Showing posts from June, 2023

TUB Assert - Beng Kuang Marine Turnover is Almost Complete!

Vested. I have previously written about Beng Kuang Marine (BKM) on two occasions. Following my February 2023 article , I stated that the industry outlook would be favorable for BKM. Subsequently BKM's share price rose from $0.049 to $0.072, a gain of 46%. BKM Share Price. Source: Yahoo Finance I also wrote a series of tweets on my Twitter account (follow me!) about oil prices, which I believe will remain at least flat until December 2024. This will further benefit BKM's business as more FPSOs will be brought to them for maintenance. However, after the article, the full year results were released and showed significant losses from operations. Equity fell from $18 million to $4 million. The current ratio was less than 1. BKM FY2022 Income Statement BKM FY2022 Balance Sheet But if we focus on the positives, net cash from operations was actually positive. Liabilities reduced, especially borrowings. And revenue increased. BKM FY2022 Cashflow Statement On April 12, 2023, BKM sold