Gaylin

Gaylin: no reason to explain today's +11.5% to $0.58. On Monday, the co set up a new subsidiary in Singapore, GI Offshore Engg, providing mainly engg activities for the offshore O&G industry. In late Mar, the co proposed to acquire 90% of Lv Yang (Tianjin) Offshore Eqpt , which supplies rigging and lifting eqpt, for $3.5m. Separately, Gaylin will not proceed with a previously proposed acq of a South Korean co engaged in the supply of wire ropes and related fittings to Korean customers in the O&M industry.