The way he sees it, Yon believes Beng Kuang’s first quarter performance is a reflection of healthy operational activity, suggesting that the y-o-y profit decline is likely due to spillover delays from 4QFY2026 and he does not expect further delays moving forward.
Nicholas Yon of Lim and Tan Securities has reinforced his “buy” call on Beng Kuang Marine by raising his valuation of the counter to 69 cents per share in his May 8 report. In his previous initiation report on March 31, Yon valued Beng Kuang at 53.5 cents per share.
His confidence comes on the back of Beng Kuang’s results for 1QFY2026 ended March 31 being “in line” with expectations. For the period, Beng Kuang reported $2.8 million in net profit, representing a 12.7% y-o-y decrease but 9% q-o-q increase. Meanwhile, revenue rose y-o-y by 20.3% to $25.7 million.
