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Beng Kuang Marine (SGX:BEZ)’s wholly-owned subsidiary, Asian Sealand Offshore and Marine (ASOM), has secured two new purchase orders with an aggregate contract value of approximately US$28.6m (~S$36.7m) for FPSO life extension projects on two FPSOs operating in West Africa. The contracts, valued at approximately US$13.2m and US$15.4m respectively, are expected to be executed over the next 12 months.
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In addition, successful execution of these initial tank service works could position ASOM favourably for subsequent phases of the FPSO life extension programmes, providing potential opportunities for additional contract awards over the coming years.
Contracts secured continue to strengthen 2026-27 earnings visibility.
- - Read this at SGinvestors.io -
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The latest awards further validate management's expectations of additional West Africa FPSO-related opportunities and reinforce ASOM's role as the group's key earnings engine under the BKM 2.0 strategy. The group's revenue base remains increasingly anchored by ASOM's recurring offshore maintenance activities, complemented by NEI's fabrication projects and IOE's equipment business, providing a more diversified and durable earnings profile.
Strong business momentum expected in 2Q26.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Tang Kai Jie UOB Kay Hian Research | Heidi Mo UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-06-17
Previous report by UOB:
2026-05-08 Beng Kuang Marine 1Q26 - More Positive On Bullish Outlook; Raise Target Price By 17%.
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
