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New CEO and Placement, Positive Things Brewing?
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Joelton
Supreme |
04-Mar-2024 10:21
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Beng Kuang Marine
On Feb 29, Beng Kuang Marine : BEZ +4.05% CEO Yong Jiunn Run acquired 1.1 million shares at an average price of S$0.07 per share. With a consideration of S$80,900, this took his direct interest in the company to 4.99 per cent from 4.44 per cent.
On Feb 27, the offshore and marine industries solutions provider reported a positive turnaround for FY23 (ended Dec 31), with a net profit of S$7.4 million. Yong noted that the period had been a transitional year, as the group&rsquo s turnaround plan gathered pace on restoring its profitability, deleveraging its balance sheet and simplifying its operations with profitable business divisions.
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wooncs8870
Veteran |
04-Mar-2024 08:48
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If Beng Kuang insiders are so confident of buying their company' s shares, it means the prospects are bright and the share price likely to trend higher in the coming days or weeks. | ||||
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Giant8888
Senior |
03-Mar-2024 21:39
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Tomorrow BK will surely re enter 8 series and move higher. To move to the next level of growth, BK management should start SBB and issue dividend. Also there should preferably be a continual stream of corporate news like major contracts awards, collaboration, partnership tie ups etc. Target 15 to 20 cts medium term. Cheers
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tedlim
Veteran |
03-Mar-2024 20:45
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One Beng Kuang Marine Insider Raised Stake By 12% In Previous Year From what we can see, insiders were net buyers in Beng Kuang Marine Limited' s (SGX:BEZ ) during the past 12 months. That is, insiders acquired the stock in greater numbers than they sold it. Although we don' t think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. Beng Kuang Marine Insider Transactions Over The Last Year In fact, the recent purchase by Jiunn Yong was the biggest purchase of Beng Kuang Marine shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of S$0.077. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company' s future. If someone buys shares at well below current prices, it' s a good sign on balance, but keep in mind they may no longer see value. In this case we' re pleased to report that the insider bought shares at close to current prices. Jiunn Yong was the only individual insider to buy during the last year. Jiunn Yong bought a total of 1.95m shares over the year at an average price of S$0.07. So What Does This Data Suggest About Beng Kuang Marine Insiders? It' s certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. |
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tedlim
Veteran |
01-Mar-2024 11:14
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See slide 9, Our Asset Integrity Team (under ASOM) is one of the market leaders that provides in-situ services onboard of FPSOs with a growing market presence. Globally, we serve 24 FPSOs out of 186 FPSOs. In the West Africa Region, we serve 7 FPSOs out of 43 FPSOs. https://www.bkmgroup.com.sg/view& id=1231
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Joelton
Supreme |
01-Mar-2024 10:56
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Beng Kuang: CEO acquires 1.1 million shares from open market
Fueling the Future: An In-Depth Look at Geo Energy&rsquo s Multi-Year Growth Potential
By James Yeo //
February 29, 2024
Geo Energy Resources Limited (&ldquo Geo Energy&rdquo , the &ldquo Company&rdquo ), a major Indonesian coal producer, is poised for significant growth in the coming years. With a track record in operating coal mines and a focus on low-cost production of high-quality coal, Geo Energy has established itself as a reliable provider in Southeast Asia.
The Group owns 5 mining concessions through its subsidiaries:
Kalimantan, Indonesia
PT Sungai Danau Jaya
PT Tanah Bumbu Resources
PT Bumi Enggang Khatulistiwa
PT Surya Tambang Tolindo
South Sumatra, Indonesia
PT Triaryani
The Group also owns a 49% equity stake in PT Internasional Prima Coal in Kalimantan, Indonesia as a joint venture with PT Bukit Asam Tbk, a state-owned coal mining company and one of the largest coal producers in Indonesia.
In this article, we will explore Geo Energy&rsquo s robust FY2023 operational and financial performance, its strategic acquisitions and growth potential in the Asian coal market.
