Singapore’s maritime sector sees stronger earnings and business sentiment
Beng Kuang Marine posted a ROE of 34.1 per cent as stronger engineering and shipbuilding activity lifted H1 2026 net profit by 20.8 per cent year-on-year. The group secured S$85.2 million in new contracts in the first half ended June with S$70.7 million in outstanding contracted work.
In August, UOB Kay Hian maintained its “buy” recommendation and expects re-rating to continue due to the full consolidation of Asian Sealand Offshore and Marine, which would provide a significant earnings uplift in H2 2026, alongside strength in its underlying business and market leadership.
ASL Marine more than doubled full-year net profit to S$33.3 million, driven by stronger chartering performance and lower finance costs. Its shipbuilding and chartering order books stood at approximately S$18 million and S$61 million respectively.