Nam Cheong: Establishes New Vessel Management Subsidiary SKOM ME in the UAE

NewTimeSpace News: On June 29, 2026, Nam Cheong issued an announcement stating that Nam Cheong Pioneer Sdn Bhd, its indirectly wholly-owned subsidiary, set up a new wholly-owned subsidiary SKOM ME through registration in the United Arab Emirates. The registered capital amounts to AED 100,000 (approximately SGD 35,000), divided into 100 ordinary shares, with core business covering vessel management and operation services.

As disclosed in the announcement, the initial capital contribution will be funded from the Group’s internal cash resources. The establishment of this new subsidiary is not expected to exert a material impact on the Group’s net asset value per share and earnings per share for the current financial year.

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