Reflect Joins Otto

What would you do if you owned a start up company specialising in seismic and geophysical services and looking for more capital for expansion? Debt and private equity might first come to mind, but Pareto Securities has found an interesting funding solution by linking Reflect Geophysical (“Reflect”) with another strategic player, Singapore based offshore marine group Otto Marine.

Reflect is a start-up company incorporated in Singapore in 2008, founded by eight industry experts with combined experience of over 350 years in the marine seismic sector. Otto Marine on the other hand owns a spectrum of businesses ranging from shipbuilding, ship chartering and ship repairing and more importantly, has SGD 115 million in its pockets from its rights issue concluded in the third quarter this year. Reflect would be an exciting opportunity for Otto Marine to move upstream into high value oil and gas services, considering that there are not many such companies involved in the seismic industry in this part of the world. We note that Otto Marine has been actively expanding its business through joint ventures and acquisitions. Till date, it has forged strategic partnerships with ABCmaritime AG, Aries Offshore, GC Rieber Shipping ASA and Go Offshore Australia to leverage on its partners’ expertise and global networks and in the process hoping to build up a source of passive and recurring income.

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