Mermaid

Mermaid: to dispose of investment in Allied Marine & Eqpt Sdn Bhd (AME) via sale of 25% associate, WCI, for RM76m (~US$23m), resulting in net gain of ~US$12m. Transaction is scheduled for completion in mid-Sep 2010, and is expected to boost EPS from S$0.04 to $0.06, and NTA/sh from S$0.78 to S$0.80, based on FYSep09 figures. AME is a Petronas licensed provider of subsea engineering svcs to the offshore O&G industry.