Nam Cheong to beat peers with new products over the next few years
Management to spill details by mid-2014.
OSK showcased Nam Cheong (NCL at its Hong Kong Asean Corporate Day last Thursday. Investors warmed up to the company’s business model, growth prospects and low valuations, which struck a chord with the value- and growth-oriented funds.
Management said NCL is looking at creating a different product range that can “dominate the market in the next few years”, while remaining understandably coy about the details.
Here's more from OSK:
We expect more information in mid-FY14 on this. Meanwhile, the recovery of commercial shipbuilding in China is a strong support to vessel prices. Maintain BUY with SGD0.37 TP.