Investor Relations ASL Marine Holdings Ltd
News
ASL Marine Secures Shipbuilding Contracts Worth S$100.3 Million
The Board of Directors of ASL Marine Holdings Ltd (the "Company" or "ASL Marine") is pleased to announce that subsequent to 31 December 2004, its wholly-owned subsidiaries, ASL Shipyard Pte Ltd and PT ASL Shipyard Indonesia have secured additional shipbuilding contracts worth a total of S$100.3 million for the construction of eight new vessels.
These contracts are for the delivery of the following vessels to various customers in Europe and Indonesia:-
Revenue from these new shipbuilding contracts will be recognized over the contract period in accordance with the Group's revenue recognition policy, which is based on the percentage of completion method. These projects are expected to be completed by 30 June 2007.
Barring any unforeseen circumstances, these contracts are expected to have a positive impact on the net tangible assets and earnings per share of the Company for the financial years ending 30 June 2006 and 30 June 2007.
As far as the Directors of ASL Marine are aware, none of the Directors or controlling shareholders of ASL Marine has any interest, direct or indirect, in the above transactions other than through their shareholdings in ASL Marine.
BY ORDER OF THE BOARD
Ang Kok Tian
Chairman and Managing Director
7 June 2005
- ASLM_PressRelease.pdf (Size: 132,272 bytes)