One Stop Report

7/31/2019 One Stop Report

1/26

OneSource One-Stop Report

Merm aid Mari t im e Public Com pany Lim ited

12 June 2012


2/26

Merm aid Mar i t ime Public Compa ny Lim i ted

Floor 9, Orakan Building26/28-29 Soi Chitlom,Phloenchit RoadLumphini, PathumwanBangkok, 10330Thailand

Tel : 66-22-553115Fa x : 66-22-551079

www.mermaid-maritime.com

Em pl oye e s : 500Com pa n y Ty pe : Public SubsidiaryCor p o r a t eFa m i l y :

23 Companies

Ul t i m a t e Pa r e n t : Thoresen Thai Agencies PublicCo. Ltd.

Tr a d e d : Singapore ExchangeSecurities Trading:

DU4

I n c or p o r a t i onD a t e :

1983

Audi tor : PricewaterhouseCoopers ABASLimited

Financia l s in : USD (mil)

Fisca l Year End: 30-Sep-2011Re por t i ng Cur r e nc y : Thai BahtAnnual Sa les : 183.4 1

N e t I n co m e : (5.5)Tota l Asse t s : 550.2 2

M a r ke t Va l ue : 5.9(01-Jun-2012)

Business Descr ip t ion

Mermaid Maritime Public Company Limited is a holding company. The Company, along with its subsidiaries, provides a range of services to the offshore oil and gas industries. The services include sub-sea engineering and inspection by divers and remotelyoperated vehicle (ROV) systems, non-destructive testing, and ownership and operation of a fleet of offshore service vessels andtender drilling rigs. The Company is a subsidiary o f Thoresen Thai Agencies Public Company Limited. The Company operates intwo divisions: Subsea Engineering Services Division, which comprises Mermaid Offshore Services Ltd., Nemo Subsea AS, SubtechLtd., and Seascape Surveys (Thailand) Ltd., Seascape Surveys Pte. Ltd., and PT Seascape Surveys Indonesia (collectively MOS),and an Offshore Drilling Services Division, which comprises Mermaid Drilling Ltd. and its two rig-owning subsidiaries, MTR 1(Singapore) Pte. Ltd. and MTR-2 Ltd. (collectively MDL). For the three months ended 31 December 2010, Mermaid Maritime PublicCompany Limited's revenues increased 3% to BAH1.11B. Net loss totaled BAH187.7M, vs. a profit of BAH116.4M. Revenuesreflect an increase in service income. Net loss reflects the presence of lower gross profit margin, a decrease in other income,higher administrative expenses, and an increase in finance cost. The company provides service to offshore oil and gas industries.Source: Reuters

I n d u st r y

I n d u st r y Oil Well Services and EquipmentANZSI C 200 6 : 1011 - Petroleum ExplorationNACE 2002: 7420 - Architectural and engineering activities and related technical consultancyNAI CS 200 2 : 213112 - Support Activities for Oil and Gas Operations

US SI C 1 9 87 : 1382 - Oil and Gas Field Exploration Services

Ke y Exe c u t i ve s

N a m e Ti t le Sou r ceBruce M. Gemmell Chief Executive Officer ReutersVincent Siaw Company Secretary ReutersNathan Williams Group Operations Director ReutersGraham Edward Cooper Commercial Director of Mermaid Offshore Services Ltd. ReutersDenis William Welch Chief Executive Officer Global Data

Si gn i f i c a n t De v e l opm e n t s

Top i c # * M ost Re ce n t H e a dline Da t e

Officer Changes 2 Mermaid Maritime PCL Announces Appointment Of Chief Executive Officer 16-Jan-2012

Bus iness Deal s 5 Mermaid Maritime PCL Secures Drilling Contract Award For MTR-2 In Ind onesia 15-May-2012

EquityInvestments

1 Asia Offshore Drilling Ltd Completes Private Placement; Mermaid Maritime PublicCompany Limited and Seadrill Limited Subscribe for Shares in Company

1-Jul-2011

Divi dends 1 Mermaid Maritime PCL Does Not Declare Dividend 15-May-2012

* number of signif icant developments within the last 12 m onths

OneSource One-Stop Reports for Mermaid Maritime Public Company Limited

Page 2


3/26

N e w s

Tit l e Da t eMermaid receives drilling contract for MTR-2 in IndonesiaDatamonitor LogisticsWire (129 Words)

30-May-2012

Mermaid Maritime signs $4.9 million barge contract with Chevron in IndonesiaDatamonitor LogisticsWire (231 Words)

23-Feb-2012

Mermaid's AOD announces private placementThe Business Times (308 Words)

9-Jun-2011

Mermaid in bid to boost market valueThe Business Times (349 Words) 7-Jun-2011Keppel Fels bags $474m rig contractThe Straits Times (406 Words)

3-Dec-2010

F i n a n ci a l S u m m a r y

A s o f 3 1 - M a r - 2 0 1 2

Ke y Ra t ios Com p a n y I n du st r y

Current Ratio (MRQ) 5.34 2.40Quick Ratio (MRQ) 5.14 1.50Debt to Equity (MRQ) 0.34 0.46Sales 5 Year Growth 11.84 20.02

Net Profit Margin (TTM) % 0.95 9.10Return on Assets (TTM) % 0.31 6.26Return on Equity (TTM) % 0.27 11.31

