AsiaFinance and InsuranceOffshore

Singaporean hotelier revealed as major MMA shareholder

A Singaporean hotelier has been revealed as a majority shareholder in MMA, the offshore services company formerly known as Mermaid Marine Australia.

Michael Kum currently owns a 10.6% (39.6m shares) of MMA, making his stake worth just over A$12m ($9m) at the current share price of A$0.305.

He is the head of M&L Hospitality Group, which owns hotels and hospitality property around the world.

Kum has been acquiring MMA’s shares in increments since April 2015 through Halom Investments, a company he co-owns with his wife Lynda Ong, according to filings to the Australian Securities Exchange.

In 1976, the entrepreneur also founded offshore support vessel operator Miclyn Express Offshore, which is headquartered in Singapore and was listed on the ASX until 2013 before it was bought out by private equity investors.

 

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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