Nam Cheong is doing really well after bouncing back from some serious financial trouble.
They are now riding the wave of booming demand. Clients are oil majors operating in Malaysian waters.

Demand is strong, supply is constrained. Things have not been this good for this company in a long while

https://www.nextinsight.net/story-archive-mainmenu-60/947-2024/15914-demand-is-strong-supply-is-constrained-things-have-not-been-this-good-for-this-company-in-a-long-while#google_vignette

I chose the wrong one.. dam sian

superstartup ( Date: 14-Nov-2024 12:48) Posted:

Saw mermaid result
Luckily stick with NamCheong

NamCheong 3Q EPS 35x of Mermaid (?)

superstartup ( Date: 14-Nov-2024 12:48) Posted:

Saw mermaid result
Luckily stick with NamCheong

Stable operating profits for three quarters liao
(even after stripping off the huge one-off items gain)

3Q EPS, MYR11.74 Cent = SGD 3.53 Cent
Annualised EPS is SGD 14 Cent

superstartup ( Date: 13-Nov-2024 19:59) Posted:

Quick take on 3Q result

NamCheong 3Q result basically reflect its operational result (that is, does not include other major exceptional items as expected)
So 3Q is a very good gauge of NamCheong daily ops

3Q ops result is relatively stable compare with 2Q ops (removed exceptional items)
3Q EPS, MYR11.74 Cent = SGD 3.53 Cent
Annualised EPS is SGD 14 Cent

(btw, NamCheong share price has overtake Mermaid and Beng Kuang.
Now with its operational EPS almost double of Dyna-Mac and with its NAV triple of Dyna-Mac, let' s see if Analysts like the revamped NamCheong and resume coverage of the company)

Please perform your own DD, am vested small small only

Can buy at current levels.. No problem to move above 0.45 in coming days 👍 👍

Saw mermaid result
Luckily stick with NamCheong

Riverstone 3Q EPS MYR 4.87c (stable recurring income)
Namcheong 3Q EPS MYR 11.74c (stable recurring income)

SIA Engineering 2Q EPS SGD 3.2c (stable recurring income)
Namcheong 3Q EPS SGD 3.53c (stable recurring income)

Too bad. In different industries.
Hopefully Namcheong will re-rate soon just like TheHourGlass then (no interest till spiked up)
Still think need some Analysts coverage for the upward price movement

superstartup ( Date: 13-Nov-2024 19:59) Posted:

Quick take on 3Q result

NamCheong 3Q result basically reflect its operational result (that is, does not include other major exceptional items as expected)
So 3Q is a very good gauge of NamCheong daily ops

3Q ops result is relatively stable compare with 2Q ops (removed exceptional items)
3Q EPS, MYR11.74 Cent = SGD 3.53 Cent
Annualised EPS is SGD 14 Cent

(btw, NamCheong share price has overtake Mermaid and Beng Kuang.
Now with its operational EPS almost double of Dyna-Mac and with its NAV triple of Dyna-Mac, let' s see if Analysts like the revamped NamCheong and resume coverage of the company)

Please perform your own DD, am vested small small only

The result is good!! Congrats 👍 If continue, should reflect in the share price.

superstartup ( Date: 13-Nov-2024 19:59) Posted:

Quick take on 3Q result

NamCheong 3Q result basically reflect its operational result (that is, does not include other major exceptional items as expected)
So 3Q is a very good gauge of NamCheong daily ops

3Q ops result is relatively stable compare with 2Q ops (removed exceptional items)
3Q EPS, MYR11.74 Cent = SGD 3.53 Cent
Annualised EPS is SGD 14 Cent

(btw, NamCheong share price has overtake Mermaid and Beng Kuang.
Now with its operational EPS almost double of Dyna-Mac and with its NAV triple of Dyna-Mac, let' s see if Analysts like the revamped NamCheong and resume coverage of the company)

Please perform your own DD, am vested small small only

As predicted earlier on, and NamCheong indeed overtook Mermaid and eventually Beng Kuang

Hopefully the upcoming quarterly result, couple with the earlier 2 quarters
For a total of 3 Full Quarters of operating results, stable, increasing profit, can convince some brokerage houses to resume coverage of NamCheong

Looking forward to catching up with Dyna-mac (though in different sub-sectors)
Afterall, NamCheong operating profit (less one-off item) is almost double of Dyna-Mac, also with Higher Revenue, and Higher NAV

( Not posting anymore till after the release of the upcoming quarterly result )

