ASL Marine boosts dividend

Singapore: Singapore-based shipbuilder and repairer ASL Marine has reported a 70% increase in profits for fiscal 2006 ending June 30th to $S23.1m on revenues up 42% at $S197.7m. The increases were attributed to strong performances in the shiprepair and ship chartering divisions of the business. Shipbuilding, the major share of revenues, also boosted its turnover to $S123.3m up 27.8% on fiscal 2005. The group has yards in Singapore, Batam and Guangdong. From fiscal 2007, the new 150,000 deadweight graving dock at Batam, oneof the few facilities in the region capable of taking capesize bulkers, will be contributing to earnings. The results have prompted ASL to declare a 1.8 cents a share dividend plus a 0.4 cents special dividend, a 22.2% increase on last year's dividend.  (24/08/06)