Malaysia-based, Singapore-listed shipbuilder Nam Cheong Ltd has reported a MYR 3bn ($738m) loss for its 2017 financial year, which ended on 31 December last year.
While substantially higher than the MYR 42.7m loss it recorded for its 2016 financial year, the bulk of the losses stem from impairments, including a MYR 342.9m writedown on the fair value of the vessels in its fleet and MYR 2bn in inventory write downs.