Source: Reuters

Stock Snapshot

Tr a d e d : Singapore Exchange Securities Trading: DU4

A s of 1 - Ju n - 2 0 1 2 Financials in: S GD

Recent Pr ice 0.24 EPS -0.00155 2 W e e k H i gh 0.38 P r ic e / S a le s 0.845 2 W e e k Lo w 0.22 Di v i d e n d Ra t e 0.02Avg . Vo l um e ( m i l ) 0.76 P r i ce / E a r n in g s 196.18M a r k e t Va l u e ( m i l) 188.34 P r ic e / B oo k 0.38

Be t a 2.10

Pr ice % Ch a n ge Re l S& P 5 0 0 %4 We e k -22.58% -15.67%1 3 We e k -26.15% -19.48%5 2 We e k -28.36% -17.53%Ye a r t o D a t e 0.0000% -3.61%

Source: Reuters

1 - Profit & Loss Item Exchange Rate: USD 1 = THB 30.2 3048 2 - Balance Sheet I tem Exchange Rate: USD 1 = THB 31.0 85

K ey I D SM N u m b e r : 46051799

1983-2012 Reuters Research Inc. All Rights Reserved.Copyright 2012 Graham & Whiteside Limited

2012 GlobalData. All Rights Reserved.Copyright 2012 LexisNexis. All Rights Reserved.


Page 3


4/26

Copyright 2012 Business Monitor International Ltd. All rights reserved.Currency conversion provided by XE.com. Terms and privacy policy can be found on xe.com

Published by OneSource Information Services, Inc., 2012


Page 4


5/26

Merm aid Mar i t ime Pub l ic Compa ny L im i ted Corporate Overview

Locat ion Floor 9, Orakan Building26/28-29 Soi Chitlom, Phloenchit RoadLumphini, PathumwanBangkok, 10330Thailand

Tel : 66-22-553115Fa x : 66-22-551079www.mermaid-maritime.com

Quo t e Sym bo l - Exc ha ngeDU4 - Singapore Exchange Securities

TradingSales THB(mi l ) : 5,542.8Asse t s THB(mi l ) : 17,104.1Em pl o ye e s : 500Fisca l Yea r End: 30-Sep-2011

K ey I DSM

:46051799

I n d u st r y : Oil Well Services andEquipment

I nc o r por a t i on Da t e : 1983Com pa ny Type : Public SubsidiaryQuoted Sta tus : QuotedChief Execut iveOff icer :

Bruce MGemmell

Com pa ny W e b L i nks

Company Contact/E-mail

Corporate History/Profile

Employment Opportunities

Executives

Financial Information

Home Page

Investor Relations

News Releases

Products/Services

Content s

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

I ndus t ry Codes

ANZSIC 200 6 Codes:

6240 - Financial Asset Investing

1011 - Petroleum Exploration

NACE 200 2 Codes :

7415 - Management activities of holding companies

7420 - Architectural and engineering activities and related technical consultancy

NAI CS 2 0 02 Code s:

213112 - Support Activities for Oil and Gas Operations

551112 - Offices of Other Holding Companies

US SI C 1987 :

6719 - Offices of Holding Companies, Not Elsewhere Classified

1382 - Oil and Gas Field Exploration Services

UK SIC 2003 :

74206 - Engineering related scientific and technical consulting activities

7415 - Management activities of holding companies

Business Descr iption

Mermaid Maritime Public Company Limited is a holding company. The Company, along with its subsidiaries, provides a range of services to the offshore oil and gas industries. The services include sub-sea engineering and inspection by divers and remotelyoperated vehicle (ROV) systems, non-destructive testing, and ownership and operation of a fleet of offshore service vessels andtender drilling rigs. The Company is a subsidiary of Thoresen Thai Agencies Public Company Limited. The Company operates in twodivisions: Subsea Engineering Services Division, which comprises Mermaid Offshore Services Ltd., Nemo Subsea AS, Subtech Ltd., andSeascape Surveys (Thailand) Ltd., Seascape Surveys Pte. Ltd., and PT Seascape Surveys Indonesia (collectively MOS), and anOffshore Drilling Services Division, which comprises Mermaid Drilling Ltd. and its two rig-owning subsidiaries, MTR 1(Singapore) Pte.Ltd. and MTR-2 Ltd. (collectively MDL). For the three months ended 31 December 2010, Mermaid Maritime Public Company Limited'srevenues increased 3% to BAH1.11B. Net loss totaled BAH187.7M, vs. a profit of BAH116.4M. Revenues reflect an increase in serviceincome. Net loss reflects the presence of lower gross profit margin, a decrease in other income, higher administrative expenses, andan increase in finance cost. The company provides service to offshore oil and gas industries.

