Ezion

Ezion: CEO Chew Thiam Keng is confident that Ezion can clinch some 8-12 contracts per year, maintaining the driving force in the underserviced liftboat market. CEO further contrasts that in N.America, there is 250 liftboats servicing 3,257 oil-producting platform, but in SEA and MENA, a total of 62 liftboats service 3,266 platforms, with low penetration rate presenting tremendous opportunities. Ezion has fairly quickly introduced the concept of converting old jack-up rigs into liftboats, as that can be deployed fairly quickly. CEO maintains bullishness, hence guides retained earnings will be reinvested rather than be paid in dividends. Also guides barriers to entry are high as tailored changes were required to ensure liftboats suited conditions in Asia. Although Chew believes competition are years behind, he welcomes them as this could accelerate consumer-education.