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ASL Marine secured new shipbuilding contract worth S$38.5 |
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Tuesday, 09 February 2010 |
 The Board of Directors of ASL Marine Holdings Ltd. (the "Company" or "ASL Marine") is pleased to announce that the Company’s wholly-owned subsidiary,
ASL Shipyard Pte Ltd has secured a new shipbuilding contract from an
oversea customer worth approximately S$38.5 million for one unit of
Diving Support Vessel with fire fighting standby and rescue
capabilities. The vessel is expected to be completed in the fourth
quarter 2011.
Revenue from the new shipbuilding contract will be recognised over the
contract period in accordance with the Group's revenue recognition
policy, which is based on the percentage of completion method.
The contract is not expected to have a material financial impact on the
consolidated net tangible asset and earnings per share of the Group for
the financial year ending 30 June 2010.
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.
Source: ASL Marine Holdings Ltd.
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