ASL Marine

ASL Marine: SGX filings revealed that Fidelity Management and Research (FMR), the investment division of Fidelity Worldwide Investment, increased its stake from 6.96% to 7.2%, buying up 1m shares on 14 Jan at an average price of $0.7099 apiece. The last time FMR acquired ASL's shares was back on 10 Dec 2013 at a price of $0.645, just three weeks before ASL's share price spiked to a high of 13% to $0.73 on 2 Jan. The acquisition by FMR signals a further vote of confidence in the counter, supported by relatively lower valuations of 8.1x forward P/E compared to the OSV peer average of 9x.