Beng Kuang Marine Limited has entered into a Shareholders’ Agreement with Epsilon Navigation Pte. Ltd. to establish a 50:50 joint venture via Offshore Collective Pte. Ltd. (SPV).

The joint venture will own and operate a ballast barge currently under construction by the Group’s Infrastructure Engineering division. Both parties will inject capital into the SPV, which will be accounted for as a joint venture.

As part of this arrangement:

• Approximately S$2.8 million of the Group’s S$15.8 million shipbuilding order book (as at 31 March 2026) relates to the ballast barge.
• This portion will now be classified as a related party transaction, arising purely from the revised ownership structure, with no change to underlying commercial terms.

The Company expects the transaction to have a positive impact on earnings per share (EPS) and net tangible assets (NTA) per share for FY2026, barring unforeseen circumstances.

The transaction does not constitute an Interested Person Transaction under Chapter 9 of the SGX-ST Listing Rules, and no directors or controlling shareholders have any interest in the joint venture.

https://links.sgx.com/FileOpen/BKM-JVA%20SHA.ashx?App=Announcement&FileID=884981