Geo Energy Secures Term Sheet with ResInvest for a Substantial Investment in MBJ Integrated Infrastructure Business at a Valuation of US$1.5 Billion
• Resource Invest AG (“ResInvest”) signs term sheet to invest in the Group’s PT Marga Bara Jaya (“MBJ”), which is nearing completion of its Integrated Infrastructure project in South Sumatera and expected to commence operations thereafter.
• The US$1.5 billion valuation is attributed solely to MBJ, which is just one component of the Group’s broader asset portfolio, reflects the fact that Geo Energy’s share price remains largely undervalued despite crossing S$1 billion market capitalisation.
• MBJ’s Integrated Infrastructure comprises a 92km hauling road and jetty that have around 50 million tonnes of haulage per annum at full operational capacity, which is targeted to generate up to an additional US$300 million in EBITDA per annum for the Group within a few years’ time, reflecting its scale, cost efficiency and commercial potential.
• Resource Invest AG (“ResInvest”) signs term sheet to invest in the Group’s PT Marga Bara Jaya (“MBJ”), which is nearing completion of its Integrated Infrastructure project in South Sumatera and expected to commence operations thereafter.
• The US$1.5 billion valuation is attributed solely to MBJ, which is just one component of the Group’s broader asset portfolio, reflects the fact that Geo Energy’s share price remains largely undervalued despite crossing S$1 billion market capitalisation.
• MBJ’s Integrated Infrastructure comprises a 92km hauling road and jetty that have around 50 million tonnes of haulage per annum at full operational capacity, which is targeted to generate up to an additional US$300 million in EBITDA per annum for the Group within a few years’ time, reflecting its scale, cost efficiency and commercial potential.
Fuxing_BrandsUpdate_PR_11MAY_Final.pdf
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Fuxing Accelerates Direct-to-Brand Strategy with an Expanding Portfolio of International and Domestic Brand Owners
Mr Hong Shao Lin, Chief Executive Officer of Fuxing, said: “The increasing traction from our directto-brand sales strategy allows us to engage brand owners more closely and improve customer responsiveness, and harness higher value-added opportunities across their product lines.
As we deepen these relationships, we aim to strengthen order visibility with improved margin,
reinforcing the effectiveness of our direct-to-brand strategy.
Moving forward, we will continue to build on this momentum by enhancing our operational capabilities and expanding our reach across global brands as the 4th largest zipper manufacturer in the world.”
Mr Hong Shao Lin, Chief Executive Officer of Fuxing, said: “The increasing traction from our directto-brand sales strategy allows us to engage brand owners more closely and improve customer responsiveness, and harness higher value-added opportunities across their product lines.
As we deepen these relationships, we aim to strengthen order visibility with improved margin,
reinforcing the effectiveness of our direct-to-brand strategy.
Moving forward, we will continue to build on this momentum by enhancing our operational capabilities and expanding our reach across global brands as the 4th largest zipper manufacturer in the world.”
More recently, Beng Kuang Marine (BKM), has gained investor appreciation, with the stock up 75% year-to-date (from 32 cents to 57 cents).
UOB Kay Hian and Lim & Tan Research reiterated their "BUY" ratings, and even raised their target prices to S$0.75 and S$0.69 respectively.
A core driver of BKM's future revenue is its healthy order book and promising contract pipeline.
https://www.nextinsight.net/story-archive-mainmenu-60/949-2026/16703-1q-profit-down-13-analyst-raise-target-prices-for-this-stock-why#google_vignette
UOB Kay Hian and Lim & Tan Research reiterated their "BUY" ratings, and even raised their target prices to S$0.75 and S$0.69 respectively.
A core driver of BKM's future revenue is its healthy order book and promising contract pipeline.
https://www.nextinsight.net/story-archive-mainmenu-60/949-2026/16703-1q-profit-down-13-analyst-raise-target-prices-for-this-stock-why#google_vignette
www.nextinsight.net
1Q profit down 13%, analyst raise target prices for this stock. Why?
a hub for serious investors
GDS Announces EGM to Seek Approval from Shareholders for the Strategic Acquisition of Asiabuild Metal Engineering and Integrated Aluminium to Expand into Building Materials Solutions
• Immediate revenue contribution and profitability and additional revenue streams as the Targets are revenue-generating businesses with established histories, and have an audited combined net profit after tax of approximately S$1.6 million for the financial year ended 31 December 2025 and S$1.9 million for the financial year ended 31 December 2024.
• Both Targets, being part of the Teambuild Construction Group of Companies, have track records serving public housing, institutional, commercial and industrial developments, with capabilities spanning structural steel fabrication, aluminium
facade systems, cladding, curtain walls, and architectural metal works.
