Charisma

Charisma: Had a series of corporate announcements yesterday. The first, it secured a contract worth US$180m over 15 years to lease 11 sets of hydro-electric power generation equipment to supply power to a national utility board in South Asia. The lease is expected to commence 2Q14 The second is the sales contract secured for delivery of a rig. The transaction is expected to be completed in 2Q14 and is expected to contribute a net profit of ~US$7m. The above 2 transactions are expected to have a positive impact towards NTA and EPS in FY14. Meanwhile, it has also terminated a contract to provide a rig to support contract with a SE Asian based national oil company based in the Andaman Sea.