Company Briefs: ASL Marine Holdings

ASL Marine Holdings

Shipbuilder ASL Marine posted a net profit of $1.5 million for the fourth quarter, reversing a $4.1 million net loss a year earlier.

But net profit for the year still came in 64.1 per cent lower at $7.9 million.

Revenue was up 179.5 per cent to $73.3 million for the quarter and down 63.9 per cent to $184.2 million for the year.

Revenue for the quarter rose across all its business segments - shipbuilding, ship repair and conversion, chartering and engineering - but fell for the year except for chartering.

Earnings per share was 0.35 cents for the quarter, reversing a 0.99 cent loss per share a year earlier. ASL Marine shares closed up 1.5 cents to 37.5 cents yesterday.

Technics Oil and Gas

The full-service integrator of compression systems and process modules for the offshore energy sector has won a $70.5 million contract to build a liftboat. The deal is its biggest contract win this year, the company noted.

The liftboat will be a multi-purpose self-elevating platform capable of operating at water depths of up to 70m.

The customer is an established regional player based in Malaysia and the vessel is expected to be deployed in Malaysia after it is completed.

Technics Oil and Gas said the vessel should be delivered within two years from the contract date, and noted there is an option to build a similar unit that can be exercised within six months from the contract date.

TLV Holdings

The initial public offering of TLV Holdings, the parent company of Taka Jewellery and Lovis Diamonds, of 76.5 million shares of 22 cents each has been fully subscribed, the company said yesterday.

Trading of the group's shares is expected to start on the Catalist board at 9am tomorrow.

Said managing director and co-founder Michael Teo: "With the net proceeds raised, we look forward to embarking on the next phase of our growth strategy, which will see us further widening the breadth of our product range to our global customer base."

He added: "To drive future growth and expansion of the business, we are also looking to acquire ownership of retail outlets which are currently leased from third parties to negate the increasing rental costs."

A version of this article appeared in the print edition of The Straits Times on September 16, 2015, with the headline 'Company Briefs: ASL Marine Holdings'. Print Edition | Subscribe