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Beng Kuang Marine completion of the proposed placement of up to 15,625,000 new ordinary shares at an issue price of S$0.32 per share
(Company Registration No. 199400196M)
(Incorporated in the Republic of Singapore)
COMPLETION ANNOUNCEMENT
The Board of Directors (the &ldquo Board&rdquo ) of Beng Kuang Marine Limited (the &ldquo Company&rdquo ) refers to the Company&rsquo s earlier announcements relating to the proposed transaction.
The Board wishes to announce that the proposed transaction has been completed in accordance with the terms and conditions set out in the relevant agreement.
Following completion of the transaction, the Company has issued and allotted new ordinary shares in the capital of the Company (the &ldquo Consideration Shares&rdquo ) to the relevant parties as part of the agreed consideration.
The Consideration Shares are issued free from all claims, charges, liens and other encumbrances and will rank pari passu in all respects with the existing ordinary shares of the Company, except that they will not rank for any dividends, rights, allotments or other distributions, the record date of which falls on or before the date of issuance of the Consideration Shares.
The Company has applied to the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ) for the listing and quotation of the Consideration Shares on the Mainboard of the SGX-ST. Approval from SGX-ST is subject to the satisfaction of the relevant conditions.
Upon the issuance of the Consideration Shares, the Company&rsquo s total number of issued and paid-up ordinary shares will increase accordingly.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
Beng kuang is a direct beneficiary of the high oil prices now as they have full ownership of ASOM and the lucrative FPSO business. High oil prices translates to super FPSO margins and business. At current price, Beng kuang is CHEAP.
BENG KUANG PROPOSED PLACEMENT with SAC to Raise up to S$5m
1. INTRODUCTION
1.1. The board of directors (the &ldquo Board&rdquo or the &ldquo Directors&rdquo ) of Beng Kuang Marine Limited (the &ldquo Company&rdquo , together with the subsidiaries, the &ldquo Group&rdquo ) wishes to announce that the Company has on 26 February 2026 entered into a placement agreement with SAC Capital Private Limited (the &ldquo Placement Agent&rdquo ) (the &ldquo Placement Agreement&rdquo ).
1.2. Pursuant to the Placement Agreement, the Company has agreed to offer, by way of placement, and the Placement Agent has agreed, on a best endeavours basis, to procure subscriptions for, an aggregate of up to 15,625,000 fully paid-up ordinary shares in the capital of the Company (the &ldquo Placement Shares&rdquo ) at an issue price of S$0.32 for each Placement Share (the &ldquo Placement Price&rdquo ), amounting to an aggregate consideration of up to S$5,000,000 (the &ldquo Proposed Placement&rdquo ).
Beng Kuang Group to Take Full Ownership of Subsidiary, ASOM,which Specialises in High-Value, Mission-Critical Service in the Energy Market via S$60 Million Acquisition
&bull ASOM operates in the high-value, mission-critical offshore lifecycle services segment, providing asset life extension, regulatory compliance and operational reliability solutions for offshore floating production assets.
&bull ASOM has been a key contributor to the Group&rsquo s revenue and profitability in recent years, supported by its embedded resident contractor model and recurring order pipeline across long-term client relationships.
&bull The Proposed Acquisition will allow the Group to consolidate 100% ownership of a proven earnings- generating platform, enabling full recognition of ASOM&rsquo s earnings and cash flows while strengthening operational control and strategic flexibility.
&bull The transaction structure incorporates performance-based earn-out safeguards, reflecting disciplined capital allocation and strong alignment with the vendors.
&bull For illustrative purposes only and assuming the Proposed Acquisition had been completed on 1 January 2025, the earnings per share of the Company for FY2025 would increase from 2.61 Singapore cents to 4.80 Singapore cents per share, representing an increase of approximately 84%.
&bull An extraordinary general meeting will be convened to seek shareholders&rsquo approval for the Proposed Acquisition and the allotment and issuance of the Consideration Shares. Further details will be announced in due course.
