Singapore Stock Market News

Nam Cheong - A Fast-Moving Stock

StockFanatic
Publish date: Mon, 31 Mar 2014, 10:45 PM
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AHTS 100T BP 65M

Nam Cheong has sold a AHTS and PSV for USD43.1m, which maintains its orderbook at MYR1.4bn. The 2014 build-to-stock programme is now 67% sold, with only 10 units left. Petronas' recent announcement on lower charter rates will actually benefit Nam Cheong, as vessel owners hold back on build-to-order contracts. The firm is also successfully developing its global customer base.

Maintain BUY with a SGD0.48 TP.
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