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Hot stock: Nam Cheong jumps 19.2% after RM1.2 billion in contract wins

The company will charter a total of 12 vessels under the deal

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Chong Xin Wei

Chong Xin Wei

Published Fri, Nov 29, 2024 · 11:49 AM
    • After the market closed on Nov 28, Nam Cheong said that it had won multi-year contracts from regional and international oil majors.
    • After the market closed on Nov 28, Nam Cheong said that it had won multi-year contracts from regional and international oil majors. PHOTO: BT FILE

    SHARES of mainboard-listed Nam Cheong surged on Friday (Nov 29) morning, after the group announced that it had bagged offshore support vessel charter contracts worth RM1.2 billion (S$360 million).

    As at 9.20 am, the counter rose 19.2 per cent or S$0.07 to S$0.435, with about 1.6 million shares changing hands.

    The share price later eased to S$0.425, still up 16.4 per cent or S$0.06, as at 11.24 am, with 2.6 million securities having been transacted. No married deals were recorded in early trade, based on ShareInvestor data.

    Hot Stocknam cheong

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