Nam Cheong - RHB Research 2026-04-07: New Chartering Contracts In The Bag; Maintain BUY

• Nam Cheong (SGX:1MZ) remains undervalued, currently trading at 9.4x vs its peers’ average of 11x.
• We believe new chartering contract awards further reinforce Nam Cheong’s earnings visibility and should be well received by the market. This development supports our investment thesis that new contract wins represent a key near-term catalyst for the counter.
• - Read this at SGinvestors.io -

New chartering contract wins.

• Nam Cheong has secured chartering contracts worth up to MYR102.5m, covering two vessels – an anchor handling tug supply (AHTS) vessel and a maintenance work vessel (MWV). Both vessels will be chartered for a period of up to two years commencing 2026, with options to extend for another year.
  • - Read this at SGinvestors.io -
  • The MWV, which will be chartered to a regional independent oil producer, is expected to commence operations in early 2Q26.
• Both vessels will be supporting offshore oil and gas activities across South East Asia.

Improving utilisation expected.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-04-22 Nam Cheong - On The Right Course, Yet Still Undervalued.

Price targets by other brokers at Nam Cheong Target Prices.

Listing of research reports at Nam Cheong Analyst Reports.

Relevant links:
Nam Cheong Share Price History,
Nam Cheong Announcements,
Nam Cheong Dividend Payout Dates & Corporate Actions,
Nam Cheong News