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Nam Cheong Limited ( (SG:1MZ) ) has shared an update.
Nam Cheong has agreed to sell a 4,000 deadweight tonne platform supply vessel to a Vietnam-based offshore and marine group for US$20.5 million, with delivery slated for December 2025 and the transaction expected to boost earnings for the 2025 financial year. The net proceeds will be redeployed into its shipbuilding operations and potential fleet expansion as part of a broader fleet reprofiling and capital recycling strategy, enabling the company to monetise ageing assets while leveraging its younger fleet and in-house shipbuilding to meet rising demand amid an ageing regional offshore support vessel fleet and tightening safety and efficiency requirements.
The most recent analyst rating on (SG:1MZ) stock is a Buy with a S$1.25 price target. To see the full list of analyst forecasts on Nam Cheong Limited stock, see the SG:1MZ Stock Forecast page.
More about Nam Cheong Limited
Nam Cheong Limited is one of Southeast Asia’s leading offshore support vessel providers, based in Sarawak, Malaysia, with strong in-house shipbuilding capabilities and an established global clientele. The Group focuses on building and operating a relatively young fleet of offshore support vessels to serve regional and international offshore and marine players, positioning itself to benefit from fleet renewal and expansion as older vessels in the market face retirement or costly upgrades.
Average Trading Volume: 2,654,151
Technical Sentiment Signal: Hold
Current Market Cap: S$329.8M
For an in-depth examination of 1MZ stock, go to TipRanks’ Overview page.