Beng Kuang Marine - Maybank Research 2025-02-25: Building Stronger Foundations

• Beng Kuang Marine’s revenue surged 41.3% y-o-y to S$111.9m while PATMI jumped 237% to S$11.5m, driven by strong demand for its integrity solutions and services for FSPOs (Floating production storage and offloading) and FSOs (Floating storage and offloading) and a one-off S$5.5m gain from the partial land sale.
• - Read this at SGinvestors.io -

Driven by strong ASOM growth.

• Infrastructure Engineering (IE) revenue rose 60.3% y-o-y to S$91.4m from S$57m a year ago, representing 81.7% of its total revenue, driven by strong demand for asset-integrity solutions and services for FPSOs and FSOs.
• - Read this at SGinvestors.io -

S$0.6 cents dividend declared.

• Beng Kuang Marine announced a S$0.6 cents/share dividend to reward shareholders. This is below what we expected but nevertheless a positive one. See Beng Kuang Marine's dividends payout dates.
• We believe management wants to conserve cash for potential M&As to grow into other related business.

Maintain BUY with a lower target price of S$0.26.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-05-09 Beng Kuang Marine - Sector Headwinds; Downgrade To HOLD..

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 Dividend Payout Dates & Corporate Actions,
Beng Kuang Marine News