- Proposed share placement of 37.2 million new ordinary shares at an issue price of S$0.09 per share, raising gross proceeds of approximately S$3.35 million.
- Issued a notice of redemption to the holders of the bonds (with a coupon rate of 9% per annum) in principal amount of S$4 million due 26 April 2022.
Milestones
1990
Started as sole proprietorship by Mr Chua Beng Kuang
1994
Privatisation of the company “Beng Kuang Marine Pte Ltd”.
1998
Entered into partnership with Labroy Marine Ltd.
2004
Listed on Singapore Stock Exchange.
2007
- Acquired a 30yr leasehold land, approx 32.8 hectare (with 460m waterfront) in Batam, Indonesia.
- Transferred to Mainboard.
2010
Ventured into the Shipping business.
2011
Secured largest single contract worth US$21.0 million and US$31.25 million to construct 2 Semi-submersible barges.
2013
Expanded our services to include metalizing services.
2015
- On-site offshore repairs & maintenance services via ASOM.
- Supply cranes & deck equipment.
2016
TOP – A&A HQ Office & Yard at Shipyard Road.
2021
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- Appointment of new CEO Yong Jiunn Run.
- Turnaround Plan and Strategic Review in progress.
- Completed share placement of 27 million new ordinary shares at $0.05 per share.
2022
- Re-focus on new opportunities with our core activities of Infrastructure Engineering and Corrosion Prevention to create more recurring income streams and enhance the Group’s business sustainability.
- Streamlining the Group’s capex-heavy business activities.
2023
- With an asset-light and service-oriented business model that is anchored by its two core business divisions, IE and CP, the Group continue to perform resiliently within the marine and offshore energy market.
- Announced partial land sales and asset disposals with an aggregate consideration of approximately S$22.5 million in cash as part of its monetisation and deleveraging initiatives.
- Financial turnaround with profitability achieved.