For those interested, accordingly to Kenanga Research in Malaysia, OSV companies at KLSE trade at average PE of 14x

https://klse.i3investor.com/web/staticfile/view/552078

Please perform your own DD, as always

superstartup ( Date: 04-Nov-2024 09:30) Posted:

Looking forward to 3Q result which will be released soon

What we need is more coverage by Analysts
Namcheong was covered by few Analysts back then
Hopefully with 3Q result, and that is 3 quarters of operationing profits, brokerage houses can be more confident to resume coverage

In any case, 3Q result will not have one-off items
Likely just pure result from operations people can then assess the company daily ops with more clarity

Hopefully the company maintain the operating profits per 1Q, 2Q
And this suffice for me to see more re-ratings

(please perform your own DD)

superstartup ( Date: 14-Aug-2024 12:50) Posted:

NamCheong Proma Result Looking at its Ops
(less off Other Income)

Numbers in order of 1Q / 2Q / 1H
(in millions RM)

Revenue 111 / 200 / 311
Gross Profit 49 / 97 / 146
Operating Profit, after less off Other Income 25 / 83 / 108
Profit before Tax 52 / 77 / 129
Income Tax 10 / 23 / 33
Net Profit 42 / 54 / 96

Outstanding Shares 387 / 394 / 394
EPS, in RM Sen 10.9 / 13.6 / 24.3
EPS in SGD Cent 1Q 3.24 / 2Q 4.05 / 1H 7.23
NAV, in RM Sen 65.7 / 98.2 / 98.2
NAV in SGD Cent 1Q 19.5 / 2Q 29.2 / 1H 29.2

Positive Liquidity Ratio with Current Asset (494m) > Current Liabilities (299m)

The interesting part is now Company in Positive NAV and in Positive Liquidity Ratio (Debt burden is now History)
More interesting is the stable earnings, 2Q better than 1Q and with 1H total EPS at around 7.23 SGD Cent

As usual, please perform your own due diligence
Just sharing over here
And to each own view / perspective

Looking forward to 3Q result which will be released soon

What we need is more coverage by Analysts
Namcheong was covered by few Analysts back then
Hopefully with 3Q result, and that is 3 quarters of operationing profits, brokerage houses can be more confident to resume coverage

In any case, 3Q result will not have one-off items
Likely just pure result from operations people can then assess the company daily ops with more clarity

Hopefully the company maintain the operating profits per 1Q, 2Q
And this suffice for me to see more re-ratings

(please perform your own DD)

superstartup ( Date: 14-Aug-2024 12:50) Posted:

NamCheong Proma Result Looking at its Ops
(less off Other Income)

Numbers in order of 1Q / 2Q / 1H
(in millions RM)

Revenue 111 / 200 / 311
Gross Profit 49 / 97 / 146
Operating Profit, after less off Other Income 25 / 83 / 108
Profit before Tax 52 / 77 / 129
Income Tax 10 / 23 / 33
Net Profit 42 / 54 / 96

Outstanding Shares 387 / 394 / 394
EPS, in RM Sen 10.9 / 13.6 / 24.3
EPS in SGD Cent 1Q 3.24 / 2Q 4.05 / 1H 7.23
NAV, in RM Sen 65.7 / 98.2 / 98.2
NAV in SGD Cent 1Q 19.5 / 2Q 29.2 / 1H 29.2

Positive Liquidity Ratio with Current Asset (494m) > Current Liabilities (299m)

The interesting part is now Company in Positive NAV and in Positive Liquidity Ratio (Debt burden is now History)
More interesting is the stable earnings, 2Q better than 1Q and with 1H total EPS at around 7.23 SGD Cent

As usual, please perform your own due diligence
Just sharing over here
And to each own view / perspective

superstartup ( Date: 14-Aug-2024 09:16) Posted:

Yesterday took a quick look, quick calculation

People did not realised that Namcheong Operations is making much more profit than DynaMac, and gang
Removed all the one-off items for 1Q and 2Q results and you can see clearly
2Q net profit from Ops is more than double of 1Q

Will tabulate the details over here subsequently

Please perform your own DD

No more players in Namcheong? Left BBs themselves play ....

very shiok leh nam cheong.. wasted i didnt hold long enough

This one has gone into uncharted territory liao.........$0.0495 !

SGX Penny Stocks (EW Charts by sgYuan):
namcheong 1h
wabc dn 335 hit and uturn up
wa up 61.8 365 hit and breakup

w5 wabc up wc up 425 hit 440
power

SgYuan:
namcheong 1h
wc up ew
w3 up 430 hit 440
dn 14.6 425 hold best
w3 up continues

w4 dn 405 must not breakdn
w5 up 485

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