Nam Cheong Sells Three Offshore Support Vessels

Nam Cheong built-AHTS

Nam Cheong Limited, SGX Main Board-listed leading global offshore marine player and Malaysia’s largest Offshore Support Vessel (“OSV”) builder, today announced that it has sold one Platform Supply Vessel (“PSV”) and two Anchor Handling Towing Supply (“AHTS”) vessels worth a total of US$56.4 million, bringing the total number of vessels sold this year to 21.

This surpasses past years’ numbers to register an all-time record high for annual vessel sales in the Group’s corporate history.

Datuk Tiong Su Kouk, Nam Cheong’s Executive Chairman and CEO, said: “We are pleased to end the year on a high note, riding on industry momentum that has helped us win a slew of contracts for 2012. Again, our ability to capture demand and secure wins in a booming offshore and marine market, both domestically and globally, is a testament to our competitive strengths and unique business model. Even as we celebrate a bountiful harvest for the year, we will continue to hold fast to the fundamentals that have brought us success and not rest on our laurels.”

Press Release, December 27, 2012



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