News

Reply To Query Regarding Trading Activity

The Board of Directors of ASL Marine Holdings Ltd (the "Company" or "ASL Marine") refers to the query from the Singapore Exchange ("SGX") regarding the substantial increase in the price of the Company's shares today.

SGX's Question 1
Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.

Company's Reply
Pursuant to the MASNET announcements made on 26 December 2003, 9 January 2004 and 29 April 2004, the Company expects various definitive agreements to be signed on 26 May 2004. Further details on these agreements will be announced through MASNET and a media and analyst briefing to be held on the same day.

Saved as disclosed above, the Company is not aware of any information not previously announced concerning the Company, subsidiaries or associated companies which, if known, might explain the trading.

SGX's Question 2
Are you aware of any other possible explanation for the trading?

Company's Reply
Saved as disclosed above, the Company is not aware of any other possible explanation for the trading.


SGX's Question 3
Can you confirm your compliance with the listing rules and, in particular, listing Rule 703?

Company's Reply
The Company confirms compliance with the listing rules and, in particular, listing Rule 703.


The Company however wishes to point out that in the ordinary course of its business, it actively considers possible new investments and other business opportunities in line with its strategy to grow its businesses of shipyard operations and shipchartering. In this respect, the Company is actively engaged in ongoing negotiations and review of various proposals, and in the event that it does enter into any definitive agreements which are material, it will promptly issue the necessary announcements.


BY ORDER OF THE BOARD

Ang Kok Tian
Chairman and Managing Director

24 May 2004