OCBC says buy ASL Marine stock

Singapore: A research report out today by OCBC maintains a Buy on shipyard ASL Marine’s stock, something it has been championing since mid-February. 
“Unlike many other shipyards, ASL has a much more diversified business model – its shipbuilding, shiprepair & conversion as well as shipchartering segments have all been significant contributors to total gross profit,” analysts Low Pei Han and Chia Jiun Yang wrote. 
Moreover, OCBC expects the group to double its capex to about S$115m in the next financial year compared to just S$67m this year. [21/09/12]

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