Kim Heng has more than 50 years of experience in the O&M sector and operates across multiple segments, including marine offshore support services, vessel chartering and towage, vessel trading, sale of goods, equipment rental and shipbuilding and repair.
While the offshore and marine (O&M) sector is on an uptrend in general, with companies benefitting from diversifying their product and service offerings, Catalist-board Kim Heng’s journey to profitability has not been smooth sailing.
For FY2025 ended Dec 31, 2025, Kim Heng reported a net loss of $9.6 million, reversing the $2.5 million net profit in FY2024. Revenue decreased y-o-y by approximately 1% from $122.7 million to $121 million. The company attributed the weaker performance to late-delivery penalties and cost overruns on a new shipbuilding vessel, and to lower-than-anticipated revenue from the newly established geotechnical survey segment, which remains in its growth phase.
