Nam Cheong


Nam Cheong clinches 3 charter contracts worth $18 mil

SINGAPORE (Dec 10): Offshore Support Vessel (OSV) provider Nam Cheong has inked three chartering contracts worth a total of RM 54.8 million ($17.9 million) including options to extend, the company announced Tuesday.

Nam Cheong CEO sells 13.9 mil shares; Miyoshi’s second-largest shareholder pares stake

(Sept 30): This past week has seen some notable share disposals. On Sept 23, Leong Seng Keat, CEO of Malaysia-based oil and gas shipbuilder Nam Cheong, sold 13.9 million shares at 0.6 cent apiece on the open market. This reduced his direct interest to 0.0

Global Economy

Markets shrug off exit of UK’s May in June; Hong Leong Asia to privatise cement unit

(June 3): June 7 will mark the end of Theresa May’s tenure as British Prime Minister, after a three-year leadership fraught with bad mistakes, resignations, controversy and widely panned policies. Her time as PM will be defined by her inability to deliv


Nam Cheong wins up to $43 mil in chartering contracts

SINGAPORE (May 29):  Nam Cheong, the Malaysia-based builder of OSVs (offshore support vessels), says subsidiary SKOSV Sdn Bhd has clinched long-term chartering contracts for three OSVs worth RM80 million ($26.4 million) with Malaysian oil majors.


Nam Cheong swings back to profitability for FY18 after debt restructuring

SINGAPORE (Feb 27): Nam Cheong announced earnings of RM9.7 million for the 4Q ended Dec 2018, reversing from its loss of RM987.5 million in 4Q17 mainly a result of a waiver of debts.

Nam Cheong says worst is now over with expected O&M recovery and restructuring initiatives

SINGAPORE (Sept 11): Malaysia-based offshore support vessel (OSV) builder Nam Cheong expects to implement its sanctioned schemes of arrangement by this year, which would signal the “crossing of a key obstacle” in its ongoing restructuring exercise to

Nam Cheong launches rights issue to raise up to $29 mil to fund cash-out option for creditors

SINGAPORE (Sept 3): Nam Cheong, the Malaysia-based builder of OSVs (offshore support vessel) is launching a rights issue to fund a cash-out option.


Nam Cheong swings back to profitability in 1H18 post debt restructuring, resumes trading today

SINGAPORE (Aug 23): Nam Cheong swung back to profitability in 1H18 with earnings of RM0.6 million ($0.2 million) compared to its RM2.1 billion loss in 1H17 after restructuring a substantial amount of trade debts with its creditors, resulting in a waiver o


Nam Cheong sinks into the red in 3Q on forex loss and finance costs

SINGAPORE (Nov 14): Nam Cheong, the debt-saddled Malaysian shipbuilder and vessel charterer, sunk into 3Q losses of RM48.6 million ($15.8 million) as the result of the foreign exchange loss and finance costs, compared to earnings of RM0.76 million a year

Nam Cheong applies for scheme of arrangement with High Court

SINGAPORE (Oct 10): Nam Cheong last Friday filed an application with Singapore's High Court to restructure its debts under a scheme of arrangement.