SIBU: Nam Cheong Limited, one of Southeast Asia’s leading Offshore Support Vessel (OSV) providers based in Sarawak, has won The Edge Singapore Centurion Club 2025 Award in the industry category for “Highest Growth in Profit After Tax Over Three Years”.
The award, presented on Nov 6, was conferred by The Edge Singapore with support from Singapore Exchange Limited (SGX) and knowledge partner Ernst & Young.
The recognition marks another milestone in Nam Cheong’s sustainable financial recovery, reinforcing its position as a key OSV player in the regional offshore energy sector. Executive chairman Tan Sri Datuk Tiong Su Kouk said the company is grateful for the recognition as it re-emerges stronger in the dynamic marine and offshore industry.
“This achievement reflects our deep industry roots, successful strategic business repositioning, and steadfast commitment to technological excellence, which have strengthened our reputation and track record.
“This recognition affirms our strategy of pursuing balance growth with business resilience. We remain focused on disciplined execution and are well-positioned to capture emerging opportunities in both OSV chartering and shipbuilding as they arise,” he said during a press conference on Monday.
Tiong also highlighted the company’s long history, noting its evolution from a small fishing vessel builder in Miri in 1968 to Malaysia’s leading OSV group, with more than 150 vessels delivered globally.
Listed on the SGX Mainboard since 2011, Nam Cheong continues to uphold its Sarawak heritage of craftsmanship, resilience and innovation while expanding its international footprint.
According to Tiong, Nam Cheong now operates the largest, youngest and most technologically advanced OSV fleet in Malaysia, comprising 38 vessels supporting sectors such as oil and gas, renewable energy and telecommunications.
He said 23 vessels, or about 60 per cent of the fleet, are under long-term charters, with roughly half contracted for three years or more. This balanced charter mix, he explained, provides stable cash flow and reduces exposure to short-term market swings.
Nam Cheong aims to raise the share of long-term charters to 70 per cent, keeping the remaining 30 per cent in the spot market to maintain flexibility and capture upside opportunities.
Tiong noted that strengthening offshore oil and gas demand—coupled with an ageing global OSV fleet averaging 15–16 years—is driving strong replacement requirements.
“Leveraging its over 60 years of shipbuilding track record and continuous technological upskilling, Nam Cheong is well-positioned to capitalise on the emerging newbuild momentum and further enhance its financial performance in the period ahead.
“Beyond core business development, Nam Cheong remains committed to social responsibility, including uplifting local communities through education and environmental sustainability, reflecting its vision to grow responsibly and inclusively for a better future,” he added.
The Centurion Club Awards recognise excellence among SGX-listed companies with market capitalisation of between S$100 million (RM340 million) and S$999 million (RM3.397 billion) as at Mar 31, 2025. Winners are selected solely based on audited financial performance.
