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Nam Cheong 3Q surges strongly ahead

Vincent Chia
Falcon Energy makes General Offer for CH Offshore

Nam Cheong Limited announced its 3Q results. 9M revenue was up 65% year-on-year to RM 1.40billion while 9M PATMI was up 93% year-on-year to RM 260.7million. 3Q revenue was up 81% year-on-year to RM 618.6million while 3Q PATMI was up 115% year-on-year to RM 126.3million. The results were attributed to Nam Cheong’s record order of 25 vessels for this year. The total value of the 25 vessels is US$ 505million. In particular, there were 16 order wins this quarter compared to 7 in the same quarter last year. Nam Cheong also added one new vessel to its chartering fleet this quarter. Going forward, Nam Cheong continues to see growing demand for its vessels.

GET TO THE POINT : Good companies that are executing good strategies should do well despite global circumstances. Nam Cheong is one such example.

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