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As at 31 January 2017, the twenty (20) largest holders of ordinary shares and the number of shares held by such shareholders in Mermaid on record with the share registry as registered with the Thai Ministry of Commerce together with depositors whose security accounts with Central Depository (Pte.) Ltd. hold shares of Mermaid were as follows:

No. Name Shares % Culm. %
1 THORESEN THAI AGENCIES PLC 700,000,000 49.53 49.53
2 HL BANK NOMINEES (S) PTE. LTD. 250,106,758 17.70 67.23
3 SOLEADO HOLDINGS PTE. LTD. 86,747,393 6.14 73.36
4 BNP PARIBAS SECURITIES SVCS 41,464,450 2.93 76.30
5 CITIBANK NOMS S'PORE PTE. LTD. 25,428,105 1.80 78.10
6 ATHENE HOLDINGS LTD. 20,398,420 1.44 79.54
7 DBS NOMINEES PTE. LTD. 16,927,115 1.20 80.74
8 DBS VICKERS SECS (S) PTE. LTD. 16,062,946 1.14 81.87
9 BNP PARIBAS NOMS S'PORE PTE. LTD. 9,566,200 0.68 82.55
10 RAFFLES NOMINEES (PTE.) LTD. 8,282,149 0.59 83.14
11 HSBC (SINGAPORE) NOMS PTE. LTD. 8,151,050 0.58 83.71
12 CIMB SEC (S'PORE) PTE. LTD. 7,829,501 0.55 84.27
13 MORGAN STANLEY ASIA (S) SEC PTE. LTD. 7,026,350 0.50 84.77
14 OCBC SECURITIES PRIVATE LTD. 5,820,358 0.41 85.18
15 UOB KAY HIAN PTE. LTD. 5,778,400 0.41 85.59
16 PHILLIP SECURITIES PTE. LTD. 5,721,452 0.40 85.99
17 DB NOMINEES (S) PTE. LTD. 5,028,810 0.36 86.35
18 MAYBANK KIM ENG SECS PTE. LTD. 4,898,900 0.35 86.69
19 LEE GEOK HWA 3,363,500 0.24 86.93
20 LIM & TAN SECURITIES PTE. LTD. 2,965,500 0.21 87.14