Upon completion of the transaction, Beng Kuang Group will hold a 100% equity stake in ASOM.The aggregate consideration shall comprise:
-S$20 million, to be satisfied by the issuance and allotment of 57,142,857 new ordinary shares in the Company (the &ldquo Consideration Shares&rdquo ) at an issue price of S$0.35 per share
-S$20 million in cash, payable at completion and
-up to S$20 million in aggregate, payable in cash as deferred and contingent consideration, subject to ASOM&rsquo s net profit to be at least S$15 million for FY2026 and FY2027.
Commenting on the Proposed Acquisition, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said: &ldquo ASOM has been central to the Group&rsquo s transition into a higher-margin, asset-light and service-driven energy solutions platform, supported by structurally recurring demand for offshore asset integrity and life-extension services.Over the past few years, ASOM has delivered consistent revenue growth, strong cash flows and resilient profitability, underpinned by its embedded &lsquo resident contractor&rsquo model across more than 20 offshore floating assets globally.
The proposed acquisition allows the Group to consolidate 100% of ASOM&rsquo s earnings and cash flows, strengthening our operational control and long-term strategic flexibility. Importantly, the transaction is structured with performance-based earn-out safeguards, ensuring alignment and capital discipline. We believe this acquisition enhances earnings visibility, reinforces our competitive positioning within the offshore lifecycle services segment, and creates sustainable long-term value for shareholders. In conjunction with the Proposed Acquisition, the Company is undertaking a private placement to strengthen its capital base and support the enlarged Group&rsquo s growth strategy.&rdquo
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moving higher
+0.015moving higher
ozone2002 ( Date: 10-Nov-2025 11:14) Posted:
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Beng Kuang Group Maintains Profitability Amid Revenue and Forex Headwinds in FY2025 Proposes 0.6 SG Cents Dividend
&bull The resilience inherent to the Group&rsquo s asset-light, service-oriented business model enabled gross profit margin to be sustained with profitability despite lower revenue performance (which was mainly
due to timing delays of offshore asset integrity projects within the IE division).
&bull Strong cash generation with operating cash flow of S$26.55 million in FY2025, supported by strong cash conversion and disciplined working capital management.
&bull Total equity increased 26.9% to S$36.14 million with cash and cash equivalents increasing significantly to S$37.38 million with full redemption of its corporate bonds as at 31 December 2025, strengthening the Group&rsquo s financial flexibility.
&bull Proposed cash dividend of 0.6 SG cents per ordinary share represents a dividend payout of 23.5% of the net profit attributable to shareholders in FY2025.
&bull Together with a multi-pronged strategy under BKM 2.0, the Group continues to actively target selected high-growth segments of the global energy market to shape a more resilient and higher-value enterprise.
Striving to be the &ldquo Preferred and Trusted Partner&rdquo in providing total solutions for the offshore and marine industries, the Group&rsquo s business model is anchored by two core business divisions as follows:
1. Infrastructure Engineering (&ldquo IE&rdquo ) &ndash Providing a wide range of engineering services, including repairs and maintenance of floating production platforms, onshore and offshore marine fabrications, the production and supply of customised pedestal cranes and deck equipment, and specialised industrial chemical cleaning.
2. Corrosion Prevention (&ldquo CP&rdquo ) &ndash Providing comprehensive corrosion protection services such as surface preparation and application of protective coatings as part of the marine and offshore energy sectors.
Commenting on the Group&rsquo s results, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said:
&ldquo FY2025 marks another year of resilient performance for the Group, notwithstanding the temporary revenue impact within our Infrastructure Engineering division arising from project timing and scope re-sequencing, which were largely driven by external factors.
While project schedules may fluctuate, the structural demand for asset integrity and life-extension solutions remains intact. Our continued focus on high-value, mission-critical services &mdash spanning asset life extension, regulatory compliance and operational reliability &mdash reinforces the strategic relevance of our capabilities across market cycles.
