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BH Global Corporation Limited

BQN.SI
50
Industrial - Distribution · Industrials
Price
S$0.09
+0.01 (+14.47%)
Market Cap
S$26.1M
Exchange
Stock Exchange of Singapore
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 26, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Strong
Stability
Exceptional
Valuation
Good
Dividends
Good

Winston Score History

The full picture

BH Global Corporation Limited, an investment holding firm based in Singapore, delivers a broad spectrum of technical and electrical solutions to clients both domestically and internationally. Established in 1963, this subsidiary of Beng Hui Holding (S) Pte Ltd adopted its current name in May 2013, having previously operated as BH Global Marine Limited. The company's operations are divided into distinct segments: Electrical and Technical Supply, Green LED Lighting, Security, and Integration Engineering. Within its Electrical and Technical Supply segment, BH Global is involved in trading marine cables, lighting equipment, fixtures, and accessories. It also undertakes the electrification of marine propulsion systems and conducts wholesale and retail of electrical goods, servicing the marine sector. Its Green LED Lighting division focuses on providing energy-efficient illumination technologies. The Security segment offers comprehensive cybersecurity services, encompassing critical information infrastructure protection, manual and robotic vulnerability assessment and penetration testing, alongside cyber security advisory and professional services. This segment also deploys infrared thermal sensing technology, marine surveillance systems, thermal scanners for mass fever screening, and night vision technologies. The Integration Engineering segment covers a wide array of specialized services, including marine pipe installation, and the procurement and construction management for electrical, instrumentation, and telecommunications systems in both onshore and offshore environments. This division provides end-to-end engineering, procurement, integration, project management, and piping solutions. Additionally, it offers software consultancy, IT electronics products and solutions, and supplies medical, professional, engineering, scientific, and precision equipment. The company also engages in the manufacturing and repair of machinery, engineering and scientific instruments, and marine equipment, as well as the repair and modification of ships and offshore structures. Further capabilities include engineering design and consultancy for energy management and clean energy systems, various marine and offshore-related services, and energy storage systems.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 300.0M (2021) → 300.0M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
39.8%
Modest — 39.8% gross margin
Profit after running costs
Operating Margin
5.1%
Thin — 5.1% operating margin
Return on the money invested
ROCE
0.9%
Weak — 0.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-7.4%
Shrinking sales (-7.4% YoY)
Profit growth
EPS YoY
+44.8%
Earnings growing fast (+44.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
189%
Turns 189% of profit into real cash
Spare cash per sale
FCF Margin
8.5%
Modest free cash flow (8.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.18
Conservative — low debt load (0.18)
Covers its interest
Interest Cover
100.00x
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
10.4x
Attractive valuation — P/E 10.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
5.75%
Healthy income — 5.75% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-63.3%
Dividend cut (-63.3% YoY) — warning sign

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