Rob Bier has been appointed independent director wef Jan 25
Work experience: Operation executive, TowerBrook Capital LLP, London/Singapore; founder/CEO, SPARCK Hypotheken, Amsterdam; MD, Kensington Mortgages, London
Posts Tagged ‘mermaid’
Mermaid Maritime Public Co – Corporate moves
February 1st, 2011 |
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Mermaid Maritime +2.5%; Uncertainties removed
December 3rd, 2010 |
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Mermaid Maritime (DU4.SG) +2.5% at $0.415 after saying 49%-owned affiliate Asia Offshore Drilling orders 2 jack-up rigs from Keppel Corp (BN4.SG), contract worth US$360 million ($471.1 million), for delivery 2012, 2013.
Mermaid Maritime orders 2 jack-up rigs from Keppel: Corrected
December 2nd, 2010 |
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Mermaid Maritime says 49%-owned affiliate Asia Offshore Drilling has placed orders with Keppel FELS to build two KFELS B Class jackâ€up rigs worth US$360 million ($472.4 million).
The two jackâ€up rigs are scheduled for delivery in 2012 and 2013 respectively.
Mermaid Maritime off 4.6%; DBS Vickers cuts FY11 view
November 29th, 2010 |
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Mermaid Maritime (DU4.SG) down 4.6% at $0.415 vs $0.40 intraday low, volume moderate at 1.2 million shares; fall comes after as oil & gas drilling group reports THB456.1 million ($19.9 million) FY loss.
Mermaid Maritime off 4.6%; Subsea unit weighs
November 29th, 2010 |
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Mermaid Maritime (DU4.SG) down 4.6% at $0.415 as oil & gas drilling group reports THB456.1 million ($19.9 million) loss for FY ended September vs THB714.5 million profit year earlier, warns of continued drag on bottomline by subsea unit.
Nov 29: Kim Eng, Mapletree Logistics, Mermaid Maritime, Z-Obee, Serial System
November 29th, 2010 |
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Singapore shares may see a weak start on Monday after Wall Street fell on Friday, but news of an 85 billion euro ($148.6 billion) rescue package for Ireland may lend some support. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.04% on Friday to 3,158.08 points, say Bloomberg and Thomson Reuters.
Palm-oil producers: Crude palm oil for February delivery slipped 0.1% in Kuala Lumpur on Nov. 26, snapping its two-day 5.1% advance. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, dropped 0.7% to 73.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s largest noodle maker, declined 3.3% to $2.66. Wilmar International (WIL SP), the world’s No. 1 palm-oil trader, was unchanged at $6.08.
Mermaid up on likely plans to build rigs
October 22nd, 2010 |
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Offshore oil and gas services provider Mermaid Maritime <MMPC.SI> rose as much as 5.5% on Friday after it announced plans to enter a joint venture with a unit of Keppel Corp <KPLM.SI> to build two jack-up rigs worth US$360 million ($468 million).
At 9:54 a.m., Mermaid shares were trading at $0.475 on a volume of 4.6 million shares. The stock has fallen about 44% so far this year.
Mermaid said it had entered a letter of intent with the subsidiary of Keppel Offshore and Marine to build two jack-up rigs with options for another two.
“Letter of intent is not confirmed, but most likely it is likely to be done. This stock has performed quite poorly, so any good news will be enough to lift the share price by a little bit,” said a local trader.
If the options are exercised, the total value of the deal could rise to above US$700 million, the firm said in a statement.
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Mermaid Maritime, Keppel FELS Shipyard sign Letter of Intent
October 22nd, 2010 |
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Mermaid Maritime PCL said it signed a letter of intent with Keppel FELS Shipyard for the construction of two jack-up rigs worth about US$360 million ($468.4 million). The contract also includes options for another two rigs and could be worth a total of more than US$700 million, Mermaid Maritime said today in a statement to the Singapore stock exchange.
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Mermaid Maritime upgraded to ‘hold’ by DBS
October 6th, 2010 |
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DBS Vickers Securities in an Oct 4 research report says: “Mermaid has corrected 34% since our contrarian downgrade in May 2010. At current level, the stock is trading at a 59% discount to peers on P/B basis.
Mermaid Maritime upgraded to Hold by DBS Vickers
October 4th, 2010 |
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DBS Vickers upgrades Mermaid Maritime (DU4.SG) to Hold from Fully Valued, raises target price to $0.52 from $0.32, based on 0.8x FY10 P/B vs P/E methodology previously, says Dow Jones.
