Nam Cheong plans global expansion

Offshore staff

KUALA LUMPUR, Malaysia -- Sarawak-based offshore support vessel building Nam Cheong Dockyard Sdn. Bhd. is planning market expansion global, including West Asia, South America, and Australian markets.

Nam Cheong chairman Tiong Su Kouk told reporters that 80% of the company's facilities at the 12-hectare dockyard at Kuala Baram has been utilized. He projected full facilities usage, anticipating more orders.

Nam Cheong is to deliver 10 vessels between 2008 and 2010. Among the company's recently completed project is the $29-millionArmada Tuah 100 a DP-2 offshore support vessel for Malaysia's Bumi Armada Bhd.

Strong OSV demand boosted the company's revenue to $49.6 million last year from $16.05 million in 2005 and $14.9 million in 2004.

Leong Seng Keat, Nam Cheong's executive director, projects renewed demand from deepwater projects in the near future. "Deepwater cannot be ignored because that is the growth development in the oil and gas sector," he said.

6/19/2007