The analysts note that Kim Heng has experienced a sharp increase in its FY2023 revenue, improving by 26.7 y-o-y to $101.2 million following the retrofitting and upgrading of vessels from the marine offshore support services.
SAC Capital analysts June Yap and Matthias Chan highlight Kim Heng (SGX:5G2
) ’s strong earnings and recent wins in its June 13 unrated report.
Kim Heng is an established player in providing engineering, procurement, construction, and installation support for the offshore renewable, marine, and oil and gas industries. It has over 50 years of experience, operating primarily in Singapore with two shipyards and is currently serving customers in 25 countries.
