Beng Kuang Marine Q1 net profit slips 12.7% to $2.8m
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Beng Kuang Marine reported a 12.7% decline in Q1 net profit to $2.8 million, despite a 7.7% increase in revenue to $25.7 million, driven by higher FPSO work. Profit before tax fell 28.1% YoY to $3.0 million, while gross profit dropped 21.5% to $6.8 million. The company's order book stands at $55.9 million, with significant contributions from FPSO lifecycle services and shipbuilding. Shareholders will vote on acquiring the remaining stake in ASOM at a meeting in May 2026, aiming to consolidate FPSO operations.
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