Singapore: UOB Kay Hian issued an Oil Services sector note this week advising investors where to put their money in 2013 with Ezion, Nam Cheong and Kreuz coming out top.
Ezion was a stand out due to booming demand as liftboats and service rigs gain NOC acceptance, while Nam Cheong will benefit from an upswing in Malaysia’s demand for offshore support vessel (OSV) newbuilds as well as a regional shortage of platform supply vessels. Lastly Kreuz is expected to clinch US$200m of new contracts in 2013, up 29% from 2012.
UOB Kay Hian’s oil service universe of eight stocks appreciated by an average 55% in 2012. [04/01/13]