XMH

XMH: Secured an aggregate US$3.6m worth of contracts, with a break into the Vietnamese market for a contract with more than 24 units of Mitsubishi marine engines, with the group expecting another 10 units to be secured within the next two months. The second contract is for a low speed Akasaka main engine- also under Mitsubishi’s licensing, which comprises a low speed main engine for use in a Pertamina tanker and scheduled for delivery around Dec 2014. At $0.315, XMH trades at 11.3x trailing P/E and 2.3x P/B.