Beng Kuang Marine Limited (“BKM”), was recently featured by UOB Kay Hian (“UOBKH”), which has a BUY recommendation and target price of S$0.75 on the Group.

In its latest update, UOBKH highlighted BKM’s newly secured S$7.4 million purchase order through its wholly-owned subsidiary, Asian Sealand Offshore and Marine Pte. Ltd. (“ASOM”), for works on an FPSO vessel in the Angola offshore basin.

Scheduled for completion by 31 December 2026, the project encompasses the supply and mobilisation of offshore personnel for tank works, including supervision, rigging, scaffolding, fitting, welding, tank repairs and rope access.

Importantly, UOBKH noted that the contract represents a repeat engagement from an existing customer and marks BKM’s third project award in the Angola offshore basin in FY2026, highlighting continued demand for ASOM’s offshore services.

The latest award is expected to contribute positively to BKM’s FY2026 revenue and earnings, as management remains focused on converting its secured order book into revenue and cash.

The latest contract further reinforces BKM’s growing presence in offshore asset lifecycle services and its ability to secure recurring work from existing customers.