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No big walls.
https://links.sgx.com/1.0.0/corporate-announcements/J5O10YJVB8M92EP8/874951_Feb_12_2026%20ASL_1HFY2026_Presentation.pdf
spursfan ( Date: 12-Feb-2026 18:17) Posted:
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Updated ASL Marine Holdings Ltd (SGX: A04) Report &mdash 2026 Data
Current Stock Information (as of Feb 2026)
|
Metric |
Value |
|---|---|
|
Current Price |
~S$0.32 |
|
Market Cap |
S$267-329 million |
|
52-Week Range |
S$0.053 &ndash S$0.33 |
|
P/E Ratio (TTM) |
~21x |
|
Beta |
0.70 |
|
Volatility |
5.56% (very high risk) |
Key 2026 Financial Highlights &mdash Q1 FY2026 (ended Sept 30, 2025)
The company has delivered exceptional Q1 FY2026 results :
|
Metric |
Q1 FY2026 |
Q1 FY2025 |
Change |
|---|---|---|---|
|
Revenue |
S$94.2 million |
S$84.0 million |
+12.1% |
|
Net Profit |
S$8.3 million |
S$0.5 million |
+1,560% |
|
EBITDA |
S$20.4 million |
S$18.0 million |
+13.3% |
|
Finance Costs |
Reduced by ~S$4 million |
&mdash |
Significant deleveraging |
Key drivers:
-
Increased revenue from shipbuilding and ship repair, conversion & engineering services -
Ship chartering segment remained stable -
Successful deleveraging efforts reducing finance costs significantly
Recent Major Contract Wins (Oct 2025)
ASL Marine secured S$82 million in new ship chartering contracts :
-
Contracts span 2-3 years -
Comprising tugs, work boats, crane barges, cargo barges, hopper barges, and grab dredgers -
Support marine infrastructure projects in Singapore -
Will contribute to revenue over FY2026-FY2028
Fleet Optimization & Asset Divestment
In October 2025, the Group signed S$55 million in vessel sale contracts :
-
Part of fleet optimization program -
Accelerates deleveraging efforts -
Streamlines fleet portfolio
FY2025 Full Year Performance (for context)
|
Metric |
FY2025 |
FY2024 |
Change |
|---|---|---|---|
|
Revenue |
S$350.1 million |
&mdash |
&mdash |
|
Net Profit |
S$14.7 million |
S$3.8 million |
+291% |
|
Adjusted EBITDA |
S$83.7 million |
S$85.7 million |
Stable |
|
Operating Cash Flow |
S$45.8 million |
&mdash |
Strong generation |
|
Dividend |
0.2 cents/share (final) |
&mdash |
First dividend in years |
Updated Analyst Views & Price Targets
|
Source |
Rating |
Price Target |
|---|---|---|
|
Lim & Tan Securities |
Buy |
S$0.33 (raised from S$0.30) |
|
StockInvest.us |
Buy Candidate |
Technical buy signals active |
|
WalletInvestor |
&mdash |
S$0.342 (1-year target) |
|
Morningstar |
&mdash |
Fair value S$9.76 (quantitative) |
Technical Analysis (Updated Feb 2026)
Current Technical Levels :
-
Support levels: S$0.308 (S1), S$0.312 (S2), S$0.318 (S3) -
Resistance levels: S$0.328 (R1), S$0.332 (R2), S$0.338 (R3) -
50-day MA: ~S$0.28 -
200-day MA: ~S$0.16
Technical Indicators :
-
✅ Buy signal from short-term Moving Average -
✅ Buy signal from long-term Moving Average -
✅ MACD buy signal -
⚠ ️ Recent sell signal from pivot top (Nov 12, 2025) &mdash short-term pullback possible
Updated Entry Point Assessment
Current Situation (Feb 2026):
-
Stock trading at ~S$0.32, near 52-week high of S$0.33 -
Has gained ~500-600% from 52-week low of S$0.053 -
Strong momentum driven by exceptional Q1 FY2026 results
Entry Strategies:
|
Strategy |
Entry Range |
Rationale |
|---|---|---|
|
Conservative |
S$0.28-0.30 |
Wait for pullback to 50-day MA or support zone |
|
Moderate |
S$0.30-0.32 |
Scale in on any weakness near current levels |
|
Aggressive |
S$0.32-0.33 |
If you believe in continued momentum and new contract execution |
Risk Considerations :
-
⚠ ️ Very high risk rating due to volatility (5.86% daily average) -
⚠ ️ Stock has run up significantly &mdash profit-taking possible -
⚠ ️ Low liquidity periods can cause sharp moves -
⚠ ️ Cyclical marine sector exposure
Key Catalysts to Watch in 2026
-
Next Earnings: Feb 12, 2026 (half-year results) -
Contract execution: S$82M chartering contracts + S$55M vessel sales -
Deleveraging progress: Continued debt reduction -
Shipbuilding deliveries: S$83M order book delivering through Q3 FY2026 -
Dividend policy: First dividend in FY2025 &mdash potential for continuation
Bottom Line &mdash 2026 Update
ASL Marine has demonstrated a remarkable turnaround with:
-
✅ 3 consecutive years of profitability -
✅ Q1 FY2026 net profit up 1,560% YoY -
✅ Strong order book visibility (S$82M new contracts) -
✅ Successful deleveraging (S$4M reduction in finance costs) -
✅ First dividend declared in recent years
However, at ~S$0.32, the stock is near analyst price targets and 52-week highs. The exceptional Q1 performance may already be largely priced in.
