Nam Cheong secures sale contracts for two vessels (Scandinavian Oil-Gas Magazine)

Nam Cheong secures sale contracts for two vessels

Published Jun 24, 2014

Nam Cheong International Ltd., a wholly-owned subsidiary of Nam Cheong, has secured sale contracts with a total value worth US$84 million from a subsidiary of Perdana Petroleum Berhad ('Perdana') for two units of Accommodation Work Barges ('AWB').

Revenue from the Contracts will be recognised over the relevant contractual period in accordance with the Group's revenue recognition policy. The Contracts are expected to contribute positively to the earnings of the Group for the financial year ending 31 December 2014 to 31 December 2016.

Tags: Nam Cheong Limited

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