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Nam Cheong Limited ( (SG:1MZ) ) has shared an update.
Nam Cheong Limited has secured multi-year charter contracts valued at up to RM317.1 million for seven AHTS vessels, which will be deployed in Malaysia and Thailand waters. These contracts align with the company’s strategic goal of having 70% of its fleet under long-term contracts, enhancing income stability and allowing flexibility to benefit from dynamic market rates. With Sarawak’s growing importance in the oil and gas sector and increasing offshore activities, Nam Cheong is well-positioned to capitalize on these opportunities, supporting regional growth and enhancing its earnings visibility.
More about Nam Cheong Limited
Nam Cheong Limited is a leading Offshore Support Vessel (OSV) provider based in Sarawak, Malaysia, operating primarily in Southeast Asia. The company specializes in providing multi-role vessels such as Anchor Handling Tug Supply (AHTS) vessels, which are essential for offshore operations including heavy-duty towing, anchoring, logistical support, and emergency response services.
YTD Price Performance: 25.00%
Average Trading Volume: 2,958,374
Technical Sentiment Signal: Buy
Current Market Cap: S$202.7M
See more data about 1MZ stock on TipRanks’ Stock Analysis page.