Mencast bags two offshore services deals from Keppel

They'll cover these 4 key areas.

In a release, Mencast Holdings Ltd announced that its wholly-owned subsidiary, Mencast Subsea Pte Ltd under its Offshore and Engineering division, has won two separate contracts extending to 31 December 2015 (plus one year option to renew) from Keppel Singmarine Pte Ltd and Keppel Shipyard Limited for the provision of MRO services which include: 1) Underwater inspection and maintenance works 2) Seabed survey inspection 3) Hydrographic survey 4) Side Scan Sonar survey.

“These long term contract affirms our growing leadership in providing MRO services to the Offshore industry” said Executive Chairman Glenndle Sim “We are delighted to be awarded these long term contracts by Keppel Singmarine, a world leader in shipbuilding and offshore vessels, and Keppel Shipyard, a leader in the conversion of Floating Production Storage Offloading Units, Floating Storage Offloading vessels and Floating Storage and Regasification Units.”

These contracts follow the announcement on 17 June 2013 of a long term contract for similar services awarded by Keppel FELS to Mencast Subsea. Keppel FELS, Keppel Singmarine and Keppel Shipyard are subsidiaries of Keppel Offshore & Marine Ltd(Keppel O&M), a global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding.

The new contracts are expected to contribute positively to, but have no material impact on, the earnings per share and net tangible assets per share of the Company and its subsidiaries for the current financial year ending 31 December 2013. None of the Directors has any interest, direct or indirect, in the contracts. As far as the Directors are aware, none of the controlling shareholders of the Company has any interest, direct or indirect, in the contract.