Mencast subsidiary wins two contracts from Keppel units

A subsidiary of Mencast Holdings has secured two separate contracts to provide maintenance, repair and overhaul (MRO) services to Keppel Singmarine and Keppel Shipyard, both of which are units of Keppel Corp subsidiary Keppel Offshore & Marine. -
A subsidiary of Mencast Holdings has secured two separate contracts to provide maintenance, repair and overhaul (MRO) services to Keppel Singmarine and Keppel Shipyard, both of which are units of Keppel Corp subsidiary Keppel Offshore & Marine. -- PHOTO: KEPPEL CORP

A subsidiary of Mencast Holdings has secured two separate contracts to provide maintenance, repair and overhaul (MRO) services to Keppel Singmarine and Keppel Shipyard, both of which are units of Keppel Corp subsidiary Keppel Offshore & Marine.

Mencast Subsea, a wholly-owned subsidiary under Mencast's offshore and engineering division, will provide services including underwater inspection and maintenance works, seabed survey inspection, hydrographic surveys and side scan sonar surveys, Mencast said in a statement on Thursday.

The two contracts are until Dec 31, 2015, with a one-year option to renew, Singapore-listed Mencast said.

"These long term contracts affirm our growing leadership in providing MRO services to the offshore industry," said Mencast executive chairman Glenndle Sim.

Last month, Mencast announced that Mencast Subsea had won a long-term contract to provide similar services to Keppel Fels. Keppel Fels is also a unit of Keppel Offshore & Marine.

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 Mencast and its subsidiaries for the current financial year ending 31 December 2013.