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Three Shares That Beat the Market Today

The Straits Times Index (SGX: ^STI) starts off the week on a good note with a slight 0.2% climb to 3,283 points despite having only nine shares log some gains during the day. Meanwhile, nine other shares out of the index’s 30 constituents had made losses.

Let’s take a look at some shares that had managed to beat the index today.

The shipbuilder Vard Holdings (SGX: MS7) had jumped by 7.0% to S$1.075 after announcing a contract win last Friday evening. The company had been awarded a NOK1 billion (approximately S$210 million) contract from Island Offshore to build an offshore support vessel that’s based on the Rolls-Royce design. The project is expected to be completed and delivered in the second quarter of 2016.

Island Offshore is a “leading” service provider to the offshore oil & gas industry and currently manages more than 30 young (average age of four years) “high quality vessels.” The company has multinational operations that include Brazil, West Africa, and the North Sea. Island Offshore also has a long-standing relationship with Vard Holdings, having ordered more than 30 vessels from the latter over the years.

It would be nice for Vard Holdings’ investors to know that the company has customers that often return to it, as that could signify strong demand for its services in addition to providing a seal of quality for its work.

Another offshore services provider makes the mark here with BH Global Corporation’s (SGX: B32) shares up 5.3% to S$0.139. The company, which provides electrical products and EIT (electrical, instrumentation, and telecommunication) solutions to companies within the marine and offshore industries, had just revealed last week that it had been awarded new contracts.

The new projects are worth a total of S$18.8 million and helped bring the company’s total order book to S$47 million. While those monetary figures might seem relatively small for a listed company, BH Global’s order book is important for it, considering that its annual revenue over the past few years has been hovering near the S$100 million mark.

Silverlake Axis (SGX: 5CP) joins the other two shares with a 5.3% gain to S$0.995. The company had received strong recognition for its services at the recent Asian Banker Summit 2014 that was held last week from 20-22 May.

Silverlake Axis, which provides “end-to-end universal integrated banking solution[s]to various types of financial institutions, won three awards: 1) the Best Cross-Border Core Banking Implementation Award; 2) the Best Self Service Banking Project Award; and 3) the Vendor Satisfaction Survey Gold Award.

Dr. Raymond Kwong, managing director of Silverlake Axis, commented on the awards: “We are honoured to receive these three prestigious awards. This is a testimony of Silverlake Axis’ exemplary service delivery commitment… These awards are also an acknowledgement of our people’s innovative mindset and delivery excellence.”

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore writer Chong Ser Jing doesn’t own shares in any companies mentioned.