You are invited to FY19 results briefing of NAM CHEONG

You are invited to a results briefing by Nam Cheong Ltd, one of Malaysia's largest Offshore Support Vessel (OSV) providers.  Details of the briefing:

Recent Developments:

♦ Nam Cheong signed an lease MOU with Labuan Corporation, expanding beyond shipbuilding and chartering business

Press Release here. 

♦ Nam Cheong inks charter contracts worth RM 54.8 million, expanding its growing chartering business

Press Release here. 

♦ Chartering revenue for 3Q2019 surged 88.0% to RM91.7 million on the back of fleet expansion

♦ Gross profit, grew to RM29.0 million for 3Q2019, up 13% from RM25.6 million for 1H2018 –with gross profit margin at 31.6%

Press Release here. 

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About Nam Cheong Limited 

CEO Leong Seng Keat.
NextInsight file photoHeadquartered in Kuala Lumpur, Malaysia, Nam Cheong Limited ("Nam Cheong" or the "Group") is a global offshore marine group specialising in the building and chartering of OSVs. Since its humble beginnings in 1968 building only fishing vessels, the Group is now Malaysia's largest OSV builder, owning and operating one of the largest shipbuilding yards for OSVs in Malaysia. 

The Group focuses on OSV chartering, as well as the construction and engineering of sophisticated, environmentally friendly and quality OSVs that are equipped with the latest technology for use in the offshore oil and gas exploration and production ("E&P") and oil services industries, with customers hailing from Malaysia, Southeast Asia, Middle East, West Africa, Latin America, Europe, and the United States. The Group has delivered over 140 vessels since 2007, which include anchor handling towing supply ("AHTS") vessels, platform supply vessels ("PSVs"), accommodation work boats and accommodation work barges. 

Beyond building some of the most sophisticated OSVs, Nam Cheong is expanding its vessel chartering operations, which has grown to make up 41% of FY2018's revenue base. The Group has a chartering fleet of over 30 vessels and was successfully listed on SGX-ST on May 27, 2011.