A significant proportion of the Group&rsquo s work continues to be derived from repeat engagements on operating offshore assets, reflecting long-standing customer relationships and high switching costs. To date, the Group has supported asset integrity and life-extension works across more than 20 offshore floating assets globally, underscoring the recurring and essential nature of our services.
Through disciplined execution and a clear strategic focus, the Group sustained healthy gross profit margins and generated strong operating cash flows during the year. We also continued to strengthen our balance sheet, including the full redemption of our corporate bonds as part of our ongoing deleveraging efforts.
At the same time, we are building momentum in adjacent, capex-light growth areas such as deck
equipment, shipbuilding and specialised industrial chemical cleaning, which complement and extend
our core capabilities.
Looking ahead, our BKM 2.0 strategy provides a clear roadmap to position the Group as a more resilient,
asset-light and service-centric platform, supporting sustainable value creation over the longer term.&rdquo
Key Financial Highlights for FY2025
Revenue & Business Performance
&bull Revenue declined 12.3% year-on-year (YoY) to S$98.16 million (FY2024: S$111.88 million),mainly due to timing delays in offshore asset integrity projects within the IE division.
&bull Revenue timing delays arose principally from external parties&rsquo revisions to project scope andwork sequencing for optimisation and life-extension of floating assets.
&bull While revenue recognition was deferred in FY2025, the underlying work scope remains intactand is expected to be recognised in line with future project milestones.
&bull Asset integrity and life-extension projects have historically contributed significantly to revenue,and the Group continues to maintain a healthy pipeline of ongoing work orders.
&bull IE remained the Group&rsquo s main revenue contributor, accounting for 80.0% of total revenue.
IE Division &ndash Selected growth areas gaining momentum
&bull 76.22% of revenue contribution from the Group&rsquo s asset integrity services and solutions, under Asian Sealand Offshore Marine, are recurring in nature.
&bull Revenue from deck equipment supply dipped by 27.8%, or S$0.93 million, from S$3.34 million in FY2024 to S$2.41 million in FY2025, mainly due to project phasing with growth visibility underpinned by secured contracts of approximately S$14.2 million of new deck equipment contracts in FY2025 following a re-orientation of market focus towards India and Southeast Asia.
&bull The Group continues to pursue new tenders and strengthen its deck equipment branding, IOE, across key offshore and marine hubs in the region.
&bull Secured S$7.8 million of new shipbuilding contracts, aligned with the Group&rsquo s engineering capabilities and strategy to revive and scale this segment. CP Division &ndash Revenue is largely recurring in nature
&bull Revenue declined slightly by 4.0% or S$0.81 million to S$19.63 million (FY2024: S$20.44 million).
&bull Singapore operations were supported by ongoing FPSO module works and offshore wind farm projects, which generally command higher margins.
&bull Revenue from Batam declined due to several key customer projects reaching their tail-end stages in 1Q2025 and the absence of sizeable replacement projects during the year.
Profitability & Margins
&bull Gross profit margin improved by 2.5 percentage points to 37.1% (FY2024: 34.6%), driven by:
o Cost minimisation initiatives
o Productivity improvements
o Asset-light operating model under the BKM 2.0 strategy
&bull Gross profit declined at a slower pace of 6.0% to S$36.41 million (FY2024: S$38.73 million), despite the 12.3% revenue decline, underscoring business model resilience. Cash Flow, Costs & Deleveraging
&bull Generated S$26.55 million in net cash flow from operating activities in FY2025, supported by strong cash conversion and disciplined working capital management.
&bull Administrative expenses remained well controlled, decreasing marginally by 1.4% to S$20.71 million (FY2024: S$21.00 million), reflecting selective investment in talent.
&bull Variable management remuneration was lowered and aligned with the Group&rsquo s FY2025 operating and financial performance.
&bull Finance costs declined by 35.8% or S$0.34 million to S$0.61 million (FY2024: S$0.95 million), reflecting continued deleveraging and disciplined cash management.
