Ezion to ride recovery in oil & gas sector

SINGAPORE (Dec 23): An oil price rebound and the resumption of service rigs that are currently under repair or upgrade are expected to lead the way for an earnings recovery for Ezion Holdings in 2017.

In addition, Ezion’s recent venture into offshore windfarm could be a medium-term growth engine, according to DBS Group Research.

Ezion in 3Q saw earnings fall 69.1% to US$9.4 million ($13.2 million) on lower revenue. Earnings was about a third of the US$30.4 million reported in the same quarter a year ago.

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