IEV Hldgs

IEV Hldgs: 30% associate IEV Msia has been awarded a RM262m ($107.8) contract from a major oil and gas operator in South East Asia. The project included the design and production of a wellhead platform and installing a pipeline and host tie-in to existing offshore production facilities. The project will be executed in a strategic alliance partnership with a USA engrg co. Co expects project to commence in Dec 2011 and to be completed by end 2012. IEV trades at current 7.4x P/E with current mkt cap of 64.5m