Mermaid: Co is pursuing strategy to unlock value in perceived undervalued share price. First, Mermaid intends to consolidate and list rig-business Asia Offshore Drilling (AOD) on Oslo Axess by end June 2011. AOD has 2 rigs under construction by Keppel FELS with existing options for another 2 rigs...
Second, co will relocate its subsea business commercial base to Singapore in the near future and segment has a current orderbook of USD100m over the nxt 18 mths. Co most recently posted quarterly losses of THB218.6m
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