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    Nam Cheong awarded LoI by Bumi Armada

    Yard News // June 21, 2012

    Nam Cheong Limited, the SGX Main Board-listed Malaysian OSV builder, has announced that its wholly-owned subsidiary, Nam Cheong Dockyard Sdn Bhd, has been awarded a Letter of Intent (LOIh) from Bumi Armada for four multipurpose PSVs (MPSVs), with an option to build four additional units.

    The contract is one of the largest awarded to Nam Cheong.

    Leong Seng Keat, Nam CheongĀ's Executive Director, said: "We are delighted to be awarded an LOI for a significant order, which is a major corporate milestone for us.

    "In the first six months of this year, the contract value of our orderbook is expected to soar to RM874 million, surpassing last year's RM638 million."

     

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