Source : Reu te r s


Page 5


6/26

More Bus iness Descr ip t ions

Provision of oilrig tender and sub-sea engineering servicesSource : Graham & Whi te s ide

Holding Company; Offshore Drilling & Marine Engineering ServicesSource: LexisNexis

Mermaid Maritime through its subsidiaries, engages in providing wide range of services to offshore oil and gas industries. The servicesoffered by the company include sub-sea engineering and inspection by divers and remotely opera ted vehicle systems, ownership andoperation of a f leet of offshore service vessels, tender drilling rigs and non-destructive testing. The group operates throughout SouthEast Asia, primarily in Thailand, Malaysia and Indonesia. It has recently expanded the provision of sub-sea engineering services toChina, Middle East, India, Sakhalin, the Brazil and the United Kingdom Continental Shelf. The Company's subsidiaries include MermaidOffshore Services Ltd., Seascape Surveys (Thailand) Ltd., Seascape Surveys Pte. Ltd., Mermaid Drilling Ltd., Mermaid Training andTechnical Services Ltd. and Mermaid Drilling (Singapore) Pte. Ltd. Mermaid Maritime operates its business through two divisionsnamely, Drilling Services and Subsea Engineering Services.The company through its majority-owned subsidiary Mermaid DrillingLimited (MDL), provides tender rig drilling services. Currently, MDL owns two tender drilling rigs MTR-1 and MTR-2. In addition, thecompany also has one new build tender drilling rig under construction owned by another majority-owned subsidiary, Mermaid KencanaRig 1 Pte. Ltd. ( MKR-1 ). The company expands its drilling services further, In october 2010 the company signed agreement withKeppel Off shore & Marines subsidiary Singapore Keppel FELS Ltd of worth $ 360m to build two jack up rigs through a Mermaid led

joint venture. During the fisca l year 2010, the compa nys Dr illing Services segment contribu ted 31% of total revenue.Merma idMaritime provides sub-sea engineering services through its wholly owned subsidiary, Mermaid Offshore Services Ltd. ( MOS ). MOS isengaged in providing, repair and maintenance services, sub-sea inspection, light construction services, and emergency repair and callout services. It takes pride in being the leading provider of sub-sea engineering services to the offshore oil and gas industry in theregion. MOS's existing fleet consists of eight sub-sea vessels, half of which a re specialized dive support vessels. It opera tes its vesselsas part of a one stop solution utilizing a highly skilled workforce and other key assets, including ten offshore air diving systems, threesaturation diving systems and fourteen remotely operated vehicle systems including deepwater and ultra-deepwater heavyconstruction class systems. In the fiscal year 2010, the division accounts for 59.8% of total revenue.Recently, the company throughMDL, owns two tender drilling rigs MTR-1 and MTR-2, It also owns a fleet of eight vessels through MOS namely, M.V. Barracuda, M.V.Mermaid Commander, M.V. Mermaid Performer, M.V. Mermaid Challenger, M.V. Mermaid Sapphire, M.V. Team Siam, M.V. MermaidAsiana and M.V. Mermaid Endurer. It also signed letter with Keppel Off shore & Marine Limiteds subsidiary Singapore Keppel FELSLimited to build two jack rigs for a new Mermaid-led joint-venture named Asia Off shore Drilling Limited. In July, the companyannounced the disposal of its entire interest in Allied Marine & Equipment Sdn. Bhd. Mermaid Maritime has announced that its whollyowned subsidiary Mermaid Offshore Services Ltd. (MOS), has secured a contract providing Remote Operated Vehicle (ROV) servicesutilizing the newbuild DP2 ROV Support Vessel Mermaid Sapphire and its built in ROV systems. In the same year the company hasannounced that its subsidiary MTR-2 Ltd. has secured a contract a ward with Chevron Indonesia Company (Chevron I ndonesia) toprovide drilling and related services.Source : Globa l Da t a

Mermaid Maritime Public Company Limited (Mermaid Maritime) is a publicly traded rig drilling and sub-sea engineering servicesprovider based in Thailand. Mermaid Maritime provides services to offshore oil and gas industry. The company's sub-sea engineeringdivision has clients in South East Asia, India, China, Sakhlin, the Middle East and South America. It provides sub-sea engineeringservices through its wholly-owned subsidiary, Mermaid Offshore Services Ltd. Mermaid Maritime provides drilling services through itssubsidiary Mermaid Drilling Limited (MDL). Presently, MDL has two tender drilling rigs. In addition, it also has another new build tenderdrilling rig under construction. It expanded its services in the areas of Kuala Lumpur, Malaysia; Jakarta, Indonesia; Qatar, Middle East;

and Singapore. The company is headquartered in Bangkok, Thailand.The company reported revenues of (Baht) THB 3,476.37 millionduring the fiscal year ended September 2010, a decrease of 33.27% from 2009. The operating loss of the company was THB 187.05million during the fiscal year 2010, as against an operating income of THB 964.33 million during 2009. The net loss of the companywas THB 456.08 million during the fiscal year 2010, as against a net profit of THB 714.49 million during 2009.Source : Globa l Da t a

Provides drilling and sub-sea engineering services for the oil and gas industry in the South East Asia.Source: BMI

Financial Data

Financia l s in : THB(mil)

Re ve n ue : 5,542.8

N e t I n co m e : -167.3

Assets: 17,104.1

Long Te r m De b t : 3,413.2

Tota l Liabi l i t i es : 4,761.5

Working Capi ta l : 0.2

Da t e o f F i n a nci a l Da t a : 30-Sep-2011

1 Ye a r Gr owt h

59.4%

NA

-4.1%

Market Data


Page 6


7/26

Quote Symbol : DU4

Exchange: Singapore Exchange Securities Trading

Currency: SGD

Stock Pr ice : 0.2

Stock Pr ice Dat e : 06-01-2012

5 2 W e e k P r ic e Ch a n g e % : -28.4

M a r k e t Va lu e ( m i l ) : 188,339.5

SEDOL: B24FFZ4

I S I N : TH0955010002Equi ty and Dept Dis t r ibut ion:

10/2009, Rights Issue, 9 new shares for every 20 shares held @ SGD 0.64 (Factor: 1.137892).

