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NewsNam Cheong close to setting new sales record
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Nam Cheong close to setting new sales record
by Cals Tue 01 Oct 2013, 01:01
Published: Monday September 30, 2013 MYT 1:26:00 PM
Updated: Monday September 30, 2013 MYT 1:28:42 PM
Nam Cheong close to setting new sales record
KUALA LUMPUR: Nam Cheong Ltd, a leading global offshore marine player and Malaysia's largest offshore support vessel (OSV) builder, today announced that it had sold four platform supply vessels for about US$120mil.
The customer is new to Nam Cheong and an emerging offshore marine services company based in Latin America.
In a statement today, its chief executive officer Leong Seng Keat said the sale was one of the largest for the year. It brought the company's cumulative order book to RM1.7bil.
He also said the four vessels bring the company's total sales for the year to 20, which is close to surpassing the record 21 sold in 2012.
"The global oil and gas industry remains robust amid growing demand for energy. With global exploration and production spending expected to reach a record US$678bil in 2013, we expect OSV demand to continue growing.
"This brings us on track to overtaking last year's sales record," Leong added.
The four vessels are being constructed as part of the group's build-to-stock series in its sub-contracted yard in China.
They are scheduled for delivery in 2014 and expected to contribute positively to the Group's earnings for the financial years ending Dec 31, 2013 and Dec 31, 2014. - Bernama
Updated: Monday September 30, 2013 MYT 1:28:42 PM
Nam Cheong close to setting new sales record
KUALA LUMPUR: Nam Cheong Ltd, a leading global offshore marine player and Malaysia's largest offshore support vessel (OSV) builder, today announced that it had sold four platform supply vessels for about US$120mil.
The customer is new to Nam Cheong and an emerging offshore marine services company based in Latin America.
In a statement today, its chief executive officer Leong Seng Keat said the sale was one of the largest for the year. It brought the company's cumulative order book to RM1.7bil.
He also said the four vessels bring the company's total sales for the year to 20, which is close to surpassing the record 21 sold in 2012.
"The global oil and gas industry remains robust amid growing demand for energy. With global exploration and production spending expected to reach a record US$678bil in 2013, we expect OSV demand to continue growing.
"This brings us on track to overtaking last year's sales record," Leong added.
The four vessels are being constructed as part of the group's build-to-stock series in its sub-contracted yard in China.
They are scheduled for delivery in 2014 and expected to contribute positively to the Group's earnings for the financial years ending Dec 31, 2013 and Dec 31, 2014. - Bernama
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