Singapore-based ASL Marine Reports Earnings Surge

Press Release February 7, 2013

ASL Marine Holdings financial report for 3 months ended 31, December 2012 shows earnings up by 39.8% Y-on-Y.

ASL Marine Holdings Ltd., an integrated marine company offering comprehensive services in shipbuilding, shiprepair and conversion and ship-chartering, reported revenue of S$83.0 million and net profit attributable to shareholders of S$10.6 million for the three months ended 31 December 2012 (“2QFY2013”).

Highlights:

Revenue improved 7.3% on broad based growth, particularly for shiprepair and conversion and shipchartering segments
Strong gross profit margin improvement across all business segments augmented revenue growth to boost earnings
Robust outlook backed by healthy outstanding order book for shipbuilding segment of S$528 million and long term shipchartering contracts of S$83 million

ASL Marine owns four shipyards in Singapore, Indonesia (Batam) and China (Guangdong) providing a comprehensive range of marine engineering services spanning myriad sectors/ industries. It has a young fleet of over 200 vessels comprising mainly barges, towing tugs, Anchor Handling Tugs, Anchor Handling Towing/ Supply vessels, ROV and chemical tankers.

The company is principally engaged in shipbuilding, shiprepair and conversion, shipchartering and other marine related services, catering to customers from Asia Pacific, South Asia, the Middle East and Europe and Australia.