FY2023 Operational and Financial Performance
For the year 2023, Geo Energy achieved a revenue of US$489.0 million and net profit of US$62.7 million despite lower sales volume in 2023.
This is attributed to higher strip ratios in the SDJ and TBR mines due to their geology as well as the normalization of coal prices, with the Indonesian Coal Index Price for 4200 GAR (&ldquo ICI4&rdquo ) prices averaging US$62.96 per tonne in 2023 (2022: US$86.06 per tonne).
On a bright note, the Company exceeded its initial target, delivering a total of 8.4 million tonnes of coal in 2023, including 0.2 million tonnes from the recently acquired PT Triaryani (&ldquo TRA&rdquo ) mine.
This resilience demonstrates Geo Energy&rsquo s ability to navigate challenges and maintain profitability.
The Transformational Acquisition of PT Golden Eagle Energy Tbk
Geo Energy&rsquo s acquisition of PT Golden Eagle Energy Tbk (listed on IDX) in 2023, which in turn owns 85% of TRA mine, has been a defining moment for the company.
The TRA mine, with 2P reserves of over 275 million tonnes of high-quality coal reserves, offers favorable low ash and low sulfur characteristics that command premium pricing.
On top of bringing in accretive cash flow to the Group and extending the Group&rsquo s mine life by more than 20 years, this acquisition also provides access to world-class infrastructure and the potential to ramp up annual production to 25 million tonnes.
Riding on Twin-Boosters: Securing an Offtake Agreement and US$35 Million Equity Investment
According to this announcement, Geo Energy has secured an offtake agreement with EP Resources (&ldquo EPR&rdquo ) &ndash one of the largest power producers in Europe and ranks among the leading electricity producers based in the Czech Republic.
Under the agreement, EPR will buy from the Company&rsquo s subsidiary, Geo Coal International Pte Ltd (&ldquo GCI&rdquo ) a substantial portion of the export volume of TRA coal of up to 12 million tonnes per annum for the life of mine, which has been estimated to be 15 years.
In exchange, EPR will make available to GCI a standby prepayment facility of up to US$20 million.
And that&rsquo s not all!
The cherry on the icing is that Resource Invest AG (&ldquo ResInvest&rdquo ), a private commodities investment company, also intends to invest US$35 million in the shares of the Company.
This investment will be made through market acquisitions and direct purchases from Geo Energy and seeks to enable ResInvest to build up a minimum 5.5% stake in Geo Energy by 31 March 2026.
Among other things, ResInvest will be utilizing the bulk of the investment (US$20 million) to purchase Geo Energy shares in the open market.
In a nutshell, this offtake agreement coupled with a substantial equity stake in Geo Energy is set to strengthen its position in the market and sets the stage for future growth opportunities.
Rewarding Shareholders with Dividends
Geo Energy remains committed to its shareholders, evident in the proposed final dividend of 0.6 SG cents per share for 2023. This brings the total dividend for the year to 2.0 SG cents per share, equivalent to a dividend payout ratio of 33.7% and a dividend yield of 5.9% based on its share price of S$0.34.
Despite substantial investments for long-term growth, Geo Energy maintains its dividend policy of distributing 30% of net profits to shareholders, ensuring shareholders benefit from the company&rsquo s success.
Additionally, Geo Energy&rsquo s offtake agreement with EP Resources will ensure that there is a consistent income flow going forward, which is likely to trickle down to more dividend payouts in future.
Strong Coal Market amid Growing Demand
Despite the ongoing global transition to renewable energy sources, coal power plants continue to play a significant role in the energy landscape.
The affordability and reliability of thermal coal as a resource for energy generation ensures its sustained demand in the coming decade where alternative energy sources are still unable to fully replace coal in the near term.
Coal prices are also likely to remain high with a growing demand in the Asian market as well as a lack of construction of coal power plants globally.
