Friday, September 30, 2011
Kreuz
Kreuz: Announced fourth subsea installation contract win this year worth approximately US$6.23m from a leading offshore company in the oil and gas business located in East Asia. Co’s order wins has increased to over US$100m this year with 48% from third party customers. . The subsea installation works, which shall be performed in Southeast Asia, are scheduled to commence in 4QFY2011 with completion in 2QFY2012. Co is 63% owned by Swiber and trades at approx 4x current P/E.
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