Other Income &ndash Absence of one-off gain
&bull Decreased to S$1.36 million (FY2024: S$8.61 million), mainly due to:
o Absence of the FY2024 one-off gain of S$5.51 million from the partial disposal of Batam shipyard property
o Forex loss of S$0.91 million in FY2025
o Fair value loss of S$0.17 million in FY2025
Maintains Profitability
&bull Net profit for FY2025 amounted to S$12.53 million (FY2024: S$21.19 million).
&bull Net profit attributable to equity holders was S$5.33 million (FY2024: S$11.54 million, which included one-off gain recognised in FY2024).
&bull EBITDA stood at S$20.63 million (FY2024: S$29.25 million).
Balance Sheet &ndash Continues to strengthen
&bull Total assets increased to S$79.78 million, comprising:
o Current assets of S$63.86 million, including
▪ Cash and cash equivalents: S$37.38 million
▪ Trade and other receivables: S$15.51 million
▪ Contract assets: S$9.17 million
o Non-current assets of S$15.92 million,
▪ Mainly property, plant and equipment of S$15.72 million
&bull Total equity increased to S$36.14 million, representing net asset value per share of 12.64 SG
cents (FY2024: 10.54 SG cents).
&bull Total liabilities amounted to S$43.63 million, comprising:
o Current liabilities of S$35.81 million
o Non-current liabilities of S$7.82 million
Beng Kuang Group Maintains Profitability Amid Revenue and Forex Headwinds in FY2025 Proposes 0.6 SG Cents Dividend
&bull The resilience inherent to the Group&rsquo s asset-light, service-oriented business model enabled gross
profit margin to be sustained with profitability despite lower revenue performance (which was mainly due to timing delays of offshore asset integrity projects within the IE division).
&bull Strong cash generation with operating cash flow of S$26.55 million in FY2025, supported by strong cash conversion and disciplined working capital management.
&bull Total equity increased 26.9% to S$36.14 million with cash and cash equivalents increasing significantly to S$37.38 million with full redemption of its corporate bonds as at 31 December 2025, strengthening the Group&rsquo s financial flexibility.
&bull Proposed cash dividend of 0.6 SG cents per ordinary share represents a dividend payout of 23.5% of the net profit attributable to shareholders in FY2025.
Together with a multi-pronged strategy under BKM 2.0, the Group continues to actively target
selected high-growth segments of the global energy market to shape a more resilient and higher-
value enterprise.
&bull The resilience inherent to the Group&rsquo s asset-light, service-oriented business model enabled gross
profit margin to be sustained with profitability despite lower revenue performance (which was mainly due to timing delays of offshore asset integrity projects within the IE division).
&bull Strong cash generation with operating cash flow of S$26.55 million in FY2025, supported by strong cash conversion and disciplined working capital management.
&bull Total equity increased 26.9% to S$36.14 million with cash and cash equivalents increasing significantly to S$37.38 million with full redemption of its corporate bonds as at 31 December 2025, strengthening the Group&rsquo s financial flexibility.
&bull Proposed cash dividend of 0.6 SG cents per ordinary share represents a dividend payout of 23.5% of the net profit attributable to shareholders in FY2025.
Together with a multi-pronged strategy under BKM 2.0, the Group continues to actively target
selected high-growth segments of the global energy market to shape a more resilient and higher-
value enterprise.
Beng Kuang Marine allots 5,700 new shares following warrant exercise
Beng Kuang Marine has allotted and issued 5,700 new ordinary shares following the exercise of warrants, at an exercise price of 22 cents per share. This increases the company&rsquo s total issued shares to 208.99 million.
As at the date of this announcement, 58 million warrants remain outstanding, each with an exercise price of 22 cents and expiring on Sept 3, 2027.
Since 12 March 2025, Beng Kuang Marine has allotted and issued approximately 1.75 million shares upon the exercise of warrants.
