- Specialised industrial chemical cleaning is an essential process in the oil and gas industry to maintain the integrity and efficiency of the equipment and preventing failures, which can lead to costly downtime, safety hazards, and environmental damage

- Synergistic to the Group’s Infrastructure Engineering (“IE”) business division that provides asset integrity solutions within the oil & gas industry and it will allow the Group to target more opportunities in both onshore and offshore markets

- Separately, the Group has restructured and rebranded one of its subsidiaries as Asian Sealand Energy Services Pte Ltd, strategically positioning it as its core platform for
delivering turnkey onshore Engineering, Procurement and Construction ("EPC") solutions with a particular emphasis on module fabrication for FPSO vessels and marine engineering projects

Commenting on these strategic initiatives, Mr Yong Jiunn Run, Chief Executive Officer of Beng Kuang Group, said: “Our new business of specialised industrial chemical cleaning solutions underscores the Group’s commitment to identifying growth-oriented opportunities in the global oil & gas industry.

In addition, as we continue to expand our business presence within the industry, we recognise a growing need to unify and streamline our diverse range of service offerings across both the onshore and offshore markets, enabling customers to more easily identify and access our capabilities as a fully integrated solutions provider.

We believe that these strategic initiatives will not only enhances our market positioning, but also strengthens operational efficiency, fosters cross-segment synergies, and broadens the Group’s portfolio of service offerings in both onshore and offshore markets, and create long-term value for stakeholders.”

The company shuttered its ship chartering, hardware distribution and bottled water supply businesses, while focusing on infrastructure engineering and corrosion prevention.

As Yong told The Business Times last year: “We have been hard hit by the oil and gas downturn – at that time we were straddling two warehouses, vessels, a yard in Batam… when you are asset light, in a downturn you can walk away very quickly.”