SINGAPORE (Yosefardi) – Shipping company Beng Kuang Marine Limited posted revenues of $23.5 million in 2014 for Indonesia operation, declined 17.8% from $27.9 million in 2013.
While Singapore contributed revenues of $42 million, a 8.7% lower compared to $45.9 million in 2013. While other contributed revenues of $10.1 million ($10.02 million in 2013).
Beng Kuang operates 6 sets of tugs and barges in Indonesia.
In December 2014, Beng Kuang’s subsidiary, PT. Nexus Engineering Indonesia, engages in infrastructure engineering, successfully obtained HGB land title for its 32.8 hectare waterfront leasehold yard in Kabil, Batam which will provide an avenue to seek term financing to solve the Group’s net current liability position. Currently, the yard is unencumbered.
Bengkuan also holds corrosion prevention unit, PT Nexelite CP Indonesia and PT Berger Batam. It owns supply & distribution unit, PT Master Indonesia and shipping unit, PT Marina Shipping.
The Group operates in South East Asia with dominant operations in Singapore, Indonesia and Malaysia.