BRIEF-Nam Cheong Signed An MoU With Labuan Corporation

Reuters

17 November 2019 at 7:46 pm

Nov 18 (Reuters) - Nam Cheong Ltd:

* SIGNED AN MOU WITH LABUAN CORPORATION

* MOU TO LEASE A PIECE OF LAND COVERING 7.3 HECTARES IN KIANSAM, LABUAN

* NAM CHEONG DOCKYARD INTENDS TO REDEVELOP EXISTING FACILITIES ON LAND INTO MODERN INTEGRATED MARINE ENGINEERING AND CONSTRUCTION FACILITIES

* DEFINITIVE AGREEMENT IS EXPECTED TO BE INKED BY YEAR-END AND OPERATION IS EXPECTED TO BEGIN IN 2021

* UPON COMPLETION, OPERATION IS EXPECTED TO CONTRIBUTE POSITIVELY TO GROUP'S FINANCIAL PERFORMANCE FROM FY ENDING 31 DEC 2021 ONWARDS Source text for Eikon: Further company coverage:

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