Mencast

Mencast: its Offshore and Engineering division has won two separate contracts extending to 31 Dec 2015 (plus 1 yr option to renew) from units of Keppel Corp for MRO services, which include: underwater inspection and maintenance works, seabed survey inspection, hydrographic survey, side scan sonar survey. Keppel is a long time customer of Mencast. The new contracts are expected to contribute positively to, but have no material impact on Mencast’s financials for FY13. The stock trades at 10.5x P/E.