Posted on October 13, 2025
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Placement of approximately 41.1 million Placement Shares at S$0.1703 each has been fully taken up.
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Prominent institutional investors include Lion Global Investors Limited, ICH Capital Pte Ltd, ICAP-SAC, Ginko-AGT Global Growth Fund, and Azure Capital.
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Gross proceeds of S$7.0 million to fund capital expenditures for business expansion.
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Supported by a strengthened balance sheet, the Placement enhances the Group’s financial agility and strategic capacity for its growth strategies ahead.
Singapore, 10 October 2025 – SGX-Mainboard listed ASL Marine Holdings Ltd. (“ASL Marine” or “洪新刘海运”, the “Company” and together with its subsidiaries, the “Group”), a vertically-integrated marine services group in the region with an established 50-year track record, is pleased to announce that the Company has successfully completed a share placement of S$7.0 million (“Placement”), comprising a total of 41,104,000 new shares issued at a price of S$0.1703 per share.
The Placement was anchored by prominent institutional and accredited investors, marking a major vote of confidence in the Group’s strategic turnaround and expansion plans.
“This successful placement marks a pivotal milestone in ASL Marine’s transformation journey,” said Mr Ang Kok Tian, Chairman and CEO.
“Through the resiliency of our underlying business activities and disciplined debt reduction, ASL Marine has achieved three consecutive years of profitability and we are building a stronger foundation for future growth.
The entry of new institutional investors reflects strong confidence in our momentum and supports our strategic plans to expand and deliver greater long-term value to stakeholders.”
SAC Capital Private Limited and Maybank Securities Pte. Ltd. acted as the Placement Agent and Sub-Placement Agent respectively.
In its latest FY2025 results (financial year ended 30 June 2025) announced on 29 August 2025, ASL Marine delivered net profit growth of 291.1% to $14.7 million, with net cash of $45.8 million generated from operating activities.
On an adjusted EBITDA basis, ASL Marine achieved $83.7 million in FY2025, comparable to FY2024’s $85.7 million.
The Company has announced a proposed dividend of S$0.002 per share for FY2025, pending shareholder approval at the forthcoming AGM.
About ASL Marine Holdings Ltd.
(SGX – A04 / Bloomberg – ASL:SP / Reuters – ASLM.SI)
Established in 1974 and listed on the Mainboard of the Singapore Stock Exchange since 2003, ASL Marine has evolved over the past 50 years into a vertically-integrated marine services group with shipyards in Singapore and Batam, Indonesia.
The Group serves customers from Asia Pacific, South Asia, Europe, Australia, and the Middle East, primarily engaging in:
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Ship repair and conversion
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Ship chartering
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Shipbuilding
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Dredge engineering and other marine-related services
As of 30 June 2025, ASL Marine has a vessel fleet of 181, providing chartering services to industries such as marine infrastructure, construction, dredging, land reclamation, and cargo transportation.
More information: www.aslmarine.com.
