Mermaid Maritime Public Company Limited provided earnings guidance for the financial year ended 31 December 2015. In anticipation of the Group's audited financial results for the financial year ended 31 December 2015, the Group is expected to take a substantial impairment and consequently net loss. This shall be mainly attributable to non-cash provisions for impairment on the value of key assets, investments in Subsidiaries as well as share of loss in an associate investment driven by a similar impairment exercise.

Notwithstanding this one-time adjustment, the Group is expected to deliver positive EBITDA and operating cash flow in financial year 2015 and has maintained a sound balance sheet backed by a healthy cash balance. The Group also remained low in debt at the end of financial year 2015 and has also taken, and continues to take, proactive measures on cost reduction and efficiency in order to reinforce the Group through and beyond the current downturn.