For instance, China&rsquo s coal imports reached record highs in 2023, surging by 61.8% to 474.4 million metric tons. India, the second-largest importer of coal, aims to meet 50% of its electricity demand from renewables by 2030 but continues to rely on coal due to the lack of reliability of renewable.
Extreme weather events, such as El Niñ o and La Niñ a, also led to coal&rsquo s demand surge during periods of extreme cold and hot weather conditions.
Geo Energy&rsquo s ability to respond to these fluctuations positions the Company to meet the challenges posed by extreme weather conditions and capitalize on the demand for coal.
Conclusion
Geo Energy&rsquo s multi-year growth potential is driven by strong operational performance, strategic acquisitions, and the robust demand for coal in the Asian market.
The multiple acquisitions in the past years have significantly increased Geo Energy&rsquo s reserves, positioning the company for future growth. Within 5-6 years, Geo Energy aims to scale up its production to 25 million tonnes, representing a compound annual growth rate of 18.6%.
Lastly, with a commitment to reward shareholders through dividends and a long-term vision for growth, Geo Energy is well-positioned to fuel the future of the Indonesian coal industry.
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tedlim
Veteran |
01-Mar-2024 10:17
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Their IE business division is very promising..look at BLUE - With part of its turnaround strategy comprising an asset-light and service-oriented business model that is anchored by its two core business divisions, IE and CP, the Group continue to perform resiliently within the offshore and marine market, particularly in the 2H2023 as revenue surged 57.2% to S$47.31 million - Higher demand for its FPSO and FSO contracting and maintenance services propelled the Group&rsquo s IE growth momentum with organic revenue growth of 85.9% and 47.0% in 2H2023 and FY2023 respectively PLUS Beng Kuang now likely flush with cash (S$12.2 + S$7.6m = S$19.8m): - As compared to the previous corresponding period, the Group&rsquo s cash and cash equivalents increased significantly by 81.6% to S$12.19 million, while total borrowings reduced 36.3% to S$14.14 million as at 31 December 2023. &bull In January 2024, the Group completed the final partial land sale of its Batam shipyard property and it has received the remaining amount of the sale consideration of approximately S$7.6 million in cash |
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TraderBen
Supreme |
01-Mar-2024 08:42
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confirm buying cheap... market cap 16m.. profits 7m... the poorest in numbers also will know how to count
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WBdisciple
Elite |
01-Mar-2024 08:28
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Beng Kuang: CEO acquires 1.1 million shares from open market https://www.bkmgroup.com.sg/frontend/web/index.php?r=attachment/download& id=1260 buying cheap again... |
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vijayvemuri.v
Member |
29-Feb-2024 12:42
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This stock quite unpredictable. sudden down and sudden fall. | ||||
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For_The_Next_Leg
Master |
28-Feb-2024 21:22
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$Beng Kuang(BEZ.SI) The company really turnaround. Even without the " Other Gains" of $4m, the company is still profitable! This meant that moving forward, the company will really start to become more profitable.
https://links.sgx.com/1.0.0/corporate-announcements/5J8H3P1B4BVKPWM0/a5ae09e5c61190a2661ee65f354af66806a1405508e1c1fd528dd180252e4818
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tedlim
Veteran |
27-Feb-2024 10:22
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Warren Buffett&rsquo s &lsquo secret sauce&rsquo for investing success: Be &lsquo business pickers&rsquo not &lsquo stock pickers&rsquo
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WBdisciple
Elite |
27-Feb-2024 10:15
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my take on their FY2023: 1. 2H2023 revenue growth of 57% likely shows that organic growth is still going strong...and this is impt for Fy2024 results 2. gross profit margin of +30% also indicates that company can control costs well. And when revenue jumps, Gross Profit will rise up organically as well. 3. Cash increased significantly by 81.6% to S$12.19 million, while total borrowings reduced 36.3% to S$14.14 million as at 31 December 2023. Adding the S$7.6M cash received in Jan 2024, the Company likely in a cash position of S$5m now. 4. Company generated S$6m from ops in FY2023 and if this continues in FY2024 (without signifcant capex...unlikely in my opinion as they have been monetising assets), the Company will have cash of S$11 million. 5. Market cap is only S$16 million now...if this is your company, would you sell for S$16 million with the above??? Another good sign is that insiders are buying via open market...AND they deliver results, not talk only... pls DYODD.. |
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Midtermer
Master |
27-Feb-2024 10:12
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This counter will go up when least expected. Difficult to contra. At least FA is good for now.
