STX OSV: Announce that it has secured a new contract for the design and construction of a Platform Supply Vessel of PSV 09 design for an undisclosed international customer. The vessel is scheduled for delivery from STX OSV in 2012. With this latest contract, STX OSV will have an orderbook of 50 vessels as at 13 December 2010, out of which, 17 will be delivered in 2012….
We note that at current price, grp trades at undemanding valuations, with an annualized FY10E P/E of 5.2x vs SGX listed pers at 8.9x.
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