Added to YB: 2026-02-27
Pitch date: 2026-02-24
1MZ.SI [bullish]
Nam Cheong Limited
-5.52%
current return
Author Info
No bio for this author
Company Info
Nam Cheong Limited, an investment holding company, provides shipbuilding and vessel chartering. It builds various vessels, including anchor handling tug supply (AHTS) vessels, platform supply vessels (PSVs), maintenance work vessels (MWV), accommodation work barges (AWB), safety standby vessels (SSVs), landing crafts, and fast crew boat (FCB).
Market Cap
SGD 1.8B
Pitch Price
SGD 1.45
Price Target
1.87
Dividend
N/A
EV/EBITDA
7.02
P/E
6.23
EV/Sales
3.46
Sector
Machinery
Category
growth
Nam Cheong, Again
1MZ.SI: Largest Malaysian OSV owner, 60% fleet under long-term contracts. Secured RM$317M (7 AHTS, 2yr) + RM$211M (3 OSVs, 2yr). Sold 2 old vessels for US$41M to delever & build newer ships. First newbuild in 10yr: US$64.5M UAE contract (4 vessels, 2027-28). AGT Partners (74% CAGR fund) took 7% stake at S$1.28. DBS target S$1.60, CGS S$1.87. Trading 7x EV/EBITDA w/ double-digit EBITDA growth ahead as OSV supply tightens (16-18yr avg fleet age). Petronas upped 2026-27 well count.
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