Subsidiaries

Com p a n y Pe r ce n t a ge Ow ne d Cou n t r y

MTR-2 Ltd 100% THAILAND

Seascape Surveys (Thailand) Ltd 80% THAILAND

Mermaid Drilling Ltd 95% THAILAND

Mermaid Offshore Services Ltd 100% THAILAND

Nemo Subsea AS 100% NORWAY

Seascape Surveys Pte Ltd 80% SINGAPORE

Subtech Ltd 100% SEYCHELLES

PT Seascape Surveys Indonesia 97% INDONESIA

MTR-1 Ltd 100% THAILAND

Asia Offshore Rig 1 Limited 100% BERMUDA


MRT-1 (Singapore) Pte Ltd 100% SINGAPORE

MRT-2 (Singapore) Pte Ltd 100% SINGAPORE

Mermaid Drilling (Malaysia) Sdn Bhd 100% MALAYSIA

Subtech Saudi Arabia Ltd 100% SAUDI ARABIA

Mermaid Offshore Services Pty Ltd 100% AUSTRALIA

Mermaid Offshore Services Pte Ltd 100% SINGAPORE


Shareholders

M a j o r Sha r e ho l de r s

Thoresen Thai Agencies PCL (57.14%); Soleado Holdings Pte Ltd (21.74%); Thailand Equity Fund (15.07%)

Key Corpora te Re la t ionsh ips

Audi tor : PricewaterhouseCoopers ABAS Limited

Audi tor : PricewaterhouseCoopers ABAS Ltd, PricewaterhouseCoopers ABAS Limited

1983-2012 Reuters Research Inc. All Rights Reserved.

Copyright 2012 Graham & Whiteside LimitedCopyright 2012 LexisNexis. All Rights Reserved.

2012 GlobalData. All Rights Reserved.

Copyright 2012 Business Monitor International Ltd. All rights reserved.


Page 7


8/26

Merm aid Mari t im e Public Com pany Limite dThe Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company'sstrategic projects and investments. Mo re ab o u t S t ra teg ic I n i t i a t ive s

St ra t eg ic I n i t i a t ives

Key Organizational Changes

2012 Priorities Mermaid will work towards a number of critical objectives in 2012, some of which are outlined below.People Mermaid needs to recruit certain key people to ensure fit with its future business needs. As Mermaid is notp l a nn i ng t o a c qu i r e any new assets in the next one or two years, the primary objective is to increase marketpenetration in different regions and increase utilisation. Mermaid must focus on developing strong leaders. Theseleadership qualities must be well communicated and reinforced through the performance management and talentassessment processes.Sou r c e : Gl o b a l D a t a , J u n e 1 , 2 0 1 2

Copyright 2012 GlobalData. All Rights Reserved.Published by OneSource Information Services, Inc.,Jun, 2012


Page 8


9/26


Page 9


10/26

Corporate Family Corporate Structure News:Thoresen Thai Agencies Public Co. Ltd.

Mermaid Maritime Public Company Limited

Merm aid Mar i t ime Public Compa ny Limi ted To t a l Co r po r a t e Fa m i l y M e m be r s : 23

Company Name CompanyType

Location Country Industry Sales(USD 000)

Employees Source

Thoresen Thai AgenciesPublic Co. Ltd.

Parent Pathum WanBangkok

Thailand WaterTransportation

581,038.4 1,149 RT

Mermaid Maritime PublicCompany Limited

Holding Bangkok Thailand Oil Well Servicesand Equipment

183,352.2 500 RT

Mermaid OffshoreServices Ltd.

Subsidiary Si Racha, ChonBuri

Thailand EngineeringConsultants

30 LEX

Mermaid OffshoreServices Limited

Subsidiary Pathum Wan,Bangkok

Thailand Business Services 58,189.4 D&B

Mermaid Drilling Ltd. Subsidiary Bangkok Thailand Oil Well Servicesand Equipment

LEX

Mtr - 2 Limited Subsid iary Pathumwan,Bangkok

Thailand MiscellaneousTransportation

32,297.1 20 D&B

Mtr - 1 Limited Subsid iary Pathum Wan,Bangkok


31,447.6 20 D&B

Asia OffshoreDrilling Limited

Subsidiary Si Racha,Chonburi

Thailand Oil Well Servicesand Equipment

LEX

Thor Captain ShippingCo., Ltd.

Subsidiary Bangkok Thailand WaterTransportation

500 LEX

Herakles Shipping Co.,Ltd


300 LEX

Thor Pilot Shipping Co.,Ltd.


200 LEX

Thoresen & Co.,(Bangkok) Limited

Subsidiary Pathumwan,Bangkok


10,870.2 130 D&B

ISS Thoresen AgenciesLtd.

Subsidiary Bangkok Thailand MiscellaneousTransportation

60 LEX

Fearnleys (Thailand)Ltd.


30 LEX

Thor Wave Shipping

Company Limited

Subsidiary Pathum Wan,

Bangkok

Thailand Miscellaneous

Transportation

4,072.2 24 D&B

Chidlom MarineServices & Supplies Ltd.

