“With non-discretionary demand driven by safety, regulatory compliance, and asset longevity, BKM enjoys resilient margins and strong pricing power, supported by global industry demand where corrosion costs the maritime sector US$50-80 billion annually,” states both Tang and Mo.
UOB KayHian analysts Tang Kai Jie and Heidi Mo have initiated coverage on Beng Kuang Marine (BKM) with a “buy” call and target price of 64 cents.
In their initiation report on April 20, both analysts point out that BKM is a leader in provision of corrosion prevention, repair and life extension services, a high-barrier segment within offshore asset integrity services, operating across Southeast Asia, the Middle East, and Latin America.
