Ezion

Ezion: Order win momentum continues, with grp annoucing that it has been awarded a LOI from a South East Asian Statelinked corp for the charter of one unit of Liftboat over a 4 yr period with an approximate contract value of up to US$116.8m.The Liftboat is expected to be deployed in the waters of South East Asia upon its completion around the end of 2014. The charter is expected to commence in 1Q15 and is not expected to have a material impact on the Group’s EPS or NTA for FY13. Majority of street has Buy Call on the counter, with 10 Buys and 1 Sell and a Mean TP of $2.03, although we do not rule out further upward rerating to TP’s if grp continues its orderwin momentum.