Subsidiary Si Racha, ChonBuri

Thailand WaterTransportation

15 LEX

Thoresen Shipping FZE Subsidiary Sharjah United ArabEmirates

WaterTransportation

10 LEX

Fearnleys ShipbrokingPrivate Limited

Subsidiary Mumbai,Maharastra

India WaterTransportation

7 LEX

Thoresen ShippingGermany GmbH

Subsidiary Bremen, Bremen Germany WaterTransportation

20,060.0 2 LEX

ISS Thoresen AgenciesLtd

Subsidiary Lumpini,Pathumwan,Bangkok


BMI

Thor Skipper ShippingCo., Ltd.


LEX

Heron Shipping Co.,Ltd Subsidiary Bangkok Thailand Miscellaneous

Transportation

LEX

GAC Thoresen LogisticsLtd.

Subsidiary Chon Buri Thailand WaterTransportation

LEX

Data Noted as Source: RT, 1983-2012 Reuters Research Inc. All Rights Reserved.Data Noted as Source: LEX, Copyright 2012 LexisNexis. All Rights Reserved.Data Noted as Source: D&B, 2012 Dun & Bradstreet, Inc. All rights reserved.

Data Noted as Source: BMI, Copyright 2012 Business Monitor International Ltd. All rights reserved.

Cor po r a t e l i nka ge da t a :Copyright 2012 Business Monitor International Ltd. All rights reserved.


Page 10


11/26

Published by OneSource Information Services, Inc., 2012


Page 11


12/26

Merm aid Mar i t ime Public Compa ny Limi ted

Compet i tors Report

Com pa nyNa m e Loca t i on Em pl oye e s Owne r s h i pAurecon Group Brand (Pte) Ltd Singapore, Singapore 7,000 PrivateAztec Engineering Company Ltd Lampang, Thailand PrivateBluestone Offshore Pte Ltd. Singapore, Singapore 40 Private

CH Offshore Limited Singapore, Singapore 55 PublicEllipse Energy Pte Ltd Singapore, Singapore Private

2012 GlobalData. All Rights Reserved. 1983-2012 Reuters Research Inc. All Rights Reserved.

Pub l i she d by One Sour ce I n f o r m a t i on Se r v i c e s, I nc . , Jun , 20 12


Page 12


13/26


14/26

Educat ion:University of Pennsylvania, BA (International Relations)Wharton School, MBA (Finance)University of Pennsylvania, MA (International Studies)Source: Reuters

Surasak Khaoroptham Non-Executive Director Director/Board Member Reuters

Bi og r a phy

Mr. Surasak Khaoroptham is a Non-Executive Director of Mermaid Maritime PLC since 2006. He is the ManagingDirector of Atlus Advisory Co., Ltd., where he provides financial advisory services to various companies. Prior to this,he was Vice President of Credit Suisse First Boston (Singapore) Pte. Ltd., from 1997 to 2003 and Assistant VicePresident of Phatra Thanakit Public Company Limited from 1995 to 1997. He received a B.S., from King MongkutsInstitute of Technology Ladkrabang in 1986, a Masters in Science from the University of Michigan in 1993, and anM.B.A. from the Wharton School of the University of Pennsylvania in 1995.Source: Reuters Age: 48Source: Reuters Educat ion:University of Pennsylvania, MBA (Finance)University of Michigan, MS (Engineering)King Mongkut's Institute of Technology Ladkrabang, B (Electrical Engineering)

Source: Reuters

Leslie George Merszei Independent Director Director/Board Member Reuters

Bi og r a phyMr. Leslie George Merszei is an Independent Director of Mermaid Maritime Public Company Limited. He is currentlythe Managing Director of Corporate Performance Advisors Ltd., and XJET Ltd., Since 1987, he has provided financialconsulting, investment management, and restructuring advice in the development of commercial, financial andprivate aviation projects in South East Asia. Prior to establishing his own businesses, he worked for 15 years withDow Chemical Company (Dow) where he served as Chief Financial Officer of Dow Europe, as well as Chairman andChief Executive Officer of Dow Financial Services Inc., which had global investment banking operations includingseveral in South East Asia. In 1986, Mr. Merszei was tasked with the sale of the financial services business of Dowand after its sale to the Royal Trust Company; he served as P resident and Chief Executive Officer of Royal TrustInternational for a transitional period. Mr. Merszei graduated from Purdue University in 1969 and received a dualdegree in Chemical Engineering and Political Science.Source: Reuters Age: 64Source: Reuters

Educat ion:Purdue University (Chemical Engineering)Source: Reuters

Chee Keong Ng Independent Director Director/Board Member Reuters

Bi og r a phyMr. Ng Chee Keong is an Independent Director of Mermaid Maritime Public Company Limited. He was appointed tothe Board of Directors in June 2007. He is currently a member of the Management Board of the Centre for MaritimeStudies at the National University of Singapore and a member of the Board of PSA International Pte. Ltd., (PSA).

