Invitation to Triyards roadshow

Publish date: Wed, 26 Sep 2012, 04:59 PM
Dear TRs,

I refer to the spin-off of Triyards Holdings Limited ("Triyards" or the "Company") from Ezra Holdings Ltd.

OCBC is the issue manager for the spin-off and listing of Triyards Holdings Limited ("Triyards" or the "Company") on the SGX-ST (mainboard) by way of Introduction. The listing of Triyards is expected sometime in October 2012.

OSPL has arranged for a briefing by the Company's management to our TRs.


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OCBC Investment Research ("OIR") has prepared reports on both Triyards and Ezra, as attached.



Below is a summary of Triyards by OIR's analyst, Low Pei Han:-

Triyards - Information Summary: With two yards in Vietnam and a fabrication facility in the US, Triyards Holdings Ltd (Triyards) is an engineering and fabrication solutions provider focused on the offshore oil and gas industry. Unlike many shipyards, the group has a strategic focus on the construction of self-elevating units (liftboats), having established a significant track record. Originating from Ezra Holdings which will hold a 67% stake post listing, Triyards may be able to be involved in some of the projects that Ezra undertakes and tap into Ezra's clientele base. The group delivered an average of US$15.9m in net profit each year from FY09-FY11, but 1HFY12 saw a strong performance of US$14.5m.


Many thanks and

Labels: Ezra

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samuelx

OCBC is also handling the introduction of Triyards to SGX, so investors should be aware of any potential bias-ness in their investment reports.

2012-09-27 09:28

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