Beng Kuang Marine takes on new associate for S$102,000

BENG Kuang Marine has made an investment into a new associate company, the board said on Tuesday.

Its 51 per cent-owned subsidiary paid S$102,000 for a 26 per cent effective stake in Asian Sealand Equipment Solutions, which does general engineering design and consultancy, and rents out industrial equipment and machinery.

The investment in Asian Sealand Equipment Solutions was funded by internal resources and is not expected to have any material impact on the group's net tangible assets or earnings per share for the year to Dec 31, said the board.