Revenue for chartering and towage surged 172% y-o-y to $29.4 million and represented 47% of Kim Heng’s total revenue.
Despite Kim Heng’s net loss of $5.9 million for the FY2021 ended December, SAC Capital analyst Lim Shu Rong remains positive on the integrated offshore and marine value chain services provider’s prospects.
During the FY2021, Kim Heng saw revenue improve 68% y-o-y to $63.2 million as all segments – except equipment rental – registered growth. During the year, the chartering and towage segment were the largest revenue contributor.
