Beng Kuang Marine Ltd. (BEZ) AI Stock Analysis

• Market Cap: S$69.64M
• Dividend Yield: N/A
• Average Volume (3M): 1.82M
• Price to Earnings (P/E): 11.4
• Beta (1Y): 1.58
• Revenue Growth: -4.17%
• EPS Growth: -54.26%
• Country: SG
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.01
• Shares Outstanding: 207,887,970
• 10 Day Avg. Volume: 940,000
• 30 Day Avg. Volume: 1,821,280
• PEG Ratio: 0.02
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 0.40
• P/FCF Ratio: 3.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$0.22
• Price Target Upside: -29.03% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: S$0.50 ▲(61.29% Upside)

Beng Kuang Marine Ltd. has a solid financial foundation with strong operational efficiency and improved leverage, which is the most significant factor in its score. However, technical analysis indicates potential bearish momentum, and the valuation is fair but not particularly attractive. The absence of earnings call data and notable corporate events limits the overall assessment.

Beng Kuang Marine Ltd. Business Overview & Revenue Model

Company Description

Beng Kuang Marine Limited, an investment holding company, provides infrastructure engineering and corrosion prevention services in Singapore, Asia, Europe, the Middle East, and internationally. It operates through Infrastructure Engineering, Corrosion Prevention, Corporate Services, and Others segments. The company offers shipbuilding and conversion, offshore construction, turnkey projects, sandwich plate system license, offshore asset integrity management, project management, and supply of deck equipment; and researches and develops waste management services; as well as rental of industrial equipment and machinery. It also provides abrasive and non-abrasive blasting, paint application, shop blasting and painting, thermal spray coating, and personal protective equipment; and provides blasting, welding, and painting equipment and accessories, and other hardware products. In addition, the company provides freight transport and metallizing services; and builds and repairs ships, tankers, and other ocean-going vessels, as well as provision of internal tank coating services. Further, the company engages in the supply and distribution of hardware equipment, tools, and other products; provision of industrial and marine automation work; sourcing and procurement of material and equipment in engineering and construction; metalising; and design, manufacture, and fabricate offshore equipment and ship parts business. Beng Kuang Marine Limited was incorporated in 1994 and is based in Singapore.

How the Company Makes Money

Beng Kuang Marine Ltd. generates revenue through multiple streams, primarily from its shipbuilding and repair services, which involve constructing new vessels and performing maintenance and upgrades on existing ones. The company also earns income from the sale of marine equipment and spare parts, catering to both local and international markets. Additionally, BEZ may engage in long-term contracts with shipping companies and offshore service providers, which provide a steady revenue flow. Strategic partnerships with key players in the marine and offshore sectors further enhance its business opportunities and operational efficiency, contributing positively to its financial performance.

Beng Kuang Marine Ltd. Financial Statement Overview

Summary

Beng Kuang Marine Ltd. demonstrates solid financial performance with strong operational efficiency and improved leverage. Despite declining revenue and net profit margins, the company maintains robust EBIT and EBITDA margins. The balance sheet reflects a healthy capital structure with reduced debt levels, and the cash flow statement indicates effective cash management.

Income Statement

Beng Kuang Marine Ltd. has shown a mixed performance in its income statement. The company has a healthy gross profit margin of 35.91% in TTM, indicating efficient cost management. However, the net profit margin has decreased to 5.75% in TTM from 10.31% in the previous year, reflecting reduced profitability. The revenue growth rate is negative at -4.26% in TTM, indicating a decline in sales. Despite this, the EBIT and EBITDA margins remain strong at 16.79% and 18.57% respectively, showcasing operational efficiency.

Balance Sheet

The balance sheet of Beng Kuang Marine Ltd. shows a stable financial position with a debt-to-equity ratio of 0.34 in TTM, which is a significant improvement from previous years, indicating reduced leverage. The return on equity is strong at 26.43% in TTM, reflecting effective use of equity to generate profits. The equity ratio stands at 30.18%, suggesting a balanced capital structure with adequate equity financing.

