Nam Cheong Ltd (NCL) has reported losses of MYR 2.2bn ($471.3m) for the second quarter on the back of huge impairments.
The embattled Singapore-listed Malaysian shipbuilder announced to investors that it took a charge of MYR 1.88bn.
“The outlook for the offshore and marine sector remains weak and the group anticipates the progress of vessel sales and shipbuilding to remain slow,” NCL said.
