Post Reply
401-413 of 413
Shortist bb buyback higher 100
Cheers
15 cts otw
MBULLISH ( Date: 08-May-2023 12:17) Posted:
|
Can price run after 3 pm ?
Waiting for it
Waiting for it
You know I know
Surely contracts will be more and more next 2 years with shipping and oil gas recovery
Just buy and hold
25-30 cent will be fantastic gains
Tiring to go in and out contras
Surely contracts will be more and more next 2 years with shipping and oil gas recovery
Just buy and hold
25-30 cent will be fantastic gains
Tiring to go in and out contras
ahsamtan98 ( Date: 07-May-2023 00:21) Posted:
|
Breaking 105
Get in if not regret
120 next after 105
Dynamac in the making
BBs ready
Get in if not regret
120 next after 105
Dynamac in the making
BBs ready
Could this mean more business for Beng Kuang? https://www.seatrade-maritime.com/dry-bulk/zhejiang-shipping-sets-office-singapore
Hot Stock: Beng Kuang Marine Up on Heavy Volume
Recently, Beng Kuang signs Agreement to sell approximately one-third of its Batam Shipyard property for S$8.64 million to a subsidiary of Oil States Industries, Inc., a major global provider of integrated energy systems and solutions. The waterfront shipyard property will be subdivided into smaller land parcels and 90,000 square metre, representing approximately one-third of the total land area, will be sold under the agreement
For FY2022, Beng Kuang posted revenue growth of 15.2% to S$59.13 million Achieved adjusted EBITDA of S$2.80 million with net cash of S$7.39 million generated from operating activities
The Group&rsquo s IE and CP business divisions were the key revenue contributors in FY2022 with the IE business division posting revenue growth of 30.5% in FY2022, driven by strong performance of its ASOM business unit and deck equipment business unit
The Group&rsquo s IE order book stood at S$19.40 million as at 31 December 2022, of which S$16.28 million was attributed to ASOM that provides specialised on-site vessel repair and maintenance solutions to operating floating asset, such as FPSO and FSO vessels, leveraging on SPS Technology
With a substantial amount of fixed assets in the balance sheet, the Group registered a depreciation expense (non-cash component) of S$6.65 million for FY2022
Under the CEO, the Group has been prioritising costs minimisation and deleveraging initiatives, while focusing on monetising fixed assets and high-potential business segments to create new growth catalysts
Beng Kuang Marine scales year-to-date high on news of partial shipyard sale
SHARES of Beng Kuang Marine : BEZ +60% surged to a year-to-date high on Thursday (Apr 13) morning after the mainboard-listed maritime company announced on Wednesday that it was selling a part of its Batam shipyard property above book value.
As at 9.37 am, the counter was up 52.5 per cent or S$0.021 to S$0.061 with 4.1 million shares changing hands. The last time it traded at such levels was in October 2022. It later eased to S$0.059, up 47.5 per cent or S$0.019, as at 10.21am.
Beng Kuang last closed 5.3 per cent or S$0.002 higher at S$0.04 on Tuesday before it issued a trading halt the following morning, pending the release of its announcement.
No married deals took place in early trade, according to ShareInvestor data.
The share-price movement comes after the group on Wednesday said that it agreed to sell 90,000 square metres (sq m), or a third of its Batam waterfront shipyard property, for S$8.6 million to a subsidiary of Oil States Industries, a provider of integrated energy systems and solutions.
As part of the conditional land sale and purchase agreement, the 328,956 sq m shipyard, including the land to be sold, has been subdivided into smaller land parcels.
Beng Kuang is also required to provide a zoning confirmation letter that the 90,000 sq m land can be utilised for the operation of an oil and gas industry and its supporting facilities. The group will additionally have to obtain new rights to build certificates, or split any such existing certificates, to cover the land being sold.
As at end-2022, the net book value of the land stands at S$631,282. Its consideration stands at an excess of about S$7.7 million over the land&rsquo s net book value.
