Nam Cheong Limited said on Apr, 16 2026 that it has reduced its restructured debt balance by 42 %, from 492.2 million Malaysian ringgit at the close of its restructuring in Mar, 2024 to 285.0 million Malaysian ringgit as of Apr, 2026.

The company repaid 207.2 million Malaysian ringgit over the two-year period, including 82.5 million Malaysian ringgit of principal that was originally due in 2026, as well as further prepayments scheduled up to three years ahead.

Nam Cheong funded the repayments with cash generated from its chartering business and proceeds from vessel sales announced on Jan, 26 2026. As of Dec, 31 2025, its net gearing ratio stood at 0.27 x.

About 69 % of the company’s fleet is on long-term charters, and its remaining restructured debt matures in 2031, giving the group what it described as a “sufficient runway” to pursue growth in the offshore support vessel market.