News

Resignation Of Independent Director

The Board of Directors of ASL Marine Holdings Ltd. (the "Company") wishes to announce the resignation of Mr David Hwang Soo Chin as an Independent Director of the Company and the relinquishment of his positions as Chairman and member of the Audit Committee and a member of the Nominating and Remuneration Committees with effect from 13 October 2005.

The Board would like to put on record its sincere appreciation to Mr David Hwang for his dedication, invaluable contributions and services to the Group and wishes him all the best in his future endeavors.

With effect from 13 October 2005, Mr Damian Hong Chin Fock is appointed the Chairman of the Audit Committee. Henceforth, the Audit Committee shall comprise the following Independent Directors:-

Mr Damian Hong - Chairman
Mr Andre Yeap Poh Leong - member

Mr Damian Hong is currently the Chairman of the Remuneration Committee and Mr Andre Yeap is the Chairman of the Nominating Committee.

The appointment of a new Independent Director will be announced in due course.



BY ORDER OF THE BOARD


Ang Kok Tian
Chairman and Managing Director
13 October 2005