Posted on December 14, 2020
Overall revenues and income were down v the comparable first quarter last year.
ASL Marine’s fiscal year starts June 30 and Q1 ends Sept 30.
In reporting its earnings ASL said:
“The COVID-19 pandemic has severely disrupted global economic activity, and led to both demand- and supply-side shocks to worldwide economy. As our businesses are primarily reliant on the market conditions in the infrastructure, shipbuilding and shiprepair, shipping and offshore & marine industries, the main macroeconomic variables we are sensitive to include global trade, oil price and infrastructure spending in Asia.”
ASL added that it remains on the Singapore stock exchange “watch list” having been first put there in December 2019.
“The Company remains on the Watch-list as at the date of this announcement the Company did not meet the exit criteria.”