News

Incorporation Of Hongda Investment Pte. Ltd

The Board of Directors of ASL Marine Holdings Ltd. (the "Company" or "ASL Marine") wishes to announce the incorporation of a wholly-owned subsidiary Hongda Investment Pte. Ltd. ("HONGDA") on 13 June 2005 (the "incorporation").

HONGDA is incorporated in Singapore and is in the business of investment holding.

The authorised and issued and paid-up capital of HONGDA are as follows:
Authorised Capital: US$5,000,000.00
(Consisting of 5,000,000 ordinary shares of US$1.00 each)

Issued and Paid-up Capital: US$1.00
(Consisting of 1 ordinary share of US$1.00 each)

The issued and paid-up capital of HONGDA was issued at par for cash and was funded by ASL Marine's internal cash resources.

Financial effects on the Company
The net tangible assets and earnings per share of the Company for the financial year ending 30 June 2005 are not expected to be materially affected by the incorporation.

Interests of the Directors and controlling shareholders
As far as the Directors of the Company are aware, none of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the incorporation other than through their shareholdings in the Company.

BY ORDER OF THE BOARD


Ang Kok Tian
Chairman and Managing Director
13 June 2005