Showing posts from August, 2023

TUB Assert - Beng Kuang Marine's Financial Resurgence

Still Vested I have previously covered Beng Kuang Marine in several articles, and I'm excited to share the latest update on their financials. On August 11, 2023, the company released its six-month financial report, highlighting two crucial points: (1) Remarkably, the company has achieved a turnaround and generated a profit without relying on gains from shipyard sales. This outcome exceeded my expectations. The thriving FPSO and FSO market during the period of high oil prices, surpassing $100 per barrel, undoubtedly contributed to this success. Source: HY2023 Financials As quoted from the press release, "The Group’s IE continues to be its core revenue generator with revenue growth of 7.5% in 1H2023, with its 51%-owned subsidiary, Asian Sealand Offshore and Marine Pte Ltd (“ASOM”), being the main revenue contributor of IE’s 1H2023 sales as a result of increased business volume from higher demand for FPSO and FSO contracting services...ASOM has diversified its geographical sco

TUB Assert: Recession Fears Are Overblown

It's been quite some time since my last article, but I'm excited to share that I've been working on a new collaboration which is currently in progress. I appreciate your patience, and I promise that the details will be revealed in due time. In recent discussions with colleagues, the topic of recession has resurfaced. It can be challenging to express contrarian ideas, especially when working in the finance sector, as it's not always easy for people to believe alternative viewpoints. However, I firmly believe that we won't experience a recession on a global scale, similar to the one we faced in 2008/2009. I say this because I've personally experienced the depths of that economic downturn. I've dedicated a significant amount of my writing to explain why I hold this perspective, and I want to take this opportunity to remind everyone of my opinions on why a recession is unlikely: We are prepared: The fact that everyone is talking about a potential recession ind