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Its abit sad that the news comes at the wrong time, else this counter definitely chiong all the way. Nevertheless this counter seems to be no lack of supporters.. heehee.. will rise when market calms down..
ASL Marine starts 2008 with
shipbuilding orders of S$96 million
·
Higher contract values for the construction of seven vessels·
the European market
Establishes itself as a niche builder for specialized vessels inSingapore, 15 January 2008
?Group?), an integrated marine company offering comprehensive services in
shipbuilding, shiprepair and shipchartering; and owning shipyards in Singapore, Batam
(Indonesia) and Guangdong (China), has secured new shipbuilding contracts worth a
total of S$96 million for the construction of seven vessels.
These seven vessels include;
? ASL Marine Holdings Ltd. (?ASL Marine? or the·
2 units Emergency Response and Rescue Vessels·
1 unit Water Injection Dredger and·
All seven vessels are secured from existing European customers.
4 units Rotortug of 80 tons bollard pull?These new vessels will be built at our Singapore shipyard. The Group has been
expanding and upgrading its shipyard capacity and capabilities to handle the
building of more sophisticated vessels where requirement for quality, statutory
compliance and safety are extremely stringent. Our hard works have been
rewarded with higher value contracts from our customers.?
? ASL Marine has successfully established itself as a niche builder for specialized
vessels in the European market. Most of our orders come from repeat customers
who are confident of the quality that we can deliver.?
Mr Ang Kok Tian, Chairman and Managing Director
The two units of Emergency Response and Rescue Vessels and the Water Injection
Dredger are expected to be completed in 2009. Of the four units of Rotor
vessels are expected to be completed in 2011 and the remaining vessel is expected to
be completed in 2012.
These contracts are not expected to have a material financial impact on the net tangible
asset and earnings per share of the Group for the financial year ending 30 June 2008.
this one also sinking? then how... must jump ship huh?
CH Offshore up 4 cents, ASL still day-dreaming? :rolleyes:
KE and Cazenove calling for buy
Shipyards underperformed when market sentiment was bad, with market recovering, shipyards to lead the recovery soon? :D :p
Bro 168,
you miss out Keppel Corp lah.
If you scan through the mkt, there are not many good marine stocks around liao after the sale of Labroy.
Mid-size = ASL marine
Large-cap = Cosco, SembMarine, Ezra
Chances are high for a take over...
My feel, Dubai World aiming to snap up the major yards in Batam... Although I am still figuring what is their business model to sustain such buy over. Bear in mind Dubai World raise the money thru bank loan.
Let's keep watch