Mr. Ng joined PSA in 1971 and held various positions, including Group President & Chief Executive Officer, Presidentand Chief Executive Officer for the Singapore Region and Global Head of Technical and Operations Development. Mr.Ng received a Bachelor of Social Science degree in Economics from the University of Singapore in 1971 andgraduated from the Advanced Management Program, Stanford University in 1988 and the Advanced ManagementProgram, INSEAD in 1994. He was awarded the Public Administration Medal (Gold) by the Singapore Government in1997.Source: Reuters Age: 59Source: Reuters

Educat ion:


Page 14


15/26

University of Singapore, B (Economics)Source: Reuters

Pichet Sithi-Amnuai Independent Director Director/Board Member Reuters

Bi og r a phyMr. Pichet Sithi-Amnuai is an Independent Director of Mermaid Maritime Public Company Limited. He is currently thePresident of Bualuang Securities Public Company Limited, prior to which he was its Independent Director andmember of its Audit, Compensation and Remuneration Committees. From 1994 to 2000, he was First Vice President,Corporate Finance Department at Jardine Fleming Thanakorn Securities Limited. He obtained a Bachelor Degree inIndustrial Engineering from Chulalongkorn University in 1987, an M.B.A. from the University of Texas in 1991, and aMaster of Education in Early Childhood Education from Chulalongkorn University in 2006.Source: Reuters Age: 46Source: Reuters

Educat ion:Chulalongkorn University, MUniversity of Texas, MBAChulalongkorn University, B (Industrial Engineering)Source: Reuters

Exe c u t i ve s

N a m e Ti t l e Funct ion Source

Stephen William Davey Executive Director - Mermaid OffshoreServices

Chief Executive Officer BMI

Bruce M. Gemmell Chief Executive Officer Chief Executive Officer Reuters

Bi og r a phyMr. Bruce M. Gemmell has been appointed as Chief Executive Officer of Mermaid Maritime PCL., with effect fromJanuary 16, 2012. His working experience and occupation(s) during the past 10 years are - 2010 - 2011 Chief Executive Officer CSOTL Offshore Ltd., formerly named CUEL Swiber Offshore (Thailand) Ltd., Bangkok, Thailand,2004 - 2010 Operations and Country Manager J. RAY MCDERMOTT, Middle East Inc. & J. RAY MCDERMOTT EasternHemisphere Ltd. Doha, Qatar, 2002 - 2004 Senior Project Manager - Offshore Operations - Eastern Hemisphere J.RAY MCDERMOTT, Middle East Inc., Dubai, United Arab Emirates, 2000 - 2001 Business Development Manager,Global Industries, Inc., Houston, Texas, United States of America.Source: Reuters Age: 50Source: Reuters

Stephen Gregor Lenz Executive Director of Mermaid Drilling Ltd Chief Executive Officer Reuters

Bi og r a phyMr. Stephen Gregor Lenz has been appointed as Executive Director of Mermaid Drilling Ltd., the subsidiary of Mermaid Maritime PLC., with effective May 2, 2012. Mr. Lenz is an industry veteran with more than 30 years of experience in the offshore drilling business. He is well versed in this role, having previously held this position in theCompany for three years from 13 August 2008 to 31 August 2011. He resigned on his own accord following structuralchanges in the Companys investment and operations management of its associate, Asia Offshore Drilling Limited,which was transferred to Seadrill Ltd. The Company has re-appointed him back into this position to continue tomanage and provide leadership for the Companys offshore tender rig business. The Nomination Committee of theBoard, having considered his past leadership in maintaining sound operating standards for the Companys tender rigbusiness, believes that Mr. Lenz's resuming the role will continue the operations and growth of the Companysoffshore tender rig business in a seamless manner. Mr. Lenzs work experience includes three (3) years as ExecutiveDirector of Mermaid Drilling Ltd., two (2) years as Australian Country Manager for Songa Pty. Ltd., two (2) years asRig Manager for Apexindo Pratama Duta Tbk and twenty three (23) years in \ positions including Chief Electrician,Maintenance Supervisor, Rig Manager and Operations Manager throughout Asia for Transocean Inc.Source: Reuters Age: 51Source: Reuters

Denis William Welch Chief Executive Officer Chief Executive Officer GMD

Bi og r a phy


Page 15


16/26

Mr. Welch has been the Chief Executive Officer of the company since 2011. Previously, he served as Chief ExecutiveOfficer of Drydocks World Southeast Asia Singapore and Indonesia from 2008-10. He also served as DirectorIntelligent Engineering United Kingdom and Singapore from 2002-08. Prior to this, he serves as Managing DirectorElectro-Optics Systems Division GEC-Marconi United Kingdom.Source: Global Data Age: 61Source: Global Data

James McGhee Nicol General Manager-Drilling Division Head Executive LEX

Simon Matthew Turner General Manager Mermaid Offshore Services Division Head Executive GMD

Nathan Williams Group Operations Director Division Head Executive Reuters

Bi og r a phyMr. Nathan Williams has been appointed as Group Operations Director of Mermaid Maritime PCL., with effect fromMarch 26, 2012. His working experience and occupation(s) during the past 10 years are - Operations ManagerOceanic Marine Contractors Dubai, United Arab Emirates 2010-2012, Construction Manager J Ray McDermott Dubai,United Arab Emirates 2008-2010, Senior Fabrication Operations Engineer J Ray McDermott Dubai, United ArabEmirates 2007-2008, Offshore Operations Engineer J Ray McDermott Dubai, United Arab Emirates 2003-2007, SeniorField Engineer J Ray McDermott Dubai, United Arab Emirates & Perth, Australia 2001-2002, Williams BusinessConsultancy FZ LLC.Source: Reuters Age: 35

Source: Reuters

David Stewart Simpson Managing Director Managing Director GMD

Scott Campbell Operations Director, Mermaid OffshoreServices Limited

Operations Executive GMD

Vincent Siaw Company Secretary Company Secretary Reuters

Sataporn Amornvorapak Chief Financial Officer Finance Executive GMD

Boris Vujcic Technical - Marketing Manager Marketing Executive BMI

Graham Edward Cooper Commercial Director of Mermaid OffshoreServices Ltd.

