Ezion sinks into losses in 2Q and 1H; calls for temporary suspension of trading

SINGAPORE (Aug 14): Ezion, the charterer of service rigs and support vessels to the Oil & Gas industry, has sunk into 2Q17 and 1H17 losses of US$2.6 million ($3.5 million) and US$15.3 million respectively.

Broker's Calls

Recovery outlook shrouded in uncertainty for this offshore support company

SINGAPORE (May 15): UOB KayHian is maintaining its “hold” call on Ezion, recommending investors enter at 28 cents and exiting at 33 cents.


Ezion sinks to 1Q net loss of $18 mil

SINGAPORE (May 12): Ezion has sunk to a 1Q net loss of US$12.7 million ($17.9 million) from $15.5 million a year ago as operating environment in the marine and offshore oil and gas industry remains challenging.

Broker's Calls

What acquisition of remaining 50% stake in JV means for Ezion

SINGAPORE (March 28): Ezion this morning announced that it had acquired the remaining 50% interest in its existing joint venture with Swissco for a total cash consideration of $5 million.

EMAS Offshore faces uncertainty as ongoing concern on Ezra's US Chapter 11 filing

SINGAPORE (March 21): EMAS Offshore says it will be negatively impacted by the United States’ Chapter 11 filing by the company’s ultimate holding company Ezra Holdings to facilitate the restructuring of the group.

Broker's Calls

‘Clear survivors’ emerging from the O&M downturn

SINGAPORE (March 10): UOB Kay Hian says clear survivors to the offshore and marine industry downturn are steadily emerging.

Broker's Calls

Improved cash flow, upcoming rig acquisitions earn Ezion an upgrade

SINGAPORE (March 8): Lim & Tan Securities is upgrading its rating on Ezion Holdings to “hold” from “reduce” previously, mainly because it is now trading at an improved price-to-book value of 0.58x P/B.

Broker's Calls

Ezion gets an upgrade as impairment risks diminish, cashflow improves

SINGAPORE (Feb 28): UOB is upgrading Ezion to “buy” with a target price of 45 cents on improved cash flow situation and expectations of an earnings recovery as the risk of impairments has diminished.


Ezion’s 4Q losses widen to US$66.6 mil

SINGAPORE (Feb 23): Ezion reported a widening of new 4Q losses to US$66.6 million from US$63.5 million a year ago on the back of a 14.3% fall in revenue to US$72.6 million.

Broker's Calls

Seize the day with a beaten-down stock in the midst of sector recovery

SINGAPORE (Jan 16): OCBC Investment Research has upgraded its call on Ezion Holdings from “hold” to “buy” with a fair value estimate of 54 cents.