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think can sht?? since so meaty...tmr open may try..dydd
TraderBen ( Date: 04-Apr-2024 09:08) Posted:
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everyone chasing lol
TraderBen ( Date: 01-Apr-2024 14:57) Posted:
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yes.. time to play catchup.. buy!
Laggard O& G play. Time to catch up with the other marine plays
still got chance if u missed the mermaid BK, seatrium boat..
No bbs playing what news also won?t move it, wait a few weeks more when o&m play comes in
Kim Heng subsidiary signs MOU for offshore wind farm projects
Kim Heng 5G2 0.00% has announced that its wholly-owned subsidiary, Kim Heng Marine and Oilfield (KHMO), has entered into a non-binding memorandum of understanding (MOU) with specialist subcontractor Mansam in relation to offshore wind farm projects and other offshore projects.
According to Kim Heng, Mansam has proven expertise in the subsea pipelines trenching, cables trenching, subsea and offshore cables installation, flexible and umbilical installation, nearshore pipelines installation and pipelines pre-commissioning services.
The MOU will remain in force unless terminated by either party by providing three months&rsquo notice to the other party.
Kim Heng reports FY2023 earnings of $1.6 million, 79% lower y-o-y
Kim Heng has reported earnings of $1.6 million for its FY2023 ended Dec 31, 2023, 79% down y-o-y from FY2022&rsquo s $7.4 million.
This translates to an earnings per share (EPS) of 0.2 cents, 80% lower than FY2022&rsquo s EPS of 1.0 cent.
Meanwhile, although revenue increased by 28% y-o-y to $102.0 million in FY2023 from $79.8 million in FY2022, cost of sales in FY2023 increased by 33% to $69.1 million from $52.1 million in FY2022.
Kim Heng&rsquo s gross profit margin also decreased from 34.7% in FY2022 to 32.3% in FY2023, mainly due to lower profits from its equipment rental segment.
Following the company&rsquo s results, a final dividend of 0.21 cents per ordinary share on a one-tier tax-exempt basis for the FY2023 has been recommended for shareholders&rsquo approval at its 2024 annual general meeting, which is to be convened.
Moving forward, the company remains on-track to extend its strategic footprint into renewables offshore market, especially in Asia. Demands for vessels chartering and horizontal directional drilling works are expected to remain strong. Addtionally, the company understands the need to remain agile and respond to any shifts given the geopolitical and economic uncertainties ahead.
Jia lat.. poor results. But managed to stay in black
forgotten gem likely will run with the other O& M counters
TraderBen ( Date: 08-Jan-2024 14:41) Posted:
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forgetten Kim Heng.. likely will follow beng kuang and chiong soon. BOARDED..
DYODD
DYODD
Kim Heng: Police investigating alleged misappropriation - unit&rsquo s GM sacked
THE police are investigating a case of suspected misappropriation and suspicious purchases at a subsidiary of Kim Heng, a Catalist-listed offshore and marine services provider.
The company flagged the case to the police on Thursday (Dec 21), after discovering that certain transactions at the unit &ndash Zale Offshore &ndash might have been inflated or entered into with a conflict of interest, with certain fixed assets misappropriated.
The amount connected to the case is presently estimated at S$160,000, which is about 1.8 per cent of the group&rsquo s audited net profit after tax for the financial year ended Dec 31, 2022, the company said in a bourse filing.
A majority of the aggregate amount pertains to that financial year, the company said.
The group incorporated Zale Offshore in August 2020 to undertake marine salvage and commercial diving activities.
Anomalies were first discovered in October while conducting an internal routine audit on its fixed assets.
Internal investigations later connected the sums to Zale Offshore&rsquo s general manager (GM). The man, who was appointed GM in September 2020, was thus sacked last month.
The company said that the investigations found reasonable grounds to believe that he had deceived or sought to deceive the group. Such conduct constituted &ldquo gross misconduct&rdquo , the company said.
The management is also of the opinion that certain conflict-of-interest transactions entered into, as well as unaccounted fixed assets under his care, constituted gross misconduct.
With the case now handed over to the police, the company said it will offer full cooperation to the relevant authorities as and when needed to aid in their investigations. The case is not expected to materially impact the audited consolidated financial statements of the group for the financial year ending Dec 31, 2023, the company said.
