ASL Marine's Growth Opportunities Likely Aided by Infrastructure Initiatives
Dow Jones
Sep 04
0536 GMT - ASL Marine's growth opportunities are likely aided by infrastructure initiatives in Singapore, UOB Kay Hian analysts say in a research report. Management highlighted Singapore's S$100 billion coastal protection program and the New Western Island initiative as potential multiyear opportunities, the analysts note. These projects should increase demand for dredging engineering services and vessel utilization, supporting the marine services group's businesses over the longer term. The brokerage maintains the stock's buy rating, but lowers the target price to 0.41 Singapore dollar from S$0.43 to reflect an enlarged share base following the company's recent share placement. Shares are 1.6% higher at S$0.315.
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