SINGAPORE (Nov 12): OCBC is maintaining its “buy” rating on Ezion Holdings, calling the company’s third-quarter results ‘decent’ under the current circumstances.

The provider of specialised vessels to the offshore oil and gas industry says third-quarter net profit was down 38.4% year-over-year to US$30.3 million ($43 million). Revenue fell 9.1% to US$86.2 million.

“Lower oil prices have reduced operating expenditure and clients have become more demanding in their requirements,” OCBC says.

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