- We initiate coverage on Beng Kuang Marine (SGX:BEZ) with a BUY pegged to an 9x FY24E P/E. With Beng Kuang Marine share price trading at just 4.5x FY24E P/E, it is substantially undervalued against local peers trading at 12.2x.
- - Read this at SGinvestors.io -
Beng Kuang Marine - Company background
- Beng Kuang Marine (SGX:BEZ) is a formidable presence in Southeast Asia's maritime domain, offering a comprehensive range of services. From onshore and offshore platform marine repairs to custom equipment production and complex engineering projects, Beng Kuang Marine delivers flexibility and cost efficiency. This breadth of offerings empowers clients with diverse options, consolidating Beng Kuang Marine's position as a premier choice in the marine sector.
Shipyard business
- - Read this at SGinvestors.io -
- Its 51%-owned subsidiary, Asian Sealand Offshore and Marine Pte Ltd (ASOM), specialises in asset integrity solutions, and is expanding globally. Meanwhile, International Offshore Equipment Pte Ltd (IOE) focuses on marine equipment design and supply, particularly pedestal cranes.
- Beng Kuang Marine’s ISO9001:2015 certification underscores its dedication to quality, earning accolades from industry peers and clients alike.
Shipbuilding, repair and conversions
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-07-08
Read also Maybank's most recent report:
2024-08-06 Beng Kuang Marine - 2H Likely To Be Stronger.
Price targets by other brokers at Beng Kuang Marine Target Prices.
Listing of research reports at Beng Kuang Marine Analyst Reports.
Relevant links:
Beng Kuang Marine Share Price History,
Beng Kuang Marine Announcements,
Beng Kuang Marine Dividends & Corporate Actions,
Beng Kuang Marine News Articles