Beng Kuang Marine Ltd. (SG:BEZ) has released an update.
Beng Kuang Marine Limited has reported significant growth in its Infrastructure Engineering division, with revenues rising from $38.8 million to $57.0 million, driven by expansion in the marine and offshore energy sectors, particularly in FPSO and FSO services. The company has also diversified its Corrosion Prevention segment, venturing into the sales, leasing, and rental of equipment across Southeast Asia. Moreover, they have achieved a reduction in net debt from $18.2 million in 2021 to just $2.0 million in 2023, with a net gearing ratio of 16%.
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