Kruez: secured a subsea installation contract worth approximately US$7.6 with a leading offshore construction co. in the middle-east. Scope comprises mainly of subsea installation works, schedule to be completed by Q2 2011. We note that this is Kruez’s first contract win in 3 mths after its listing on SGX.Current orderbook stands at approx. $173.8m vs FY09 rev at $69.3m....
Technically, near term resistance appears to be at $0.47, with immediate support at $0.425.
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