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tofudidi
Supreme |
27-Feb-2024 09:24
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Bb give chance for us to scoop durian before go 9 series, hehehe.. | ||||
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piscesmonkey
Supreme |
27-Feb-2024 09:16
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Think is up alot before result.
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TraderBen
Supreme |
27-Feb-2024 09:15
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as usual.. good results price drop.. wth.. SGX.. | ||||
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tofudidi
Supreme |
27-Feb-2024 09:01
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Going to clear 8 series.. 100 here we go | ||||
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WBdisciple
Elite |
27-Feb-2024 07:50
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Powered by Strong Business Drivers in 2H2023, Beng Kuang Group Makes Turnaround with Net Profit of S$7.92 Million in FY2023. Revenue Growth Increased 33.9% to S$79.16 Million with Gross Profit Surging 98.9% to S$24.91 Million - With part of its turnaround strategy comprising an asset-light and service-oriented business model that is anchored by its two core business divisions, IE and CP, the Group continue to perform resiliently within the offshore and marine market, particularly in the 2H2023 as revenue surged 57.2% to S$47.31 million - Higher demand for its FPSO and FSO contracting and maintenance services propelled the Group&rsquo s IE growth momentum with organic revenue growth of 85.9% and 47.0% in 2H2023 and FY2023 respectively - Coupled together with the exit of its loss-making business operations, the Group&rsquo s costs minimisation and productivity measures undertaken in recent years have progressively improved its gross profit margin to 31.5% in FY2023 from 21.2% in FY2022, driving gross profit growth of 98.9% to S$24.91 million in FY2023 - Net cash inflow generated from operating activities was S$5.95 million in FY2023 - During FY2023, the Group announced partial land sales and asset disposals with an aggregate consideration of approximately S$22.5 million in cash as part of its monetisation and deleveraging initiatives - As compared to the previous corresponding period, the Group&rsquo s cash and cash equivalents increased significantly by 81.6% to S$12.19 million, while total borrowings reduced 36.3% to S$14.14 million as at 31 December 2023. - In January 2024, the Group completed the final partial land sale of its Batam shipyard property and it has received the remaining amount of the sale consideration of approximately S$7.6 million in cash - Expects to sustain and build upon this positive business momentum for FY2024 by targeting the emerging growth trends within the offshore and marine industry Commenting on the Group&rsquo s FY2023 results, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said: FY2023 has been a transitional year as our turnaround plan gathers pace on restoring the Group&rsquo s profitability, deleveraging our balance sheet and simplifying our operations with profitable business divisions. The encouraging results to date support our belief that we are on the right track. Notably, the Group&rsquo s two core business divisions delivered strong underlying performance, particularly our IE business division has been charting an upward growth trajectory serving the FPSOs and FSOs market with repair and maintenance services globally. With the progress made in recent years, we have emerged with a stronger financial footing and business agility. We will continue to focus our strategic efforts on high-growth business segments with our two core business divisions, while methodically improving our operating efficiencies and asset utilisation rates. Building on our strong business momentum in 2H2023, we aim to capitalise on emerging growth trends within the offshore and marine industry in FY2024 and develop a new phase for the Group&rsquo s future growth. |
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TraderBen
Supreme |
27-Feb-2024 07:36
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https://links.sgx.com/1.0.0/corporate-announcements/VXUIG8021B2KRZJE/789814_BKM_FY2023_Press%20Release%20FY2023.pdf
Out!! Omg.. profits alrdy 1/3 of the whole market cap.. how to not fly??
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