Nam Cheong continues to focus on cost reductionCompany News // August 16, 2016
Nam Cheong Limited has reported that it registered revenue of RM117.4 million for the three months ended 30 June 30 2016 (2Q 2016) as compared to RM192.7 million in the previous corresponding period (2Q 2015).
Tan Sri Datuk Tiong Su Kouk, Executive Chairman of Nam Cheong, said: "While oil prices have rebounded from the lows since the beginning of the year, the offshore and marine industry continues to be under pressure. This has
invariably affected the flow of OSV orders. We continue to be prudent by tightening our cost management, and are glad to note that our shipbuilding segment’s gross profit margin has improved during the second quarter.”