• 2014 August 25 11:15

  Otto Marine explores the strategic options to develop subsea business

  

  Otto Marine Limited is currently exploring available strategic options to facilitate the expansion of its subsea operations business which includes providing light construction services in deepwater Oil and Gas field developments, while performing inspection, maintenance and repair on existing and expanding subsea developed regions, and providing specialised subsea vessels on long term charter in specific regions in support of subsea developments, the company said in its press release.

  The options include a potential listing of one of its wholly owned subsidiaries, Surf Subsea Pte Ltd, on the Singapore Exchange Securities Trading Limited. The Company has appointed UOB Ka y Hian Holdings Limited to explore, and to advise it on the feasibility of such listing.

  The fulfillment of the Subsea Expansion will be de pendent on a variety of factors, including the feasibility of the strategic options, prevailing market conditions and the Company's circumstances. There is no assurance or certainty that the Subsea Expansion and/or the potential listing will materialise.

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