ASL Marine Incorporates New Subsidiary

ASL Marine Holdings Ltd. announced that its wholly-owned subsidiary, Intan Overseas Investments Pte. Ltd. (IOIPL), has incorporated a wholly-owned subsidiary, PT. Sukses Shipyard Indonesia (PTSSI) in Batam, the Republic of Indonesia.

PTSSI will be engaged in shipbuilding and shiprepair services. IOIPL will be making an initial cash injection of US $ 250, 000 (comprising 250 shares of US $ 1 ,000/-each ) towards the paid up capital of PTSSI.

The Group’s investment in PTSSI will be funded through internal resources.

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Press Release, January 24, 2014