This decline in revenue is largely due to a relatively normalised utilisation rate of 70%, compared to the high base of 86% in 3QFY2024. On a q-o-q basis, revenue grew 6% y-o-y from the vessel chartering business, driven by improved vessel utilisation rates as long-term charters gradually began to contribute to earnings.
Nam Cheong Limited has reported earnings of RM45.8 million for 3QFY2025 ended Sept 30, down 3% y-o-y.
The group’s revenue for the reporting period came in 15% y-o-y lower at RM170.8 million.