Shares in Beng Kuang closed flat at 28.5 cents on Feb 2.
Beng Kuang Marine has allotted and issued 5,700 new ordinary shares following the exercise of warrants, at an exercise price of 22 cents per share. This increases the company&rsquo s total issued shares to 208.99 million.
As at the date of this announcement, 58 million warrants remain outstanding, each with an exercise price of 22 cents and expiring on Sept 3, 2027.
Since 12 March 2025, Beng Kuang Marine has allotted and issued approximately 1.75 million shares upon the exercise of warrants.
Shares in Beng Kuang closed flat at 28.5 cents on Feb 2.
Chart is ugly like what and you still ask people to ignore the chart.
Do you think traders are silly do not know how to see chart?
The volume has diminished and many are cutting loss.
25 is the last support.
If America come back with AI crash, this will surely break 25.
There is only one exit door and stampede will be ugly.
Do you think traders are silly do not know how to see chart?
The volume has diminished and many are cutting loss.
25 is the last support.
If America come back with AI crash, this will surely break 25.
There is only one exit door and stampede will be ugly.
For_The_Next_Leg ( Date: 24-Nov-2025 11:05) Posted:
|
ignore the chart, but this is a great summary of the business moving forward.
https://www.minichart.com.sg/2025/11/06/beng-kuang-marine-3q2025-9m2025-results-asset-light-turnaround-financial-highlights-and-bkm-2-0-growth-strategy/
fully valued..
kye_lin ( Date: 10-Nov-2025 11:37) Posted:
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Continued to boost revenue with new projects.
https://sg.finance.yahoo.com/news/beng-kuang-marine-awarded-projects-041848361.html?guccounter=1& guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8& guce_referrer_sig=AQAAAEB7IKIo0f9Ozb86o4nCLBdwHwcQE-hP6MCZSWGdl4b1_s4EQb4FttQXoSZtqmJ587iuUDMXnv-c2jHbicD8j8soXVFE5Emk-6bknHz2VH5AzFjvTwb1Vt4OraeQU9a2RSss2RXAV2wnz60uRgYlihcjfQvrLu99ii23DBi8ts0F
https://sg.finance.yahoo.com/news/beng-kuang-marine-awarded-projects-041848361.html?guccounter=1& guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8& guce_referrer_sig=AQAAAEB7IKIo0f9Ozb86o4nCLBdwHwcQE-hP6MCZSWGdl4b1_s4EQb4FttQXoSZtqmJ587iuUDMXnv-c2jHbicD8j8soXVFE5Emk-6bknHz2VH5AzFjvTwb1Vt4OraeQU9a2RSss2RXAV2wnz60uRgYlihcjfQvrLu99ii23DBi8ts0F
Maybank
https://poems.us7.list-manage.com/track/click?u=06440d923699a9e60b49e6649& %20id=facd2a8752& %20e=eaa7d91ee4
https://poems.us7.list-manage.com/track/click?u=06440d923699a9e60b49e6649& %20id=facd2a8752& %20e=eaa7d91ee4
from which house ? do you have the report?
ozone2002 ( Date: 10-Nov-2025 11:14) Posted:
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Beng Kuang Marine (BKM SP) (Maintain HOLD with a higher TP of SGD0.30) - Better 2H25 ahead
BKM&rsquo s 3Q25 revenue is down 2.9% YoY to SGD25.99m but PBT is up 19.3% YoY to SGD4.5m mainly due to lower finance costs and an increase of gross margin from 35.4% to 36%. Management continues to be optimistic on the outlook with an orderbook of SGD14.3m for its deck equipment business and SGD7.8m for its shipbuilding business. A potential separate listing of ASOM is possible. We maintain our earnings forecasts. However, our TP is raised to SGD0.30 (+36%), based on a higher 12.5x FY26E P/E (9x previously) due to a rerating of SMIDs in Singapore and a potential spinoff boosting valuations, if successful.
