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    Nam Cheong reports significant increase in profit

    Company News // November 14, 2012

    Nam Cheong Limited, the SGX Main Board-listed leading offshore marine company and Malaysia's largest offshore support vessel builder, has reported a 31 per cent jump in net profit to RM87.3 million for the nine months ended September 30th, 2012 from RM66.8 million in the same period last year.

    The company said the increased was on the back of 7 per cent revenue growth from RM466.7 million in 9M 2011 to RM497.4 million in 9M 2012.

    Since March this year, the group has maintained a strong order momentum,
    announcing a series of new contract wins totaling 18 vessels to date, comprising
    nine AHTS, seven PSVs, and two accommodation work barges.

    As of November 12th 2012, the group's orderbook had surpassed the one-billion mark, with a total contract value of RM1.3 billion, comprising 20 vessels scheduled for delivery stretching into 2015.

     

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