Beng Kuang Group - Heritage

With an asset-light and service-oriented business model that is anchored by its two core business divisions, IE and CP, the Group continue to perform resiliently within the marine and offshore energy market.
Announced partial land sales and asset disposals with an aggregate consideration of approximately S$22.5 million in cash as part of its monetisation and deleveraging initiatives.
Financial turnaround with profitability achieved.

Re-focus on new opportunities with our core activities of Infrastructure Engineering and Corrosion Prevention to create more recurring income streams and enhance the Group’s business sustainability.
Streamlining the Group’s capex-heavy business activities.

Chua Beng Yong appointed as Executive Director on 10 May 2021 and re-designation to Executive Chairman on 03 January 2022.
Appointment of new CEO Yong Jiunn Run on 02 June 2021.
Turnaround Plan and Strategic Review in progress.
Completed share placement of 27 million new ordinary shares at $0.05 per share.
Proposed share placement of 37.2 million new ordinary shares at an issue price of S$0.09 per share, raising gross proceeds of approximately S$3.35 million.
Issued a notice of redemption to the holders of the bonds (with a coupon rate of 9% per annum) in principal amount of S$4 million due 26 April 2022.