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Beng Kuang Marine
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kt3152
Supreme |
15-Apr-2026 12:57
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Did you added or collected enough already?.....:)....
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JurongW
Elite |
15-Apr-2026 12:43
Yells: "Earnings give weight, Chart give wings" |
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I received a not useful ratiing for this post. Perhaps give a reason if u r still around.
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JurongW
Elite |
15-Apr-2026 12:36
Yells: "Earnings give weight, Chart give wings" |
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Sniping the lows is a skill, that is what separates a trader from an investor.
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kt3152
Supreme |
15-Apr-2026 12:29
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Added 435 this morning. Seller KGI...going new high today.... | ||||||||||||
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JurongW
Elite |
14-Apr-2026 16:23
Yells: "Earnings give weight, Chart give wings" |
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kt3152
Supreme |
14-Apr-2026 16:15
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Keep holding. Just trade it along...today T+4 good time to collect...not much selling though....like your chart and analysis.....
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JurongW
Elite |
14-Apr-2026 14:27
Yells: "Earnings give weight, Chart give wings" |
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U r a savvy trader, must have bought a lot for a tidy profit to exit so soon.
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kt3152
Supreme |
14-Apr-2026 11:01
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Sold some 445...buyer ML.... | ||||||||||||
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JurongW
Elite |
13-Apr-2026 11:33
Yells: "Earnings give weight, Chart give wings" |
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kt3152
Supreme |
13-Apr-2026 11:27
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Bought some 425... | ||||||||||||
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JurongW
Elite |
10-Apr-2026 14:05
Yells: "Earnings give weight, Chart give wings" |
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Share prie is still above the upper bounds of ascending channel. 
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JurongW
Elite |
09-Apr-2026 11:12
Yells: "Earnings give weight, Chart give wings" |
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As of 9 Apr, 11.10am - Upper bound of the channel acting as support for now.
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kt3152
Supreme |
09-Apr-2026 10:09
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Profit taking. Bought back some 43/435..... | ||||||||||||
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JurongW
Elite |
09-Apr-2026 00:11
Yells: "Earnings give weight, Chart give wings" |
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Finally broke out from the ascending channel today.
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JurongW
Elite |
08-Apr-2026 17:26
Yells: "Earnings give weight, Chart give wings" |
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Close at 44 (1.272 fibo). Can we see 45, 46.5 or even 49 by this week?
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JurongW
Elite |
08-Apr-2026 16:32
Yells: "Earnings give weight, Chart give wings" |
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Long bullish candlestick with strong volume. Can it continue its upward momentum Let' s watch on. 
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kt3152
Supreme |
08-Apr-2026 15:08
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41 cleared...Nice....
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kt3152
Supreme |
08-Apr-2026 10:22
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Can see 42 once 40 is cleared.... | ||||||||||||
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JurongW
Elite |
04-Apr-2026 15:09
Yells: "Earnings give weight, Chart give wings" |
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BKM ops trade at ~10× earnings, right on the marine sector average, with a 12.9¢ net cash anchor per share
Cash & cash equivalents: S$37.38m |
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| Metric | Value |
|---|---|
| Net cash per share | S$0.129 (12.9¢ ) |
| Headline P/E | ~15.0× |
| Adjusted P/E (ex‑ net cash) | ~10.0× |
| Sector average P/E | ~9&ndash 10× |
⚖ ️ Interpretation
- Each share is backed by ~12.9¢ of net cash.
- Stripping out this net cash, the operating business is valued at ~10× earnings &mdash right in line with the sector average.
- Headline P/E of 15× looks slightly rich, but the strong cash anchor makes the adjusted valuation fair.
Joelton ( Date: 04-Apr-2026 10:58) Posted:
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From Turnaround to Takeover: After 100% Stock Gain, BENG KUANG MARINE Anchors Its Future on a Buyout
BKM is set to deliver NPAT of $12.1mln and S$18.1mln in FY26F and FY27F respectively.
This valuation approach represents a small discount to its peers and also reflects the timing of earnings consolidation, as full contribution from ASOM will only be reflected from 2HFY26F onwards.
We have the following investment thesis:
1. FPSO servicing remains key in the O& G value chain, as ageing vessels must meet international standards to stay operational, amidst tight FPSO supply.
Middle East conflict is also a net positive in the medium term.
2. Post-acquisition, BKM will fully consolidate ASOM&rsquo s earnings, with valuations dropping from FY25 PE of 15.5x to 10.2x and 6.9x in FY26F and FY27F.
On a like for like FY25 EPS of c.2.6 cents would have risen to c.4.8 cents pro-forma (+c.84%yoy).
3. The acquisition is both earnings and valuation accretive.
We see no teething issues given BKM&rsquo s initial stake, while the structure of the transaction is sound and current ASOM mgmt. remains incentivised to continue delivering for BKM.
4. Investors can now better understand ASOM&rsquo s business, which was previously a black box. This added visibility could support a valuation re-rating as BKM is now essentially a recurring off shore service provider.
ASOM provides predictable, steady and recurring income backed by cash flows.
5. Continued value unlocking by CEO Yong, including growth in the Deck Equipment and Shipbuilding under the IE segment, which secured $14.2mln and $7.8mln of contracts in FY25.
6. BKM operates in structural infrastructure maintenance, not contracting, and thus benefits from rising energy security investments that drive marine compliance, inspection, and corrosion prevention.
7. BKM&rsquo s net cash position (32% of mkt cap) provides financial flexibility to pursue asset-backed marine investments through joint ventures, creating additional earnings streams beyond its core engineering services.