SINGAPORE (Oct 26): OCBC is keeping Ezra at a ‘hold” with 16 cents fair value as it posts another soft quarter and remains in restructuring mode.

Ezra reported a 22% y-o-y rise in revenue to US$147.4 million but saw a net loss of US$7.8 million in 4QFY15, compared to a net profit of US$11.0 million in 4FY14.

As Ezra will be selling its 50% stake in its subsea business to Chiyoda, certain subsidiaries and associated companies related to the subsea division have been classified as discontinued operations.

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