Nam Cheong awarded LoI by Bumi ArmadaYard 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 Cheong'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."