Beng Kuang Marine revenue rises 9.7% to $55.7m in H1

This was underpinned by higher engineering and shipbuilding activities.

Beng Kuang Marine’s revenue increased 9.7% to $55.7m in the first half of 2026, supported by higher engineering and shipbuilding activity.

Its Infrastructure Engineering division accounted for approximately 85% of group revenue during the period.

However, the group’s gross profit margin declined to 26.2% from 38.2% due to the timing and mix of projects being executed.

A larger share of revenue came from shipbuilding, engineering and deck-equipment projects in their earlier stages, whilst higher-margin offshore lifecycle work began later than expected following the mobilisation of supporting accommodation assets in June.

Consequently, the Infrastructure Engineering division recorded lower segment profit of $7.73m.

The Corrosion Prevention division posted lower revenue of $8.37m due to completed projects and uneven work volumes across its operating locations.

Its segment profit nevertheless increased to $1.89m, partly supported by gains from the disposal of a Batam land parcel and selected property, plant and equipment.

Beng Kuang secured approximately $85.2m in new contracts and purchase orders during the first half, exceeding the revenue recognised over the period.

The new work, spanning offshore lifecycle services, shipbuilding, engineering and deck equipment, represented an order intake-to-revenue ratio of approximately 1.5 times.

Outstanding contracted work stood at $70.7m as of 30 June 2026, of which $52.3m was related to Asian Sealand Offshore & Marine’s offshore lifecycle activities.

Beng Kuang completed its acquisition of ASOM on 29 May, meaning that the first-half results included only about one month of full ownership. The business will contribute a full six months of financial performance in the second half.

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