Singapore Stock Market News

Ezion Holdings - Cash Is King

StockFanatic
Publish date: Wed, 30 Apr 2014, 11:17 AM
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The rationale behind Ezion's corporate moves is to stay focused on its liftboat/service rig business. We estimate that with its recent share placement of 110m shares and 2014-16's strong operating cash flows, Ezion could add 16 service rigs to its current fleet of 33 vessels. This could lift 2016-17's annual net profit by 40%.

Maintain BUY. Target price: S$2.62.
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