Professional
Added to YB: 2025-11-06
Pitch date: 2025-10-25
BEZ.SI [neutral]
Beng Kuang Marine Limited
-16.18%
current return
Author Info
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Company Info
Beng Kuang Marine Limited, an investment holding company, provides infrastructure engineering and corrosion prevention services in Singapore, Asia, Europe, the Middle East, and internationally.
Market Cap
SGD 60.5M
Pitch Price
SGD 0.34
Price Target
N/A
Dividend
2.07%
EV/EBITDA
2.57
P/E
9.83
EV/Sales
0.51
Sector
Commercial Services and Supplies
Category
turnaround
Fairlight Alpha Fund Portfolio Holding: Beng Kuang Marine Limited
BEZ.SI (holding update): Singapore marine engineering firm transformed from debt-laden shipyard to asset-light services biz under new CEO since 2021. Debt cut from S$40M to S$8M, now net cash S$15M. Shifted focus to high-margin FPSO maintenance (30%+ gross margins vs mid-teens). Rev doubled since 2020, FCF S$13.6M exceeds S$11.5M net income. Trades mid-single digit P/E despite structural shift. 12x P/E implies S$153M value vs S$71M market cap.
Read full article (2 min)