Mermaid Maritime Establishes JV Company in Vietnam

MT Newswires

Aug 25

Mermaid Maritime (SGX:DU4) established a joint-venture company in Taiwan, Mermate, according to a Friday filing with the Singapore Exchange.

Shares of the company were down nearly 1% in Monday trading.

The company has a 49% stake in Mermate through its subsidiary, Mermaid Subsea Services (Thailand), with 51% held by ATE Energy International.

The joint-venture's primary business activities are energy technical services, cable installation and offshore construction projects, and has an issued and paid up capital of NT$1.0 million.

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