Work-class ROV, image: FMC Technologies
Otto Marine Limited announced today they have appointed UOB Kay Hian Holdings Limited to advise on strategic options that will enable them to develop the international profile and competitive position of its subsea services unit, Surf Subsea Pte Ltd. Options include listing on the Singapore Exchange.
Commenting on the Group’s strategic approach, Mr Michael See, Group Executive Director, said “The exploration of strategic alternatives for Otto Marine demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus. We believe there are avenues that could afford Otto Marine more versatility to make strategic investment decision to take full advantage of the compelling prospects of the subsea segment and to better position the business for its customers, partners and employees.”
Headquartered in Singapore, Otto Marine owns/leases and operates 64 offshore vessels and one of the largest shipyards in Batam, Indonesia.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,142 members that receive our newsletter.
Have a news tip? Let us know.
Russia dismissed as "absurd" on Wednesday any suggestion that it had been involved in damage caused at the weekend to two fiber-optic data telecommunication cables in the Baltic Sea.
The Netherlands plans to temporarily enlist additional personnel and equipment from private companies to strengthen security in its part of the North Sea, the Defence Ministry said on Wednesday, confirming media reports.
Singapore-based rig builder Keppel Ltd. is set to secure complete control over 13 legacy rigs currently held by Rigco Holding Pte. Ltd. (Asset Co), part of a strategic move reflecting...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,142 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
