FU YU Corporation’s business update at the end of November, accompanied by a media briefing on the same day, was a positive surprise for the market.

Under new chief executive David Seow, Fu Yu : F13 0% is implementing fresh initiatives to revitalise the company. Shareholders sent the stock up 3.3 per cent that same day.

It closed on Wednesday (Dec 13) at S$0.134, up 8.9 per cent since the announcement, giving the company a market capitalisation of S$101.4 million.