Singapore Stock Picking

Jaya might have chance to breakout upside from 68.5 cents resistance. It has good volume recently. Not an inducement to trade. Next resistance is 70-70.5 cents.

Company Profile :

Founded in 1981 as a tug and barge operator with a single vessel under Java Marine Lines Pte Ltd, the business grew rapidly as a whole slew of new vessels was added, including offshore support vessels (OSVs), through the Eighties and Nineties. Jaya Holdings Ltd was subsequently established as a holding company and listed on the Singapore Exchange in 1992.

Jaya began its shipbuilding operations in 1993 with the purchase of an existing shipyard in Singapore (Jaya Shipbuilding and Engineering Pte Ltd) and the development of a new shipyard on the Indonesian island of Batam (PT Jaya Asiatic Shipyard).

Today, Jaya owns and operates a fleet of approximately 30 OSVs. These OSVs are chartered out to the Group's wide network of clients, who operate them in various parts of the world - in particular those in the offshore oil and gas industry in the Asean region and in the Middle East.

The Group is also an established and well-known builder of OSV's, intended both for its own charter fleet as well as for sale to outright purchasers.