FY2005 Financial ResultsRaffles Hotel

Casuarina Suite A

25 August 2005

ASL Marine Holdings Ltd

2

Presentation Outline

z Company Profile

z Financial Highlights

z Shipbuilding, Ship Repair operations

z Ship Chartering operations

z Growth Drivers

z Q&A Session

Company Profile

4

Company Profile

z Listed on SGX-ST Mainboard on 17 March 2003

z Engaged in Shipbuilding, Ship Repairs, Ship Chartering & other Marine-related services

z Owns 2 yards in Singapore and Batam providing a wide range of Shipbuilding, Ship Repairs and related Marine Engineering services

z Owns a young fleet of more than 100 vessels engaged in offshore oil and gas, marine infrastructure, dredging and construction, coal, building materials and general cargo

Financial Highlights

6

24.1%5.02 cents6.23 centsEarning per share (“EPS”)

28.6%1.4 cents1.8 centsDividend per share

36.6%9,94413,586Net profit attributable to shareholders

190.3%16,76948,677Net cash inflows from operating activities

10.6%

12,482

118,279

FY2004

--11.6%PBT margins

29.0%16,105Profit before tax (“PBT”)

17.7%139,180Revenue

Change (%)FY2005$’000

Financial Highlights

7

64.6

78.9

118.3

69.1

0

20

40

60

80

100

120

140

30-Jun-02 30-Jun-03 30-Jun-04 30-Jun-05

$’m

Group Revenue

39.826.3

46.6

6 months ended 31 Dec

139.2

CAGR 29.2%

8

7.1

9.19.9

5.9

0

2

4

6

8

10

12

30-Jun-02 30-Jun-03 30-Jun-04 30-Jun-05

$’m

Group Net Profit

4.7 4.52.9

6 months ended 31 Dec

13.614

CAGR 24.2%

9

96.5

57.5

10.127.5

32.633.2

0

20

40

60

80

100

30/06/05 30/06/04

Shipbuilding Shiprepair Ship Chartering & rental income

$’m

Revenue by Activity

10

Better & More Experienced Team

z Mr Mok Kim Whang, Senior General Manager (Shipyard Division)

-- Responsible for setting business strategy and direction for the shipyard division, including management of its operation with focus on Shiprepair business.

z Mr Simon Cheong Hock Wee, General Manager (Shipbuilding and Special Projects)

-- Responsible for operation and business development for the Shipbuilding division.

z Capt Tay Kes Siong, General Manager (Ship Chartering)

-- Responsible for managing the Ship Chartering operations of the Group

Shipbuilding & Ship Repairs

12

Record Shipbuilding Order Book

$’ million

FY2003 FY2004 FY2005 FY2006

231.0

????

158.9

58.2

13

Record Shipbuilding Order Book

100272.240108.660163.6TOTAL

719.7--719.7JOINTLY-CONTROLLED ENTITIES

40

1

-

27

12

% %$million$million%$million

616.53.4513.1Barges

252.5

57.0

97.2

81.8

Total

3673.9823.3Chemical Tankers and Offshore Emergency Response & Rescue Vessels

21-2157.0Other Tugs

3031.31950.5Azimuth Stern Drive Tugs

93108.653143.9THIRD PARTIES TOTAL

FY2007FY2006Type of vessels

14

Improved Ship Repair Capability

z 20,000 dwt Floating Dock operational in May 2005

z 150,000 dwt Cape-sized Graving Dry Dock scheduled to be operational in 3Q FY2006

z Target to repair sophisticated and larger vessels of higher value

15

Booming Marine Sector

z Riding on the waves of buoyant marine sector

z Target for expansion in Greater China and Indonesia

z Potential capital gain from sale of vessels due to aggressive depreciation policy

Ship Chartering

17

Fleet Size and Utilization

107112107Total number of vessels

79%80%83%Barge

93%90%89%Tugboat

Utilization Rate (%)

596464Barge

484843Tugboat

FY2003FY2004FY2005Fleet Size (units)

18

Booming Marine & Offshore sector

3%3%4%Others

34%52%43%Shipping and marine logistic

64%46%53%Offshore oil & gas and related activities

FY2003FY2004FY2005Sectors

Growth Drivers

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Growing Shipbuilding Order Book

z Strong order book of $272.2 million to keep both Shipyards busy until 2007

z Profitability from Shipbuilding affected mainly by owner’s change in specifications. No further work with particular owner.

z Strong demand enables management to cherry pick more lucrative projects ie tanker segment and work vessel

21

Growing Ship Repair Business

z Expanding Capacity and Capabilities for Ship Repair– 20,000 dwt floating dock (operational in May 2005)

– 150,000 dwt graving dry dock (operational in 3Q2006)

z International Maritime Organisation (“ IMO” ) has regulated all single-hull tankers to be phased out by 2010 unless they are equipped with double hull

By 2006, ASL Marine would be one of the few shipyards in the region to have Cape size ship repair capacity and capabilities

22

Growing Chartering Business

z High utilisation rate of around 90%

z One-third of fleet is on long term charter while the remaining is on spot charter which commands higher margins

z Increased deployment of fleet in the Offshore Oil & Gas and related activities

23

z As the world’s second largest coal exporter after Australia, Indonesia has increased its coal exports to meet demand (101.7 million tonnes in 2004). Coal producers rely on marine logistics companies to move coal to main coal terminals

z ASL Energy has a 5-year contract worth $127 million to charter coal for PT Pelayaran Segara Niaga Utama (“PSNU” ). This contract is signed on affreightment terms, meaning PSNU is billed according to the volume of coal carried while ASL Energy bears crew and fuel costs. Fuel price escalation clause has been incorporated into the agreement

z Hence, contribution from ASL Energy is expected to grow exponentially

Coal: A Red-Hot Business

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z ASL Energy– Taken delivery of 18

tugboats and 15 barges worth an aggregate $22.3 million

• Most third-party charters were retired with these new vessels Æ profitability expected to further improve

– ASL Energy’s fleet• 30 tugboats and 32 barges

(As at 30 June 2005)

Coal: A Red-Hot Business

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z ASL Energy– Tabang Coal Concession- First shipment of coal from

Tabang coal concession made inJuly 2005

- Production of coal to takesome time to reach optimum capacity

- Guaranteed minimal operatingcashflow of US$3.0 million less amortisation expense of US$1.2 million would be the profit contribution expected for the coal mining and marketing business in FY2006

Coal: A Red-Hot Business

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z ASL Energy– 65,000 dwt Floating Terminal- Expected to be completed by end

1H2006- Group’s strategic investment to further

strengthen foothold in Indonesia coal industry and secures continuity to operations

Coal: A Red-Hot Business

Q&A