Nam Cheong back in the black on absence of asset impairments, forex gain

Singapore

OFFSHORE marine player Nam Cheong, which has undergone a restructuring exercise, reported a net profit of RM34.74 million (S$11.6 million) for the second quarter ended June 30, versus a loss of RM2.02 billion a year ago, thanks to a foreign exchange gain and the absence of asset impairments and writedowns.

Revenue for the quarter under review was 16 per cent l…