October 20, 2014 10:58 PM ET

Machinery

Company Overview of ASL Shipyard Pte Ltd.

Company Overview

ASL Shipyard Pte Ltd. provides ship-building, ship-repair, and general engineering services to the marine sector. ASL Shipyard Pte Ltd. was incorporated in 1992 and is headquartered in Singapore. ASL Shipyard Pte Ltd. operates as a subsidiary of ASL Marine Holdings Ltd.

19 Pandan Road

Singapore,  609271

Singapore

Founded in 1992

Phone:

65 6264 3833

Fax:

65 6268 0274

Key Executives for ASL Shipyard Pte Ltd.

General Manager
Age: 50
Senior General Manager
Age: 63
Executive Director
Age: 52
Compensation as of Fiscal Year 2014.

ASL Shipyard Pte Ltd. Key Developments

ASL Shipyard Pte Ltd. Secures SGD 91 Million Shipbuilding Contracts

ASL Shipyard Pte Ltd. has secured new shipbuilding contracts worth approximately SGD 91 million for the construction of three units of infield support vessels of ART 100-42 class Rotor Tugs design and one unit of seismic support vessel. The vessels are secured from customers in Australia and Norway respectively. The four vessels will be built at the Group's shipyard and are expected to be completed in the first quarter of 2016. Revenue from these new shipbuilding contracts will be recognised over the respective contract period in accordance with the Group's revenue recognition policy based on the percentage of completion method.

Asl Shipyard Pte Ltd Secures Shipbuilding Contracts Worth SGD 97 Million to Build Six Vessels

The Board of Directors of ASL Marine Holdings Ltd. announced that its wholly owned subsidiary, ASL Shipyard Pte Ltd. has secured new shipbuilding contracts worth approximately SGD 97 million for the construction of six vessels. The vessels comprise: Two units Emergency Response and Rescue Vessels and four units Anchor Handling Tug/Multi Purpose Supply Vessels. The vessels are secured from customers in Europe and Singapore and will be built in accordance with the Rules of Lloyd's Register of Shipping and ABS classification respectively. The two units of Emergency Response and Rescue Vessels will be constructed at the Group's shipyard in Singapore, and are scheduled for delivery in 2015. The four units of Anchor Handling Tug/Multi Purpose Supply Vessels will be built at the group's shipyard in China. Two units are expected to be completed in 2015 and the other 2 units in 2016. The vessels are 62 metres in length, of 70 metric tons bollard pull, dynamic positioning 2 and electrically propelled. Revenue from these new shipbuilding contracts will be recognized over the respective contract period in accordance with the group's revenue recognition policy based on the percentage of completion method. These contracts are not expected to have a material financial impact on the net tangible asset and earnings per share of the group for the financial year ending June 30, 2014.

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