Recommended Entry: A pullback to S$0.28-0.30 would offer a more attractive risk-reward ratio, allowing entry near the 50-day moving average with stop-loss around S$0.25
Madness!!!! Glad that my costs is $0.07.
PRESS RELEASE
ASL Marine&rsquo s Continual Business Momentum Drives First Half Net Profit of $17.1 Million to Surpass 2025&rsquo s Full Year Net Profit of $14.7 Million
Declares Interim Dividend of 0.13 SG cents per Share
https://links.sgx.com/1.0.0/corporate-announcements/J5O10YJVB8M92EP8/874950_ASL_Press%20Release_1HFY2026.pdf
ASL Marine&rsquo s Continual Business Momentum Drives First Half Net Profit of $17.1 Million to Surpass 2025&rsquo s Full Year Net Profit of $14.7 Million
Declares Interim Dividend of 0.13 SG cents per Share
https://links.sgx.com/1.0.0/corporate-announcements/J5O10YJVB8M92EP8/874950_ASL_Press%20Release_1HFY2026.pdf
more upside ....
UOB Kay Hian lifts ASL Marine&rsquo s TP to 35 cents on &lsquo thriving&rsquo business
UOB Kay Hian analyst Heidi Mo has reiterated her &ldquo buy&rdquo call on ASL Marine with a higher target price of 35 cents from 33 cents previously.
Mo&rsquo s bullishness is underpinned by several reasons, as noted in her research report dated Jan 13.
Firstly, Mo believes ASL&rsquo s repairs segment will drive the shipyard&rsquo s next phase of growth. On the micro level, she notes that the ship repairs segment has grown at a compounded annual growth rate (CAGR) of around 3% since 2019, highlighted by a 7% y-o-y increase in 2025 repair yard visits.
The analyst backs up her argument and shares sector trends that would support repairs growth. These include older vessels requiring around 20% more work than earlier survey intervals when entering their 15-year special surveys. Vessel surveys are mandatory, periodic inspections by classification societies to ensure ships remain structurally sound and meet safety standards.
Furthermore, she points out that decarbonisation and retrofit requirements are compelling owners to undertake drydocking regardless of freight or commodity price cycles.
For Mo, these factors reinforce the repairs business as a &ldquo recurring, higher margin&rdquo earnings pillar that is less prone to economic cycles and volatility.
Secondly, Mo believes ASL&rsquo s charter business provides a &ldquo high quality&rdquo and relatively defensive earnings base. She writes that ASL&rsquo s near-term earnings is anchored by its charter business with $82 million of infrastructure-linked chartering contracts providing strong earnings visibility. According to Mo, she expects Singapore&rsquo s multi-decade marine projects, including Tuas Mega Port and coastal protection works, to drive sustained demand for tugs, barges, crane barges and dredging-related assets, with ASL presumably working on some of these projects.
With regards to the offshore oil and gas (O& G) sector, Mo thinks that this segment provides upside. She notes that since ASL has transformed its business to move away from &ldquo speculative&rdquo newbuilds that serve O& G to its current focus on repairs and chartering, any re-entry into O& G would represent bonus earnings.
