Added to YB: 2026-04-13
Pitch date: 2026-04-09
BEZ.SI [neutral]
Beng Kuang Marine Limited
+3.49%
current return
Author Info
No bio for this author
Company Info
Beng Kuang Marine Limited, an investment holding company, provides infrastructure engineering and corrosion prevention services relating to repairing of ships, tankers, and other ocean-going vessels in Singapore, Asia, Europe, the Middle East, Africa, and internationally.
Market Cap
SGD 99.8M
Pitch Price
SGD 0.43
Price Target
N/A
Dividend
1.36%
EV/EBITDA
4.27
P/E
16.92
EV/Sales
0.84
Sector
Commercial Services and Supplies
Category
turnaround
Beng Kuang - The Power of Strategic Transition
BEZ.SI (paid preview): Singaporean FPSO repair & maintenance provider. CEO pivoted from leveraged shipbuilding to net cash, high-margin recurring services. Acquiring remaining 49% of ASOM for S$60M at 8x P/E, 84% EPS accretion. Serves 19 of 335 aging FPSOs/FSOs globally (6% share). 70%+ fleet >10yrs old drives opex-based demand; ABS/DNV mandate 2-5yr inspections. Trades 7.4x FCF, 11.4x P/E on depressed FY25 earnings from temporary West Africa logistics delays (now resolved). Gross margin expanded from 12% (FY21) to 37% (FY25). Petrobras, ExxonMobil relationships position for Brazil/Guyana growth.
Read full article (5 min)