• Immediate revenue contribution and profitability and additional revenue streams as the Targets are revenue-generating businesses with established histories, and have an audited combined net profit after tax of approximately S$1.6 million for the financial year ended 31 December 2025 and S$1.9 million for the financial year ended 31 December 2024.
• Both Targets, being part of the Teambuild Construction Group of Companies, have track records serving public housing, institutional, commercial and industrial developments, with capabilities spanning structural steel fabrication, aluminium
facade systems, cladding, curtain walls, and architectural metal works.
GEO_1Q2026_MR.pdf
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Geo Energy Delivers Steady 1Q2026 Earnings Over the Previous Quarter, Declares Interim Dividend Payout of 34%; Positioned for Higher Earnings in a Landscape of Rising Coal Prices, Higher Coal Output, and the Startup of MBJ’s Operations in the Coming Quarters
KGI (GEO Energy) Valuation & Action.
We raise our target price to S$1.27 (from S$1.02), maintaining our OUTPERFORM rating on Geo Energy. We maintain a DCF framework with two refinements: MBJ is removed from the operating DCF and marked at the ResInvest deal value (US$1.5bn × Geo's pre-deal 71.3% effective interest) and marine logistics was added into the DCF at Geo's 51% economic interest.
We raise our target price to S$1.27 (from S$1.02), maintaining our OUTPERFORM rating on Geo Energy. We maintain a DCF framework with two refinements: MBJ is removed from the operating DCF and marked at the ResInvest deal value (US$1.5bn × Geo's pre-deal 71.3% effective interest) and marine logistics was added into the DCF at Geo's 51% economic interest.
Geo Energy: Two global giants have priced this stock but the Market hasn’t
https://sginvestorsedge.com/geo-energy-two-global-giants-have-priced-this-stock-but-the-market-hasnt/?fbclid=IwdGRjcAR4sT5jbGNrBHixO2V4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHkpN1wAN7piFxgn2Mqj5AGKCuPBwp3G9syqkU782cTzhMXZGZAkxF0QVOwrc_aem_RfNFJYITxF5qzBcYstK-hA
https://sginvestorsedge.com/geo-energy-two-global-giants-have-priced-this-stock-but-the-market-hasnt/?fbclid=IwdGRjcAR4sT5jbGNrBHixO2V4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHkpN1wAN7piFxgn2Mqj5AGKCuPBwp3G9syqkU782cTzhMXZGZAkxF0QVOwrc_aem_RfNFJYITxF5qzBcYstK-hA
Investors edge
Geo Energy: Two global giants have priced this stock but the Market hasn't - Investors edge
Trafigura does not do favours. One of the world’s largest commodity trading houses, moving metals, oil and coal across six continents with 14,500 people and more transactional firepower than most central banks, commits capital only when its own due diligence…
KGI_Raffles Education_9M26_20May2026.pdf
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KGI: We reiterate our OUTPERFORM rating on Raffles Education, with a 12-month fully diluted target price of S$0.32 previously S$0.34, implying 143.5% upside from current levels.
*ASL Marine (ASL SP/TP UNDER REVIEW)*
By Heidi Mo UOBKH
_9MFY26 Results First Take: Slightly Above Expectations_
*ASL's 9MFY26 net profit surged 176% yoy to S$25.4m,* forming 78% of our full-year forecasts and *slightly above our expectations*, driven by margin expansion and lower finance costs.
*Gross margin improved to 19% (+3ppt yoy),* led by stronger ship chartering margins (18%), while *finance costs declined by S$10m* on continued deleveraging.
*9MFY26 revenue was resilient at S$271m (+2% yoy),* with growth driven by ship chartering and repair, partially offset by lower shipbuilding revenue in line with the group's *strategic shift toward more recurring, service-led earnings*.
The stock currently trades at 10.6x FY27F PE. Will provide further update after the briefing tomorrow.
https://links.sgx.com/1.0.0/corporate-announcements/WQ65D2B16LI6I7A2/7c9327122a467fce1d25aee57c7e51188bad379c704ab72d1b744229b3828a6a
By Heidi Mo UOBKH
_9MFY26 Results First Take: Slightly Above Expectations_
*ASL's 9MFY26 net profit surged 176% yoy to S$25.4m,* forming 78% of our full-year forecasts and *slightly above our expectations*, driven by margin expansion and lower finance costs.
*Gross margin improved to 19% (+3ppt yoy),* led by stronger ship chartering margins (18%), while *finance costs declined by S$10m* on continued deleveraging.
*9MFY26 revenue was resilient at S$271m (+2% yoy),* with growth driven by ship chartering and repair, partially offset by lower shipbuilding revenue in line with the group's *strategic shift toward more recurring, service-led earnings*.
