Nam Cheong

Nam Cheong: (Possible positive sentiments) Grp announced that it has secured 3 contracts worth a total of US$43.81m ($54.8m). The first vessel is a 3,000 dwt PSV for a new customer in West Africa, while the second is a 5,150 BHP AHTS vessel for a Norway-based customer and the third vessel, also a 5,150 brake AHTS vessel, is for a marine operator with an expanding fleet of offshore support vessels in MENA. Latest contract wins bring Nam Cheong's order book to RM912m, underpinning earnings visibility till 2014 and are expected to contribute positively to the group's earnings for FY12-13.