SINGAPORE (Yosefardi) – SGX-listed ASL Marine Holdings Ltd confirmed that a 36% associate of the company has met with senior officers of the Indonesia Stock Exchange (IDX) to discuss plans to undertake an initial public offering on IDX.
ASL Marine has earlier cut its effective interest in PT Capitol Nusantara Indonesia (CNI) from 60% to 36%, resulting in S$4.8 million of gain. PT CNI is engaged in shipping business in Indonesia.
ASL Marine, a company engaged in shipbuilding, ship repair, and conversion, reported revenue of S$465.4 million and net profit of S$45.3 million for the full year ended June 30, 2013.
In Indonesia, ASL Marine controls PT ASL SHipyard, which operates shipyard in Batam Island, Riau Islands province.