek's growth is attributed to rising oil prices amid Middle East conflicts and its recent announcement of a US$350 million sustainable aviation fuel biorefinery project in Malaysia.
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