Nam Cheong bags four and sets record sales


Singapore: Nam Cheong Limited today announced that it has sold four AHTS vessels worth a total of US$45.13 million, bringing the total number of vessels sold this year to 18, a record high for the group.
Three of the vessels have been sold to two repeat customers, one based in Norway and the other Singapore. The remaining vessel was sold to an Indonesian marine operator and is expected to be deployed in Indonesia.
Leong Seng Keat, Nam Cheong’s Executive Director, said: “With the sale of these four AHTS vessels, this year has seen the most number of vessels sold in a single year, setting a new record for our Group’s corporate history.”
Nam Cheong today reported a 31% jump in net profit to RM87.3 million for the nine months ended September 30, 2012. Leong cited robust industry momentum sweeping the South American region as a key driver for new business opportunities. [12/11/12]

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