Seatrium Ltd's stock surged 3.24% intraday as investors reacted positively to the company's strategic announcements.

The offshore and marine engineering group revealed plans to divest multiple non-core assets, including tugboats, floating docks, and yards, which are expected to deliver over S$50 million in annual operational cost savings by early 2026. These disposals are part of Seatrium's strategy to streamline its asset base, enhance cost efficiency, and focus on core businesses.