ASL in growth mode

The Singapore-based ASL Marine Holdings, an integrated marine company with shipyards in Singapore and Batam, Indonesia, has today announced that it has entered into contracts with several subcontractors and supplier to expand the capacity and capabilities of the Groups two shipyards in Singapore and Batam, to meet the growing demand for its services.

The upgrades to the yards involve building a 150,000 dwt graving dock in the Batam yard, equip both yards with 12 gantry cranes and upgrade the infrastructure and development works to the Batam yard. The total investment of $13.6 million will be progressively paid based on work completed and funded through a combination of borrowings and internal funds

This expansion is in line with the Groups overall strategy to strengthen and expand its shipbuilding and ship repair capacity and capability. The Group will develop its Singapore shipyard into an international builder of sophisticated, high value and customized vessels of up to 70m in length while its Batam shipyard will be capable of repairing vessels of up to Capesize class and building new vessels of up to 20,000 dwt. With the completion of the graving drydock in the second quarter of 2006, ASL will be positioned as one of the few shipyards in the region to have Capesize ship repair capacity and capabilities.