JES

JES: Recall grp announced that it had entered into a shipbuilding contract for one PSV unit. This is the Group’s second contract since it expanded its shipbuilding business into the O&G industry. The first order for a PSV was announced on 8 Oct12. The second contract was secured from the same customer based in Norway, and is also scheduled for delivery at FY14. JES said it has also entered into contracts for the construction of two additional PSVs, which shall only become effective in the coming mths. Grp note that this is an encouraging start to our move into the offshore space, and strives to secure more contracts to build a strong presence for ourselves in the offshore space.