Singapore-based Beng Kuang Marine has announced that its wholly-owned subsidiary, Asian Sealand Offshore and Marine, secured a purchase order valued at approximately SG$7.4 million ($5.8 million) for works on a floating production storage and offloading (FPSO) vessel in the Angola offshore basin.
Scheduled for completion by December 31, the contract represents the group’s third project award in the region for the current financial year and marks a repeat engagement from an existing customer.
According to the company, the scope of works comprises the supply and mobilisation of offshore personnel for tank works during the campaign, covering supervision, rigging, scaffolding, fitting, welding, tank repairs, and rope access.
The total order value includes estimated mobilisation and demobilisation costs, with certain components to be invoiced based on actual costs incurred.
Commenting on the development, Chief Executive Officer Yong Jiunn Run remarked, “This is repeat work on a FPSO asset where we already operate, which is how our business model is calibrated to perform.”
“With one quarter left in FY2026, one of our key tasks is execution — converting the order book we have secured into revenue and cash,” he added.
The company stated that the award is expected to contribute positively to group revenue and earnings for FY2026.
However, it noted that the contract is not expected to have a material impact on the group’s net tangible assets per share for the financial year.