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Nam Cheong eyes more international presence

Nam Cheong Sdn Bhd (Nam Cheong), a leading global offshore marine player and Malaysia’s largest Offshore Support Vessel (OSV) shipbuilder, is eyeing more international market presence.
Executive director Leong Seng Keat said the company would focus on areas which had potential for oil and gas activities.
“We will definitely be there, at the hotspot areas for oil and gas business especially in West Africa, Brazil and the Asian region, as it has great opportunities for the OSV market.
“These three locations are going to be major markets for Nam Cheong in future,” he told Bernama after the launch of the NC800 multi-purpose support platform by Sarawak Chief Minister Tan Sri Abdul Taib Mahmud.
NC800, commissioned by Bumi Armada Bhd, is the first diesel electric multi-purpose platform support vessel and the largest vessel built by Nam Cheong in Malaysia.
At home, Leong said the company remained bullish in terms of demand as increased activities by oil majors have benefited the company.
He said the industry would remain favorable as Malaysia had a very strong exploration and production expenditure programme coupled with expanded capital expenditure by Petronas which was likely to spur oil and gas activities in the country.
“We look forward to any growth in the Malaysian marine offshore market. This is our key base.
“We definitely see oil and gas activities increasing in Malaysia.
Therefore, we anticipate an increase in revenue as well,” he added.
Leong said 50 per cent of the group’s revenue was derived from its Malaysian business while the remaining accrued from its international operations.
Nam Cheong’s shipbuilding business, which contributed up to 90 per cent of its revenue between 2008 and 2011, is complemented by its vessel chartering operations.
Going forward, Nam Cheong would continue to innovate and improve its current range of products, Leong said, adding that shipbuilding would remain the company’s core business.
Source: Bernama