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.
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