Beng Kuang Marine has been awarded new projects with a total contract value of $15.9 million, boosting aggregate contract value awarded to $22.1 million to date.
The group was awarded new projects of deck equipment and shipbuilding with contract values of $8.1 million and $7.8 million respectively.
Together with contracts worth $6.2 million for the supply of five units of 30-ton Knuckle Boom Cranes, the group’s aggregated contract value has reached $22.1 million to date.
“The steady pace of new orders validates our team's strategic efforts to revitalise and expand our deck equipment and shipbuilding business activities,” says Yong Jiunn Run, CEO of Beng Kuang Group.
The new contracts are expected to have a positive impact on the net tangible asset per share and earnings per share of the group for the current financial year ending Dec 31. They also provide revenue visibility ahead, says the group.
Shares in Beng Kuang Marine closed 1 cent higher or 0.806% up at $1.25 on Nov 6.