Finally, Mo believes in ASL&rsquo s strengthened balance sheet, after nearly a decade of paring debt. Borrowings, which was once as high as $592 million in 2016, stood at less than $179 million as at 30 Jun 2025.
Due to the combination of stronger revenue and lower debt burden, ASL generated $46m in operating cash flow, enabling the company to resume dividends for the first time in nearly a decade. Mo is optimistic that as the company continues to deleverage, more free cash flow will be generated which can provide higher shareholder returns via dividends, presumably all the way into FY 2027.
Based on a valuation of 11.6 times forecasted P/E in 2026, Mo sees a nearly 30% upside in the counter at its Jan 12 closing price of 27 cents which is only nine times forecasted P/E.
ASL Marine buy target price raised to S$0.35 - Heidi Mo UOBKH
From Surviving To Thriving: Repair Driving Next Phase Of Growth
Ship repair tailwind. An ageing global fleet, tighter regulations and decarbonisation needs are driving steady growth in ship repair. Repair activity has grown ~3% CAGR since 2019, with 2025 yard visits up 7% yoy. Older vessels entering 15-year surveys require ~20% more work, lifting revenue per docking. This supports ASL&rsquo s recurring, higher-margin and counter-cyclical earnings.
Infrastructure-led visibility. Singapore&rsquo s long-term port and coastal projects underpin strong charter demand, with S$82m of infrastructure-linked charter contracts providing defensive and visible earnings over the next 1&ndash 2 years.
Offshore upside optionality. ASL has prior offshore vessel-building experience but has since maintained capital discipline. The current recovery is repair-led, with any return to PSV construction likely customer-backed, providing earnings and orderbook upside rather than a base-case assumption.
Maintain BUY with a higher target price of S$0.35 (S$0.33 previously). Our target is pegged to 11.6x FY26F PE, in line with its peers. ASL currently trades at 9x FY26F PE, implying a 30% discount to peers despite a clear earnings recovery.
Gemini research provides the following:
Core Business Segments
Shipbuilding: Focuses on standardized, shorter-cycle vessels like tugs, barges, and workboats. As of late 2025, the shipbuilding order book stood at approximately S$83 million (31 vessels), with deliveries scheduled through the first quarter of 2026.
Ship Repair & Conversion: Operates four shipyards in Singapore, Batam (Indonesia), and Guangdong (China). This is the company' s highest-margin segment, with a third floating dock targeted for commissioning in early FY2027 to expand capacity by 20%.
Ship Chartering: Manages a fleet of over 130 vessels, primarily serving marine infrastructure, dredging, and land reclamation projects. In October 2025, it secured new contracts worth S$82 million for coastal protection and reclamation work in Singapore.
Company looking to obtain a higher revenue in 2026 with all the above progression!
Will consider buying some if it goes down to 0.25
It?s PE quite high, be careful sellers and shortists heard, longists beware. Trade with care.
longterminvestor ( Date: 10-Dec-2025 10:21) Posted:
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After PR should be MERMAID....their 3Q results was solid profitable marine OSV
piscesmonkey ( Date: 10-Dec-2025 10:08) Posted:
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Hmm pacific radiamce also chipng up
piscesmonkey ( Date: 10-Dec-2025 09:49) Posted:
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Bought 255 100lots. Hit strong suppory at 250. Rebound back 285 spon sonce marco polo chiong up high
piscesmonkey ( Date: 08-Dec-2025 11:37) Posted:
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2 house target above 0.330 should be soon move up 30cents
piscesmonkey ( Date: 08-Dec-2025 11:19) Posted:
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Support should be around 255 soon rebound from here
For_The_Next_Leg ( Date: 08-Dec-2025 11:12) Posted:
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A target price of 35 cents!
nextinsight.net/story-archive-mainmenu-60/948-2025/16470-asl-marine-from-distress-to-deleveraging-1qfy26-is-a-comeback-quarter
Once clear 280 start to move up above 30cents
Stocky901 ( Date: 03-Dec-2025 09:53) Posted:
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Sold off 275.. requeued at lower points... ✌ ️
Stocky901 ( Date: 28-Nov-2025 10:56) Posted:
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