Buoyant Q3 for Nam Cheong

BUOYED by a more than doubling in revenue, global offshore marine player Nam Cheong posted a record quarterly net profit of RM58.69 million (S$22.8 million).

The third-quarter profit attributed to equity-holders was 86 per cent up from the RM31.55 million posted a year earlier.

Revenue came to RM341.23 million, a jump of 140 per cent from last year. This was due to increased contributions from both its shipbuilding and vessel chartering segments.