Cash Flow

The cash flow statement reveals a positive trend with a free cash flow growth rate of 6.30% in TTM, indicating improved cash generation. The operating cash flow to net income ratio is 0.49, suggesting that the company is generating sufficient cash from operations relative to its net income. The free cash flow to net income ratio is 0.83, highlighting strong cash flow management and the ability to cover net income with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	102.75M	111.88M	79.16M	59.13M	51.31M	42.67M
Gross Profit	36.89M	38.73M	24.91M	12.52M	11.90M	-1.58M
EBITDA	19.08M	29.25M	15.84M	2.80M	8.86M	-6.53M
Net Income	5.90M	11.54M	3.42M	-21.83M	-13.23M	-15.40M
Balance Sheet
Total Assets	78.46M	74.11M	63.00M	57.39M	79.43M	93.41M
Cash, Cash Equivalents and Short-Term Investments	25.63M	22.92M	12.19M	6.71M	7.04M	4.88M
Total Debt	8.03M	8.24M	14.14M	22.19M	25.25M	29.79M
Total Liabilities	45.38M	45.64M	51.15M	52.41M	60.59M	61.21M
Stockholders Equity	23.69M	20.99M	9.54M	6.14M	27.86M	36.75M
Cash Flow
Free Cash Flow	15.55M	12.35M	4.61M	6.91M	2.57M	4.23M
Operating Cash Flow	18.80M	13.47M	5.53M	7.39M	3.89M	6.20M
Investing Cash Flow	-4.80M	6.03M	12.13M	-179.04K	-1.10M	-837.18K
Financing Cash Flow	-7.23M	-8.27M	-11.81M	-7.40M	301.83K	-5.75M

Beng Kuang Marine Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.31
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BEZ, the sentiment is Neutral. The current price of 0.31 is below the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.34, and above the 200-day MA of 0.24, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.40 is Neutral, neither overbought nor oversold. The STOCH value of 7.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:BEZ.

Beng Kuang Marine Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5UL	―	S$49.21M	1.03	5.32%	259.91%	-86.29%	20.88%
A04	―	S$216.10M	14.19	―	―	―	―
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
BEZ	―	S$69.64M	11.36	28.37%	―	-4.17%	-54.26%
1V3	―	S$34.71M	13.81	11.84%	―	30.68%	―

Beng Kuang Marine Ltd. Corporate Events

Beng Kuang Marine Expands Share Capital Through Warrant Exercise

Beng Kuang Marine Ltd. has announced the issuance of 556,000 new ordinary shares following the exercise of warrants at an exercise price of S$0.22 per share, increasing the total number of issued shares to 207,887,973. This move is expected to enhance the company’s capital structure and could potentially impact its market positioning by providing additional financial resources for future growth and operations.

Beng Kuang Marine Ltd. Discontinues Cattle Line Business

Beng Kuang Marine Ltd. has announced the discontinuation of its Cattle Line business segment, following a court decision to discharge the liquidators and dissolve Cattle Line Two Pte. Ltd. This move marks a significant shift in the company’s operational focus, potentially impacting its market positioning and stakeholder interests as it moves away from this business line.

Beng Kuang Marine Ltd. Restructures to Enhance Engineering Services

Beng Kuang Marine Ltd. has announced an internal restructuring and rebranding exercise aimed at unifying and streamlining its service offerings across its infrastructure engineering segment. This restructuring involves rebranding MTM Engineering Pte. Ltd. as the core platform for delivering EPC solutions, particularly in module fabrication for FPSO vessels. Additionally, the company has entered into a Shareholder’s Agreement to offer specialist industrial chemical cleaning services, enhancing its service portfolio under the infrastructure engineering segment. These strategic moves are expected to strengthen the company’s operational efficiency and market positioning.

Beng Kuang Marine Expands Share Base with New Issuance

Beng Kuang Marine Ltd. has announced the issuance and allotment of 39,000 new ordinary shares following the exercise of warrants at an exercise price of S$0.22 per share. This move increases the total number of issued shares to 207,331,973 and reflects the company’s ongoing efforts to strengthen its capital base. The new shares will be listed on the Singapore Exchange, and there remain 59,668,610 outstanding warrants with the same exercise price, set to expire in September 2027.