Commercial Executive Reuters

Bi og r a phyMr. Graham Edward Cooper is a Commercial Director of Mermaid Offshore Services Ltd., of Mermaid Maritime PCL.

Mr. Cooper joined Mermaids subsea division, Mermaid Offshore Services Ltd., (MOS) in September 2011 as theCommercial Director. As Commercial Director at MOS, Mr. Cooper is responsible for the commercial and marketingactivities of MOS as well as overseeing the integration and growth of the subsidiary businesses of MOS in the MiddleEast and Republic of Indonesia. Mr. Cooper has experience in the offshore marine, oil & gas industry both in seniormanagement and project management positions in different regions, including the Middle East, India and South EastAsia. His last position was as the Group Commercial and Contracts Director at Hallin Marine Pte. Ltd., and prior tothat, he worked as the Commercial Manager at Fraser Diving in the Middle East. Mr. Cooper received anundergraduate degree from Northumbria University in 1980 and a Masters Degree from Hull University in 1998.Source: Reuters Age: 52Source: Reuters Educat ion:Hull University, M

Northumbria UniversitySource: Reuters

Joey Horn Director Other GMD

Mark Andrew Shepherd Director Other GMD

Tom Springall Director Other GMD

Lim How Teck Director Other GMD


Page 16


17/26

Data Noted as Source: BMI , Copyright 2012 Business Monitor International Ltd. All rights reserved.Data Noted as Source: GMD , 2012 GlobalData. All Rights Reserved.

Data Noted as Source: LEX , Copyright 2012 LexisNexis. All Rights Reserved.Data Noted as Source: Reuters , 1983-2012 Reuters Research Inc. All Rights Reserved.

Published by OneSource Information Services, Inc., Jun, 2012


Page 17


18/26


Page 18


19/26

Merm aid Mari t im e Public Com pany Limite d

Signi f icant Developments

M e r m a i d M a r i t i m e PCL Doe s No t De c l a r e Di v i de n dMay 15, 2012

Mermaid Maritime PCL announced that no dividend has been declared for the Period Ended March 31, 2012.

M e r m a i d M a r i t i m e PCL Se cu r e s Dr i l li ng Con t r a c t Awa r d Fo r M TR- 2 I n I ndone s i aMay 15, 2012

Mermaid Maritime PCL announced that its subsidiary MTR-2 Ltd. has secured a contract award with its existing client, an internationalupstream oil and gas company, to provide drilling and related services using the tender drilling rig MTR-2 for the Client's offshore oil andgas fields in Indonesia. The Contract commenced on May 15, 2012, and is back-to-back with the previous drilling contract which endedon May 14, 2012. The duration of this Contract is for six months and has a potential value of approximately USD16.1 million. Uponcompletion of this Contract, the MTR-2 is scheduled to undergo its compulsory special periodic survey, estimated to take approximatelyfour months to complete. The Company has commenced marketing the MTR-2 for further drilling contract opportunities after thecompletion of this special periodic survey.

M e r m a i d M a r i t i m e PCL ' s Sub t e c h Un i t Se c u r e s Subs e a Se r v i c e s Con t r a c t sApr 25, 2012

Mermaid Maritime PCL announced that its business unit Subtech Qatar Diving and Marine Services LLC ("Subtech") has recently beenawarded three new contracts with new and existing clients. The first contract has already started and has an estimated value of USD 2.2million. The second contract will start in early June 2012 with an estimated contract value of USD 3.6 million. Both these contracts will beusing Mermaid's specialized vessel M.V. 'Mermaid Siam' and is together scheduled to cover a period of approximately eight weeks. Thethird contract is for air diving and support services including saturation diving services and is for a period of over two years withcommencement scheduled for May 2012. This contract has a potential value of USD 8.2 million. The combined value of all the abovecontract awards is approximately USD 14 million.

M e r m a i d M a r i t i m e PCL ' s M TR- 1 ( S i nga po r e ) P t e . L t d . Se c u r e s Acc om m oda t i on Ba rge Con t r a c t I n I ndone s i a

Jan 31, 2 012

Mermaid Maritime PCL announced that its subsidiary MTR-1 (Singapore) Pte. Ltd., has secured a letter of award with an internationalupstream oil and gas company (Client) for accommodation barge support services in Indonesia utilizing the MTR-1 (Contract). Theduration of this Contract is for 150 days and has a potential value of $4.9 million.

M e r m a i d M a r i t i m e PCL Announc e s Appo i n t m e n t Of Ch i e f Exe c u t i ve Off i ce rJan 16, 2 012

Mermaid Maritime PCL announced that upon recommendation of the Nomination Committee, which had reviewed the qualification andexperience of Mr. Gemmell, the Board of Directors therefore approved his appointment as the Chief Executive Officer of the Companyfor contribution to the growth and performance of the Company and its subsidiaries.

Mermaid Mar i t ime PCL's Subtech Ltd . Secures Cont rac tNov 18, 2011

Mermaid Maritime PCL announced that its subsidiary Subtech Ltd. (Seychelles), has secured a contract award to provide subseaInspection, Repair, and Maintenance services (IRM) along with Saturation Diving Operations for an end client who is a oil and gascompany with a presence in West Africa (Contract). The duration of this Contract is firm for 120 days and if all options are exercised willbe up to 180 days. The approximate Contract value is USD11.5 million and will commence in December 2011. The 'Mermaid Endurer' is apurpose-built DP2 dive support vessel and light construction vessel, specially designed for operations under severe weather conditionswith high manoeuvrability and station keeping capabilities.

