Mermaid Maritime Public Company says it has agreed to sell its 25% shareholding in Worldclass Inspiration Sdn. Bhd. (WCI) to Georgia Attraction Sdn. Bhd., the other shareholder of WCI for about US$12 million ($16.6 million).
WCI is an investment holding company whose sole asset is 90% of the shares in Allied Marine & Equipment Sdn. Bhd., a Petronas licensed provider of subsea engineering services to the offshore oil and gas industry incorporated in Malaysia.
Ezra Holdings, the support and marine services provider in the offshore oil & gas (O&G) sector, says it Deepwater Subsea division’s has clinched its first inspection, maintenance and repair contract worth US$12 million ($16.6 million).
Under the contract, Ezra will provide inspection, maintenance and repair services to support subsea work on an existing production field of a national oil company in the region.
Ezra says the long-term charter will start immediately.
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Builder Low Keng Huat (Singapore) says it posted a 28% rise in net profit attributable to equity holders to $16.6 million for the three months ending Oct 31, 2009, from $12.9 million a year ago mainly due to higher construction profit and investment gain. This was however offset by lower profit from hotels.
