Nam Cheong Limited
SSGX:1MZ0.79
SGD
-0.04
(-5.39%)
Nam Cheong Limited
SGX:1MZ
(Singapore Exchange)
Recent
price
0.79
P/E
ratio
3.71
div
yld
- -
ROIC.AI
Capital Structure
MYR
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in mil. unless spec.Working Capital
MYR
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Nam Cheong Limited is an investment holding company specializing in the building, chartering, and delivery of offshore support vessels (OSVs) for the oil and gas exploration and production, oilfield services, offshore renewables, and marine environmental sectors. The company offers a range of OSVs including anchor handling tug supply (AHTS) vessels ranging from 5,000 to 12,000 bhp with 60 to 150 tonnes bollard pull; platform supply vessels (PSVs) up to 80 metres long with up to 4,000 DWT capacity and dynamic positioning systems; accommodation work barges (AWBs) housing 150 to 500 personnel; maintenance work vessels (MWVs) up to 78 metres with DP2 and capacity for 200 people; safety standby vessels (SSVs); landing craft (LCs); and fast crew boats (FCBs); alongside vessel chartering, ship delivery, and trading activities. Nam Cheong Limited serves oil majors, oilfield service providers, ship owners, and marine operators, with a fleet of 37 vessels averaging eight years old. It operates shipbuilding through its 12.6-hectare yard in Miri, Sarawak, Malaysia, and outsources to yards in the People's Republic of China, while chartering via subsidiaries SKOSV Sdn Bhd and SKOM Sdn Bhd. The company conducts business across Malaysia, Singapore, Indonesia, Vietnam, the People's Republic of China, the Netherlands, India, Tunisia, the Middle East, the United States, West Africa, Latin America, and Japan. Founded in 1968 through its principal subsidiary Nam Cheong Dockyard Sdn Bhd and listed on the Singapore Exchange Mainboard in 2011 via reverse takeover, Nam Cheong Limited is headquartered at 9 Raffles Place, Singapore, with its registered office in Hamilton, Bermuda, and key operations based in Sarawak, Malaysia. In recent developments, the company completed a comprehensive debt restructuring under the 2024 Scheme and Debt Restructuring Master Agreement effective March 30, 2024, reducing borrowings by 56% to RM458.4 million and total liabilities by 50%, alongside resuming SGX trading and achieving net profit of RM800.2 million for FY2024. It secured RM204.1 million in OSV charter contracts in June 2025 for an AHTS and two FCBs with Marine Operations for Environmental Services (SAIL), a Saudi Public Investment Fund subsidiary, in the Middle East for coastal protection, and a contractor in Japan for offshore wind operations, expanding into renewables and increasing long-term contracts to 24 vessels or 63% of fleet. Further, in November 2024, it won multi-year charters worth up to RM1.22 billion, enhancing revenue visibility toward a 70% long-term contract target.