Mermaid Maritime wins $4.9m contract in Indonesia
Wednesday, February 1 2012 - 02:30 AM WIB
Singapore-listed firm Mermaid Maritime Limited announced that its subsidiary MTR‐1 (Singapore) Pte. Ltd., has secured a letter of award with an international upstream oil and gas company for accommodation barge support services in Indonesia utilizing the ?MTR‐1?
The mobilization is scheduled for early April 2012 for contract award for a term of 150 days and has a potential value of US$4.9 million, Mermaid said in a statement.
Assuming that the contract had commenced and had been completed within the most recent financial year (the company?s last financial year ended 30 September 2011), the performance by contract would have increased the earnings per share of the company for that financial year and the net tangible assets per share of the company for that financial year, the statement said.
None of the directors or controlling shareholders of the company has any interest, direct or indirect, in the contract. There are also no new directors proposed to be appointed to the company in connection with the contract.
Editing by Roffie Kurniawan