Maybank Kim Eng said robust activities in rig-building would filter down the value chain and it is time to start looking at the smaller offshore support services companies, many of which are trading at single-digit price-earnings ratios.

Maybank’s top pick is Ezion Holdings due to the company’s expected earnings per share compound annual growth rate of 36 percent over the next three years.

In the offshore construction space, Ezra Holdings and Swiber Holdings have accumulated strong order books, Maybank said.

The broker also highlighted module fabricators like Dyna-Mac Holdings and Technics Oil and Gas, as well as offshore support vessel builders and charterers who may be potential beneficiaries.