Stock Analysis: ASL Marine | Lianhe Zaobao

ASL Marine Holdings recommends a buy with a target price of SGD 0.35, closing price at SGD 0.26 (-1.92%). In the first quarter of the fiscal year 2026, revenue was SGD 94 million, and net profit was SGD 8 million, exceeding expectations, mainly due to improvements in ship maintenance, shipbuilding, and chartering businesses. The company secured SGD 82 million in new contracts and expects the gross margin for the chartering business to remain between 10% and 15%. Management will focus more on ship maintenance and leasing businesses and stated that recent ship sales are part of a deleveraging plan. Net profit forecasts have been raised by 6% to 9%, maintaining a "buy" rating