DBS Vickers notes stock trades at 59% discount to peers on book basis after recent sell-off driven by bigger-than-expected 2Q10 loss.
“We believe the negatives have been priced in, and investors should not ignore the value in Mermaid’s quality subsea assets,” says the broker.
Mermaid Maritime Public Co – Corporate moves
September 23rd, 2010 |
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Stephen William Davey has been appointed ED wef Sep 16
Work experience: Independent strategy consultant, United Kingdom & Eastern Europe; commercial director, CTC Marine Projects Ltd, United Kingdom
Mermaid disposes stake in Allied Marine & Equipment Sdn. Bhd. for $16.6m
July 12th, 2010 |
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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.
“The Little Mermaid†Live-Action Movie
July 9th, 2010 |
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Atonement director Joe Wright thinks “it’s better down where it’s wetter.” Those of us itching for a little ’80s nostalgia at the box office, will be pleased to learn that The Little Mermaid is headed back to theaters. And this time, Ariel’s getting more than human legs — she’s making the movie from animated to [...]
Mermaid Maritime’s target cut to $0.70 by UOB KayHian
June 25th, 2010 |
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UOB KayHian has cut Mermaid Maritime’s (DU4.SG) target price to $0.70 from $1.30 after changing valuation basis to 1.0x P/B from 11.0x FY11 P/E, says Dow Jones.
Lowers FY10-12 net profit estimates by 141%, 71%, 69% respectively to reflect loss of earnings from KM-1 rig, which oil drilling group recently sold for US$7.4 million ($10.3 million) loss.
Mermaid Maritime off 4.9%; Earnings view dims
June 23rd, 2010 |
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Mermaid Maritime (DU4.SG) below $0.50 for first time in almost 3 weeks, off 4.9% at $0.490 in active trade, extending yesterday’s 8.0% loss, on continued unease over earnings outlook, says Dow Jones.
This after oil drilling firm sold its KM-1 tender rig project for US$66.6 million ($92.4 million) to Malaysia’s Kencana Petroleum (5122.KU), incurring US$7.4 million loss. Company disposing rig (ordered in 2007 but still under construction) in bid to cut losses, citing delay in construction, cost overruns.
Mermaid Maritime off 7.1%; Books loss from rig sale
June 22nd, 2010 |
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Mermaid Maritime (DU4.SG) down 7.1% at 2-week low of $0.52 in active trade as oil drilling firm books US$7.4 million ($10.2 million) loss from sale of its KM-1 tender rig project to Malaysia’s Kencana Petroleum (5122.KU) for US$66.6 million, says Dow Jones.
Company disposing rig (ordered in 2007 but still under construction) in bid to cut losses, citing delay in construction, cost overruns.
June 22: NOL, Wilmar, Yangzijiang, Sembcorp, Sound Global, Mermaid Maritime
June 22nd, 2010 |
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Singapore’s benchmark Straits Times Index gained 1.84% on Monday to 2,885.64 points. The Singapore market will likely lose ground after US stocks succumbed to late-day selling on Monday as hopes China’s newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing’s intentions.
Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, fell 3.5% in London yesterday, taking it 17-day loss to 38%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, climbed 4% to $1.55. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, gained 3.7% to 28 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 3.3% to $13.36. The company said it plans to invest 165.9 billion won ($189 million) to build bulk carriers.
Mermaid takes delivery of newbuild DP2 dive support vessel Mermaid Endurer
June 7th, 2010 |
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Mermaid Maritime Public Company says wholly-owned subsidiary, Mermaid Offshore Services, the provider of subâ€sea engineering services to the offshore oil and gas industry, has taken delivery of the newbuild DP2 Dive Support Vessel (DSV) Mermaid Endurer from its shipyard in Bergen, Norway.
June 7: Financial stocks, Parkway, F&N, TPV, CapitaLand, Mermaid Maritime
June 7th, 2010 |
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Singapore’s benchmark Straits Times Index rose 0.5% to 2,806.51 points on Friday.
The Dow Jones industrial average <.DJI> fell 3.2% 9,931.97 points on Friday. The Standard & Poor’s 500 Index <.SPX> dropped 3.44%, while the tech-heavy Nasdaq Composite Index <.IXIC> slumped 3.64%.