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SHIPPING & MARINE | Staff Reporter, Singapore

Nam Cheong issues profit warning as order flow dims

But it should remain profitable for FY15, they say.

Anemic order flow has forced the shipping company to warn investors of a loss in 4Q15, adding that the operating environment will likely remain challenging.

According to a report by OCBC, the group has seen its orders dip in the past 12 months, due to a pullback in investment capex by oil and gas companies.

Nam Cheong will be releasing its results on 29 Feb.

“However, the Group is expected to be profitable for the full financial year ended 31 December 2015. This profit warning is based on the preliminary assessment of the Group’s unaudited financial results for 4Q FY2015,” a press release by Nam Cheong said.

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