Nam Cheong Q2 net up 55% at RM63.3m

Singapore

NAM Cheong yesterday reported a 55 per cent rise in second-quarter net profit to RM63.3 million (S$24.7 million) from RM40.7 million for the corresponding period last year, on the back of better performance by its shipbuilding and vessel-chartering businesses.

The Malaysia-based offshore marine player also saw its revenue rise 38 per cent to RM378.8 million for the three months ended June 30, from RM275.3 million last year.