The stock currently trades at 10.6x FY27F PE. Will provide further update after the briefing tomorrow.
https://links.sgx.com/1.0.0/corporate-announcements/WQ65D2B16LI6I7A2/7c9327122a467fce1d25aee57c7e51188bad379c704ab72d1b744229b3828a6a
Sgx
ASL MARINE HOLDINGS LTD. : 21-May-2026
General Announcement::3Q FY2026 Press Release
*ASL MARINE*
- 9MFY26 Revenue and Profit forms c.73% and c.77% of our full year targets; NPAT on track to beat our forecasts in FY26
- Results driven by improved business and decreased costs as overall GPM +3p.p to 19% (Ship Repair GPM continues to trend >20%, Ship Chartering GPM improving to 18%), while finance costs declined $10mln
- Deleveraging effects are starting to show. FY27F results probably will see further improvements from deleveraging , lower holding/depre costs amidst better chartering rates and increased ship repair activity
- Maintain BUY recommendation on ASL Marine.
Regards
Nicholas Yon
LTS
- 9MFY26 Revenue and Profit forms c.73% and c.77% of our full year targets; NPAT on track to beat our forecasts in FY26
- Results driven by improved business and decreased costs as overall GPM +3p.p to 19% (Ship Repair GPM continues to trend >20%, Ship Chartering GPM improving to 18%), while finance costs declined $10mln
- Deleveraging effects are starting to show. FY27F results probably will see further improvements from deleveraging , lower holding/depre costs amidst better chartering rates and increased ship repair activity
- Maintain BUY recommendation on ASL Marine.
Regards
Nicholas Yon
LTS
*RAFFLES EDUCATION LIMITED (RLS SP / NR7.SI): Capital restructure delivered, turnaround on tract* 🎓📈
In this video, we discuss the investment case for *Raffles Education* and the key themes shaping its outlook.
*9M26 profitability improved sharply*, with *PAT surging 274% YoY to S$24.18mn* on asset monetisation. While *revenue declined 5% YoY to S$81.14mn*, *aggressive deleveraging reduced total borrowings by 59% YoY to S$84.99mn*, with standalone bank borrowings at zero.
*What should investors watch next?*
We break down how balance sheet repair, ASEAN K–12 expansion, and a lower corporate risk profile can support an operational turnaround.
*Watch the full video:*
➡️ https://www.kgieworld.sg/research/video-raffles-education-limited_WA
*Take your trading journey to the next level by subscribing:*
➡️ https://www.kgieworld.sg/research/kgi-subscribe_WA
In this video, we discuss the investment case for *Raffles Education* and the key themes shaping its outlook.
*9M26 profitability improved sharply*, with *PAT surging 274% YoY to S$24.18mn* on asset monetisation. While *revenue declined 5% YoY to S$81.14mn*, *aggressive deleveraging reduced total borrowings by 59% YoY to S$84.99mn*, with standalone bank borrowings at zero.
*What should investors watch next?*
We break down how balance sheet repair, ASEAN K–12 expansion, and a lower corporate risk profile can support an operational turnaround.
*Watch the full video:*
➡️ https://www.kgieworld.sg/research/video-raffles-education-limited_WA
*Take your trading journey to the next level by subscribing:*
➡️ https://www.kgieworld.sg/research/kgi-subscribe_WA
YouTube
RAFFLES EDUCATION LIMITED (RLS SP / NR7.SI): Capital restructure delivered, turnaround on tract 🎓📈
In this video, we discuss the investment case for Raffles Education and the key themes shaping its outlook.
9M26 PAT rose 274% YoY on asset monetisation, while total borrowings declined 59% YoY, materially strengthening the balance sheet.
What should investors…
9M26 PAT rose 274% YoY on asset monetisation, while total borrowings declined 59% YoY, materially strengthening the balance sheet.
What should investors…
TAP - Press Release - Char Yong_Dabu_Association_25 May 2026.pdf
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The Assembly Place Continues Portfolio Expansion; Unveils Singapore’s First AI-Powered Co-Living Development with Dedicated AI Lab
Forwarded from AT
Announcement_Statement_on_Indonesia_New_Plan_to_Centralise_Control.pdf
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Geo Energy: The Group’s fundamentals remain strong. Our current production, logistics, customer relationships, and export activities continue as normal. We continue to make steady progress on our MBJ Integrated Infrastructure, with successful truck trials completed last week and on track to commence operations in the second half of 2026. Coal prices remain strong, with ICI4 at US$64.43 per tonne as of 22 May 2026. The Group will continue to execute its growth strategy and operational plans in a disciplined manner while remaining agile and responsive to evolving regulatory and policy developments.