ASL Marine

ASL Marine: Secured new shipbuilding contracts worth approx $267m for the construction of five vessels, 2 units of PSVs, 1 dredger, 2 barges. The barges are scheduled for delivery in 2012. The PSVs and the dredger are expected to be completed in 2013 and 2014 respectively. Positive impact on co's earnings expected for FY2012 end on 30 June 2012. ASL has a fwd P/E of 6.2x with sector peer avg of 7.8x