Nam Cheong Secures Additional Vessel Chartering Contracts Worth MYR317 Million; Shares Jump 9%

MT Newswires

04/17

Nam Cheong (SGX:1MZ) secured multi-year offshore support vessel charter contracts worth around 317.1 million Malaysian ringgit, according to a filing with the Singapore Exchange on Wednesday.

The contracts are from regional oil companies in Malaysia and include seven units of anchor handling tug supply vessels that will be deployed in Malaysia and Thailand.

With the new contracts, the company now has 21 vessels under long-term charter, representing 56.8% of its total fleet.

Shares of the offshore support vessel provider surged over 9% in recent trading.

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