Beng Kuang Marine Ltd. (SG:BEZ) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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%.
For further insights into SG:BEZ stock, check out TipRanks’ Stock Analysis page.