Ezra inks US$200m deal with South Korean clients

It's actually contract-winning streak.

According to OCBC, Ezra Holdings (Ezra) announced that it has secured two contracts worth about US$200m from major South Korean clients.

Here's more from OCBC:

Its subsea division won a contract by STX Offshore & Shipbuilding for the engineering, procurement, construction, installation and commissioning (EPCIC) of a turret mooring and subsea system for use in offshore Africa.

The engineering and procurement work will commence immediately with offshore execution in 2015. Separately, the subsea division also entered into an agreement with DSME for one of its accommodation and hook-up support vessels, also for Africa.

With these contracts, we estimate Ezra’s subsea net order book to be around US$900m-US$1b. The industry outlook remains bright and the group has a total bid book of US$4.4b, in which a significant portion is expected to be awarded in FY13.