Nam Cheong   

The phoenix rises

Cheong argh... Cheong kor engine running already...20 here we cóme

bernardc      ( Date: 20-May-2024 19:21) Posted: A good day for nam chéong... Today share price closed at 18.1 CTS..up 2 cents... At this rate ..breakout on the cards this week... Huart argh to all... Cheong kor doing a great job

 

Cheong argh... Cheong kor engine running already...20 here we cóme

bernardc      ( Date: 20-May-2024 19:21) Posted: A good day for nam chéong... Today share price closed at 18.1 CTS..up 2 cents... At this rate ..breakout on the cards this week... Huart argh to all... Cheong kor doing a great job

 

A good day for nam chéong... Today share price closed at 18.1 CTS..up 2 cents... At this rate ..breakout on the cards this week... Huart argh to all... Cheong kor doing a great job

 

Now 18.8... 20...let's go there. N make a breakout..

 

$0.20 later . I can smell it.
Now $0.186

 

wanna sell 100 lots also difficult

 

Cheong argh.. 18.3..plus 2.2... This one rocket..not submarine

SmallSmall      ( Date: 20-May-2024 09:11) Posted: Up $0.015 now $0.176 :)

 

Cheong ..Cheong..argh..

SmallSmall      ( Date: 20-May-2024 09:11) Posted: Up $0.015 now $0.176 :)

 

Up $0.015 now $0.176 :)

 

Can it make enough to repay its debt is the key question. Restructuring of debt is another way to get out of a default of debt situation. If a company defaults on its debt, it is heading into trouble and equity holders will be affected no matter what to some degree.

bernardc      ( Date: 18-May-2024 15:32) Posted: I agree with you...the past financials..were bad.. The coy almost went under... But after restructuring....I am not sure..something about the debts of RM 500 was forgiven... Now the coy makes money again...the 1st QTR financials is very unusual to say the least.... But now the coy is on even keel n starts to be profitable..

 

I agree with you...the past financials..were bad.. The coy almost went under... But after restructuring....I am not sure..something about the debts of RM 500 was forgiven... Now the coy makes money again...the 1st QTR financials is very unusual to say the least.... But now the coy is on even keel n starts to be profitable..

 

Yes...1st QTR report only...fat thumb..haha.. There is a small name change..n the sgx code is changed too.. After consolidation....this 1st QTR is only available

MrBear12      ( Date: 18-May-2024 14:03) Posted: Only 1q 24 report available https://www.simmons-simmons.com/en/publications/ck0al4tlwdgc30b59n4s1rr7m/280717-nam-cheong-restructuring-so-far-4si4p4c

 

Nam cheong. Bad

 

Only 1q 24 report available

https://www.simmons-simmons.com/en/publications/ck0al4tlwdgc30b59n4s1rr7m/280717-nam-cheong-restructuring-so-far-4si4p4c

 

Very interesting situation happenings..please read the restructuring.. The 2st quarter reports..financially very interesting...don't understand the debts n it's restructuring...any can explain

bernardc      ( Date: 17-May-2024 21:24) Posted: With. Reditirs holding a lot of shares..they will milk this stick..dyodd TraderBen      ( Date: 17-May-2024 18:09) Posted: So hard to cheong also can cheong.. maybe like bk

 

With. Reditirs holding a lot of shares..they will milk this stick..dyodd

TraderBen      ( Date: 17-May-2024 18:09) Posted: So hard to cheong also can cheong.. maybe like bk

 

So hard to cheong also can cheong.. maybe like bk

 

Today shoties all disappeared.. No 16. Up 1.9 cts

 

NEWS RELEASE
Nam Cheong reports healthy 1Q2024 results on the back of improved vessel
chartering rates and higher utilisation of larger vessels
&bull 1Q2024 revenue was up 73% year-on-year (&ldquo yoy&rdquo ) to RM111.5 million and gross profit
rose correspondingly by 91% yoy to RM49.6 million.
&bull The successful completion of its debt restructuring process has significantly improved
the Group&rsquo s sustainability and lays the foundation for capturing the growing business
opportunities.

In 1Q2024, the Group' s vessel chartering division generated RM111.5 million in revenue, marking a
73% increase yoy, primarily driven by improved daily charter rates and higher utilisation of larger
vessels. Similarly as in the previous quarters, the shipbuilding segment did not register any revenue as
no vessel was scheduled for delivery during the period.

In line with the revenue increase, gross profit grew by 91% yoy to RM49.7 million. Accordingly, the
gross margin improved to 45% during the period.
Selling and administration expenses increased by 30% yoy to RM11.0 million for 1Q2024, in tandem
with the increase in revenue.

Other operating expenses increased by 61% yoy to RM12.7 million for 1Q2024, primarily due to legal
and professional fees associated with the debt restructuring activities and the absence of net foreign
exchange loss during the period.
Following the conclusion of the debt restructuring, the finance costs decreased by 70% to RM2.0 million
for 1Q2024.

Consequently, the Group achieved a net profit of RM557.3 million for 1Q2024, compared to RM3.1
million for 1Q2023, mainly due to the gain arising from an improved debt profile.
Commenting on the Group&rsquo s results, Mr. Leong Seng Keat, Chief Executive Officer of Nam Cheong
said, &ldquo We are encouraged by the steadily improving performance over the past two years, attributed to
our strategic focus on the vessel chartering business which generates stable and recurring income.
The successful completion of the debt restructuring was yet another positive step for the Group. The
significant reduction in debt has strengthened the Group&rsquo s financial position, enhancing our ability to
continue delivering value to our customers and shareholders.

 

Back up to $0.151 again despite reported RHB selling......Looks interesting.

SmallSmall      ( Date: 16-May-2024 13:30) Posted: 100 to 1 consolidation. Good luck to those who shorted SmallSmall      ( Date: 16-May-2024 13:17) Posted: Day high $0.151.....+$0.018 on volume of 3.9 mil Catch the shorts?