Gelonghui, Feb. 1: Hilong Holdings (01623.HK) announced that Hilong Offshore Construction (Thailand) Limited, an indirect wholly-owned subsidiary of the company, has recently signed an installation and dismantling contract with Mermaid Subsea Services (Thailand) Ltd. (“Mermaid Thailand”) for pipeline and platform installation and removal services. The contract had a contract value of approximately $76.2 million.
The board of directors believes that the signing of the contract proves that the Group's marine engineering services are highly recognized by the industry and are conducive to strengthening the development of the Southeast Asian market. Mermaid Thailand is a subsidiary of Mermaid Maritime Public Company Limited (SGX: DU4), an international undersea and offshore services company, which mainly provides inspection, repair and maintenance services, and cable laying services.