Ezion Holdings expects to report a “significant decline” in full-year net profit due to the slowdown in the offshore sector.

The Singapore-listed company made the disclosure following a preliminary review of the draft unaudited management results to-date.

“The continued depressed fossil fuel prices have prompted the group’s clients to further tighten their expenditure even in the areas of operating expenditure which are related to extraction and production activities,” Ezion said.

“The