According to Beng Kuang, the consideration sum was determined after an independent valuation report was issued this year on Jan 16 to impute a S$7.2 million value on the land.
It also takes into account that the Batam shipyard, which the land is part of, has remained under-utilised since 2014 due to the downturn in the offshore oil and gas sector.
Beng Kuang said that it intends to use net proceeds of the sale to repay its bank borrowings, as well as for general working capital.
This will significantly enhance the group&rsquo s liquidity position and strengthen its balance sheet while reducing its gearing and interest expenses, said chief executive Yong Jiunn Run.
&ldquo Building on this momentum, Beng Kuang Group will have more financial agility to harness the opportunities in the marine and offshore industries, accelerating our turnaround strategy in 2023,&rdquo added Yong.
Short squeeze is here... 65 to 70 is near....
Beng Kuang Signs Agreement to Sell Approximately One-Third of its Batam Shipyard Property for S$8.64 Million
&bull The Group has a waterfront shipyard property with a total area of 328,956 square metre, including sea frontage, on the eastern side of Batam Island, Kabil
&bull The waterfront shipyard property will be subdivided into smaller land parcels and 90,000 square metre, representing approximately one-third of the total land area, will be sold under the agreement to a subsidiary of Oil States Industries, Inc., a major global provider of integrated energy systems and solutions
&bull As of 31 December 2022, the net book value of the proposed land sale of 90,000 square metre is approximately S$0.6 million
&bull The gross proceeds of S$8.64 million from this transaction will be used to reduce the Group&rsquo s borrowings and for general working capital
Singapore, 12 April 2023 &ndash Beng Kuang Marine Limited (&ldquo 明 光 集 团 &rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Beng Kuang Group&rdquo or the &ldquo Group&rdquo ), is pleased to announce that the Group has entered into a conditional land sale & purchase agreement to sell a part of its Batam waterfront shipyard property for S$8.64 million to a subsidiary of Oil States Industries, Inc., a major global provider of integrated energy systems and solutions.
In the recent years, the Group has been prioritising cost minimisation and deleveraging initiatives, while focusing on monetising fixed assets and high-potential business segments within its core business divisions to create new growth catalysts.
Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said: &ldquo Capping another milestone in rationalising our fixed assets and transition towards an asset-light business model, this transaction provides an opportunity for the Group to unlock value and partially monetise our shipyard property at a premium to our initial investment.
The proceeds from this transaction will significantly enhance our liquidity position, strengthen our balance sheet and further reduce our gearing as well as interest expenses.
Building on this momentum, Beng Kuang Group will have more financial agility to harness the opportunities in the marine and offshore industries, accelerating our turnaround strategy in 2023.&rdquo
Beng Kuang to sell one-third of its Batam shipyard for $8.64 mil (theedgesingapore.com)
https://www.theedgesingapore.com/capital/ma/beng-kuang-sell-one-third-its-batam-shipyard-864-mil
&ldquo The proceeds from this transaction will significantly enhance our liquidity position, strengthen our balance sheet and further reduce our gearing as well as interest expenses. Building on this momentum, Beng Kuang Group will have more financial agility to harness the opportunities in the marine and offshore industries, accelerating our turnaround strategy in 2023,&rdquo he adds.
https://www.theedgesingapore.com/capital/ma/beng-kuang-sell-one-third-its-batam-shipyard-864-mil
&ldquo The proceeds from this transaction will significantly enhance our liquidity position, strengthen our balance sheet and further reduce our gearing as well as interest expenses. Building on this momentum, Beng Kuang Group will have more financial agility to harness the opportunities in the marine and offshore industries, accelerating our turnaround strategy in 2023,&rdquo he adds.
Perhaps Beng Kuang Marine would be able to take advantage of these trends? https://www.rivieramm.com/news-content-hub/news-content-hub/key-technology-trends-transforming-shipping-in-2023-74237