Keep in your watchlist you never know when. Even mermaid has overtaken KH.
There is totally not much trade pass months for this counter
dyodd
dyodd
Recap on this announcement on 15 Aug:
Dyna-Mac Partners with Kim Heng to Capitalise on Opportunities in FPSO Module Fabrication Sector ? Memorandum of understanding (?MOU?) provides Dyna-Mac with options to execute projects in Kim Heng?s shipyards ? Opportunity for Kim Heng to participate in larger, more complex floating production storage and offloading (?FPSO?) module fabrication projects ? Win-Win collaboration gives Dyna-Mac and Kim Heng greater flexibility to address spikes in FPSO module fabrication demand
I believe Kim Heng will be a beneficiary and pls DYODD.
Dyna-Mac Partners with Kim Heng to Capitalise on Opportunities in FPSO Module Fabrication Sector ? Memorandum of understanding (?MOU?) provides Dyna-Mac with options to execute projects in Kim Heng?s shipyards ? Opportunity for Kim Heng to participate in larger, more complex floating production storage and offloading (?FPSO?) module fabrication projects ? Win-Win collaboration gives Dyna-Mac and Kim Heng greater flexibility to address spikes in FPSO module fabrication demand
I believe Kim Heng will be a beneficiary and pls DYODD.
Kim Heng awarded shipbuilding contract worth TWD249.5 million, scheduled to commence in 4Q2023
Kim Heng&rsquo s subsidiary, Kim Heng 5G2 0.00% Shipbuilding & Engineering (KHSE), has been awarded a shipbuilding contract of about TWD249.5 million ($10.6 million) by TIPC Marine Corporation, according to an announcement dated Oct 16.
TIPM is a subsidiary of state-owned company Taiwan International Ports Corporation (&ldquo TIPC&rdquo ), operates and manages a fleet of marine assets.
Under the contract, KHSE will provide design, engineering and newbuild of a self-propelled split hopper barge. The contract is scheduled to commence in the fourth quarter of 2023, and is expected to be completed by the first quarter of 2025.
Thomas Tan, CEO & chairman says: &ldquo Kim Heng&rsquo s proven track record in newbuilds and vessel modifications, successful delivery of vessels to Taiwanese customers as well as the completion of Horizontal Directional Projects in the Offshore Windfarm has enabled the group to make inroads in Taiwan to secure more newbuild projects and charter contracts in support of the renewable marine construction.&rdquo
buy kim heng, it will fire up soon!
owner confident of own business and can earn interests.. why not? win win situtation
LowLow12 ( Date: 19-Sep-2023 10:49) Posted:
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Own company if don?t lend then who will lend
Bank don?t lend ? That?s why boss ownself lend ?
Chor
7 mil dollars
Wonder why don?t borrow from banks
Unless bank reject
Bank don?t lend ? That?s why boss ownself lend ?
Chor
7 mil dollars
Wonder why don?t borrow from banks
Unless bank reject
Kim Heng&rsquo s executive chairman & CEO Thomas Tan lends the company $7 mil
Kim Heng 5G2 0.00% has entered into a loan agreement with its executive chairman & CEO, Thomas Tan, where Tan will provide the company with a loan facility of $7 million.
Tan is also the company&rsquo s controlling shareholder with a 40.28% stake comprising direct and deemed interests.
The interest rate of the loan facility is at 8.5% per annum. Under the facility, the company may submit one or more drawdown notices to Tan on any business day before Sept 30. Any amount drawn from the facility will have to be repaid within two years from the disbursement date.
According to Kim Heng, it intends to use the loan for &ldquo funding suitable business opportunities and working capital needs of the [company]&rdquo .
The loan constitutes as an interested person transaction (IPT) under Singapore Exchange&rsquo s (SGX) listing rules as Tan is a director, CEO and controlling shareholder of the company.
Based on the listing rules, the value of the IPT is based on the interest payable on the borrowing. This means that the company&rsquo s IPT would amount to $636,000 assuming that the entire sum has been borrowed, or less than 1% of the company&rsquo s latest audited net tangible assets (NTA). As at Dec 31, 2022, Kim Heng&rsquo s NTA stood at $63.6 million.