Game over Ah Kuang
I have already warned
One exit door but many want to go.
The newly exercised 600k warrants with cost 22 cent even selling now still making profits but can the players support all the warrants holders conversion of 59mil warrants selling or not?
Market will flood with mother shares by 2027.
Results is dwindling and business is cyclical.
Falling knife will be fast
Trade with caution
I have already warned
One exit door but many want to go.
The newly exercised 600k warrants with cost 22 cent even selling now still making profits but can the players support all the warrants holders conversion of 59mil warrants selling or not?
Market will flood with mother shares by 2027.
Results is dwindling and business is cyclical.
Falling knife will be fast
Trade with caution
Beng Kuang Awarded New Projects with an Aggregate Contract Value of S$15.9 Million
&bull Under its Infrastructure Engineering Division, the Group has been awarded new projects of deck equipment and shipbuilding with an aggregate contract value of approximately S$8.1 million and S$7.8 million respectively
&bull The new contracts has significantly boosted the Group&rsquo s aggregated contract value awarded of approximately S$22.1 million to date
&bull Barring unforeseen circumstances, these new contracts provide revenue visibility ahead and are expected to contribute positively to the Group&rsquo s financial performance throughout the duration of the contracts
Commenting on the new projects awarded, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said: &ldquo The steady pace of new order wins validates our team' s strategic efforts to revitalise and expand our deck equipment and shipbuilding business activities.
The growing traction of these complementary business segments reinforces the Group&rsquo s ability to harness value beyond our core operations, strengthening our market positioning and business resiliency.&rdquo
Beng Kuang Marine: 3Q2025 Profit before Tax Up 19.3%
- Revenue from the Group&rsquo s IE business division continue to deliver resilient revenue performance of more than S$20.0 million per quarter in 2025, which was primarily driven by the continual demand for ASOM&rsquo s repair and maintenance services.
- The Group&rsquo s deck equipment business, under IE business division, also contributed positively in 3Q2025, driven by progress on the five-unit 30-ton Knuckle
Boom Cranes contract valued at US$4.94 million.
- Finance costs continued to trend downward in 3Q2025, reflecting the Group&rsquo s deliberate deleveraging strategy and disciplined cash flow management.
- Extending our track record of profitability since our turnaround in FY2023
Commenting on the 9M2025 results, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said:
&ldquo Our business has demonstrated strong resilience, underpinned by steady demand and disciplined execution across our core operations.
The fundamentals of our existing business activities remain robust, supported by strong operating cashflows and stable industry outlook.
At the same time, we are encouraged by the progress from the revival of deck equipment business as well as newly launched specialised industrial chemical cleaning. We also see promising opportunities in shipbuilding activities that align with our engineering capabilities which we are looking to revive and scale-up.
The positive traction of these emerging businesses reaffirms the Group&rsquo s &ldquo Value Led Transformation&rdquo and &ldquo Talent Acquisition&rdquo under the BKM 2.0 strategy which will include creating values, enhancing our readiness to capitalise on future market opportunities and strengthening financial metrics, especially, improving our asset efficiency rate.
Moving forward, we will continue to leverage our operational strengths, expand our capabilities and deepen collaboration across our business segments to deliver sustainable value for our stakeholders.&rdquo
Disappointing 9M results.
Hopefully contract wins can be the saving grace.
Hopefully contract wins can be the saving grace.
| spursfan ( Date: 06-Nov-2025 19:52) Posted: |
https://links.sgx.com/1.0.0/corporate-announcements/O2J5NQDKVLDVJLN1/866216_BKM%20-%20Corporate%20Highlights.pdf
https://links.sgx.com/1.0.0/corporate-announcements/BN0W21D9FQOF0L2Y/866211_BKM%20-%20Press%20Release.pdf
https://links.sgx.com/1.0.0/corporate-announcements/BN0W21D9FQOF0L2Y/866211_BKM%20-%20Press%20Release.pdf