Ezion Holdings (5ME.SG) +2.2% at $0.705 as company’s active expansion in Australia supportive, says Dow Jones.

Supplier of rigs, offshore support vessels seeking to secure plot of land in Australia’s Northern Territory to set up second base to provide marine services to companies in offshore oil & gas industry.

Move expected to be completed in 12 months, with announcement coming a week after Ezion announced plan to set up marine supply base in North Western Australia to position itself for business opportunities.

“We believe existing relationships with customers will be cemented with the establishment of a physical presence in the area and forging of new ties with old customers,” says UOB KayHian, which has Buy call with $0.90 target. Immediate resistance at current July high of $0.715 set last week.