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Nam Cheong bags $43.8m in new orders

Nam Cheong bags $43.8m in new orders
Kuala Lumpur: Nam Cheong continues to do well with its build-to-stock model, securing another three contract wins worth $43.8m for one Platform Supply Vessel (PSV) and  two  Anchor Handling Towing Supply (AHTS) vessels.

The two AHTSs are going to established customers from Norway and the Middle East while the PSV deal is a breakthrough contract for Nam Cheong for a new customer, who is an emerging offshore marine services and construction company based in West Africa.

These latest contract wins bring Nam Cheong’s order book to MYR912m in total contract value, and is expected to contribute positively to the Group’s earnings for the financial years ending 2012 and 2013, the company said in a stock market announcement.