Mermaid Maritime secures contract award for submarine cable survey in Middle EastStaff Writer | September 16, 2017
Mermaid Maritime Public Company Limited announced that its Middle East business unit has been awarded a long-term cable survey contract in the Middle East with an estimated value of $7 million.
Technology A long-term cable survey contract
The duration of the contract is for approximately 21 months with an option for further cable inspection work at additional rates.
Mermaid’s contract win announcements as published from time to time on SGXNet are not exhaustive as Mermaid continues to be awarded other smaller contracts in the ordinary course of business which are added to its order book.
Assuming that the contract had commenced and had been completed within the most recent financial year (the company’s last financial year ended December 31, 2016), the contract would have had a non-material effect on the earnings per share of the company (on a consolidated basis) and a non-material effect on the net tangible assets per share of the company (on a consolidated basis) for that financial year. ■