Merm aid Mar i t im e PCL Announces Cessa t ion Of CEO


Page 19


20/26

Sep 21, 2011

Mermaid Maritime PCL announced the cessation of Denis William Welch as Chief Executive Officer (CEO) effective September 30, 2011.

M e r m a i d M a r i t i m e PCL ' s Sub s i d i a r y Se c u r e s Con t r a c tJul 22, 2011

Mermaid Maritime PCL announced that its subsidiary MTR-2 Ltd. has secured a contract award with an international upstream oil and gascompany (Client) to provide drilling and related services using the tender drilling rig 'MTR-2' for the Client's offshore oil and gas fields inIndonesia (Contract). This Contract has received approval by Indonesia's Executive Agency for Upstream Oil and Gas Activity and workunder the said Contract has already commenced. The duration of this Contract is for approximately nine months, and has a potentialvalue of USD26.5 million.

Asi a Off s h o r e Dr i l l ing L t d Com pl e t e s P r i va t e P l a c e m e n t ; M e r m a i d M a r i t i m e Pub l i c Com pa ny L i m i t e d a nd Se a d r i l l L i m i t e dSub s cr i be f o r Sha r e s i n Com pa nyJul 01, 2011

Asia Offshore Drilling Ltd (AOD) announced that the application period for the Private Placement has closed, and that AOD has resolvedto issue 20 million new shares, raising gross proceeds of USD 80 million. The shares to be issued include shares placed in a separatetranche directed towards a limited number of investors subscribing for less than 15,000 shares. The subscription price was set at USD4.00 per each new share, and was determined on the basis of a book-building in the Private Placement. The Company's majorshareholder, Mermaid Maritime Public Company Limited (Mermaid) has subscribed and been allocated USD 14.8 million, corresponding to33.75% of AOD following the Private Placement. In addition Seadrill Limited (Seadrill) has subscribed and been allocated USD 54 million,which will give them an equal ownership of 33.75% following the Private Placement. The proceeds of the share placement will be used to

exercise the first of the two of AOD's fixed-price options for the construction of MOD-V B Class high- specification jack-up rigs withKeppel FELS Ltd. in Singapore. In addition, the funds will be used to increase project management expenses, working capital and selling,general and administrative expenses related to the purchase of the rigs. RS Platou Markets AS, Pareto Securities AS, and SEB EnskildaAS acted as joint lead managers in the Private Placement.

1983-2012 Reuters Research Inc. All Rights Reserved.Published by OneSource Information Services, Inc.,Jun, 2012


Page 20


21/26


Page 21


22/26


23/26

2012 Acquire Media Corporation. Published by OneSource Information Services, Inc., February 2012

Merm aid Mar i t ime signs $4 .9 m i ll ion ba rge con t ract w i th Chevron in I ndonesi a

Da t a m on i t o r Log i s t i cs Wi r e2 3 F e b r u a r y 2 0 1 2

[What follows is the full text of the news story.]

Mermaid Maritime Public Company Limited, a provider of drilling and sub-sea engineeringservices for the offshore oil and gas industry, has concluded an accommodation barge dealwith Chevron in Indonesia worth up to $4.9 million. The 150-day contract will engageMermaid's MTR-1 rig in Indonesian waters in early April 2012.

Mr Bruce Gemmell, CEO of Mermaid, commented, "MTR-1's deployment boosts the utilisationof our tender fleet and stands to make a positive contribution to the bottom line of ourMermaid Drilling business in fiscal 2012. The fact that this deal has been concluded with anexisting client underscores Mermaid's focus on building lasting relationships by consistentlyproviding world-class services to our valued clients across the region, while keeping our eyeson safety and the environment."

Mermaid's drilling interests also extend to recently-formed Asia Offshore Drilling ("AOD").

AOD will take delivery of three modern high specification jack-up rigs in 2013.

"The construction of AOD's three jack-up rigs is progressing well, and market demandremains positive for jack-ups rigs. Increased activity in West Africa, Mexico, and the MiddleEast has pushed utilisation rates up to 96% for modern high-specification jack-up rigs. Thissituation has resulted in higher demand for older jack-up rigs, whose day rates haveimproved to a level that justifies reactivation costs. The demand situation bodes well for AOD,as it has begun marketing of its three rigs." added Gemmell.

Re l a t e d Com pa n i e sChevronTexacoCorporation

[profile]

Mermaid MaritimePublic CompanyLimited

[profile]

Re l a t e d Ge og r a ph i e s

AfricaAsiaMiddle EastNorth AmericaIndonesiaMexico

R e la t e d I n d u st r i e s1000 Metal mining2990 Misc. petroleum andcoal productsMetal Mining [profile]Oil & GasOperations

[profile]

1310 Metal Ore Mining2520 Petroleum and CoalProduct Manufacturing n.e.c.

2012 Acquire Media Corporation. Published by OneSource Information Services, Inc., February 2012


Page 23


24/26


Page 24


25/26

Articles: 0 Matches


Page 25


26/26


Date post:	05-Apr-2018
Category:	Documents
Upload:	alstonetee
View:	225 times
Download:	0 times

One Stop Report

Documents