Nam Cheong (S$0.077) 1Q16 results barged under water by large order cancellation
-1Q net loss RM40.1m (1Q15: RM39.3m profit)
-1Q revenue negative RM93m (1Q15: positive RM326.3m)
-Top line wrecked by large AWB order cancellation and weaker vessel chartering business
-Bottom line further hit by adverse FX movement of RM36.9m
-Management not sanguine on outlook
-Trading at 0.38x P/B
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