Beng Kuang Marine: Key Updates on Contract Progress & Order Book (1H Ended 30 June 2026)
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ASOM secured approximately S$85.2 million of new contracts and purchase orders in 1H2026 (S$27.6 million in 1Q2026 and S$57.6 million in 2Q2026).
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In 2Q2026, ASOM won two new life extension purchase orders with an aggregate value of US$28.6 million for tank services relating to FPSO life extension program of two FPSOs operating in West Africa.
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Collectively, ASOM, NEI and IOE carried a robust ~S$70.7 million of work remaining for delivery as at 30 June 2026. (ASOM ~S$52.3 million; NEI ~S$7.3 million; IOE ~S$11.1million).
“The first half saw ASOM convert a meaningful portion of its West Africa lifecycle mandates into formal purchase orders, including two tank-services frameworks supporting multiple maintenance cycles. Together with the project order books at NEI and IOE, the three businesses carried approximately S$70.7 million of contracted work remaining at 30 June 2026. We remain focused on disciplined execution and the continued conversion of opportunities across our offshore lifecycle and engineering businesses.”