Nam Cheong sets up ship-management subsidiary in UAE

SGX Filings

Jun 29

Nam Cheong Limited announced the incorporation of a wholly-owned unit, SK Marine Ships Management and Operation – L.L.C – S.P.C., in the United Arab Emirates.

The new company, established with an issued and paid-up capital of about 0.04 million Singapore dollars, will focus on providing ship-management and operational services. Nam Cheong said the move is part of its strategy to build a local presence in the Middle East to support existing offshore contracts and pursue new infrastructure opportunities. The investment, funded from internal resources, is not expected to have a material effect on the group’s net tangible assets or earnings per share for the financial year ending Dec, 31 2026.

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