Ezion

Ezion: UOB Kay Hian maintains Buy with $2.40 TP. Note that Ezion has secured two new charter contracts and approvals for its marine supply base in Australia in March. Raise o 2013-15 earnings forecasts by 6-13%, but target price remains at $2.40 after factoring in a 5% EPS dilution from a placement of 50m new shares. Expect Ezion to clinch more charters following its recent breakthroughs in Indonesia, Malaysia, Vietnam and India.