Ginko-AGT raises Nam Cheong stake above substantial shareholder threshold

Its holding rose to 6.009% after buying 50,000 shares in May.

Ginko-AGT Global Growth Fund has raised its stake in Singapore Exchange (SGX) listed company Nam Cheong Limited to above the substantial shareholder threshold, according to a Securities and Futures Act (SFA) filing lodged with the SGX.

The fund purchased 50,000 shares on 18 May for $68,000, based on a Form 3 notification dated 28 May.

Following the transaction, its holding increased to 23.92 million shares, or 6.009% of Nam Cheong’s issued share capital, up from 23.87 million shares or 5.996% previously.

The filing showed the shares were acquired via a market transaction involving voting securities with no change in deemed interest disclosed.

The notification was submitted by Tim Kusumo, director at Ginko-AGT Global Growth Fund, on behalf of the fund.

The disclosure comes shortly after Nam Cheong Limited reported the sale of two offshore support vessels worth $48.8m in April, including one newbuild vessel, as part of its fleet rebalancing strategy to divest ageing assets and redeploy capital into shipbuilding activities.

The company said it expects global offshore engineering, procurement, construction, and installation (EPCIC) spending to rise 32% to $94.4b in 2026, which it expects to support demand for offshore support vessels.

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