The Malaysian offshore support vessel (OSV) builder also posted a net profit of 41.12 million ringgit, up 83% from 22.5 million ringgit last year.
Its core shipbuilding segment saw revenue rise by 87% from the sale of seven platform supply vessels (PSVs).
In its vessel chartering segment, revenue climbed 45% due to higher utilisation of the company’s 14-vessel charter fleet.
Nam Cheong chief executive said Leong Seng Keat said the company’s ability to accurately forecast market demand and build the right vessels ahead of time was a key factor to its success.
“Our
