Coastal Contracts Bhd can trace its roots to the early 1980s when former animal feed trader Ng Chin Heng, together with his wife and brothers, bought over a loss making tug and barge outfit called Coastal Transport (Sandakan) Sdn Bhd founded by a Sabahan at RM500,000.00. He only age 33 at that point.
It only had a fleet of four small tankers at the time, used mainly to ship commodities around the Borneo region.
Ng, 66, who now holds the position of executive chairman, was previously a trader in animal feed, fertiliser and raw rubber in the 1970s. He had no prior knowledge of the shipping business.
But the enterprising Sabahan learnt on the job, and even paid visits to shipyards in Malaysia, Indonesia, Singapore and China, facilitating the group’s entry into ship fabrication in 1993.
This is like Mitsubishi Sogoshosha in Japan. which started from shipping business and then venture into shipbuilding. Another company have similar trend is Petronas controlled MISC, which also controlled Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE).
However,I feel one company most similar to Japan's Mitsubishi Sogoshosha in Malaysia is Boustead Holdings Berhad, which has a trading house and a Banking arm Affin Bank Berhad, Other than have a naval shipyard controlled by boustead heavy industries corporation. As Mitsubishi also own a bank.
Back to Coastal Contracts Bhd and Ng Chin Heng
His fledgling marine transportation firm went on to be listed on the Main Board of Bursa Malaysia in 2003.
He and the company has survived 3 recession.
In 1985 recession, few of his customers in Singapore close down, which affected his company operation.
During Asean Financial Crisis in 1997, it is fortunated that some contract in USD has mitigate the effect.
Subprime crisis also have little affect on the company, as company able to maintain it growth in 2008/2009.
However,I feel one company most similar to Japan's Mitsubishi Sogoshosha in Malaysia is Boustead Holdings Berhad, which has a trading house and a Banking arm Affin Bank Berhad, Other than have a naval shipyard controlled by boustead heavy industries corporation. As Mitsubishi also own a bank.
Back to Coastal Contracts Bhd and Ng Chin Heng
His fledgling marine transportation firm went on to be listed on the Main Board of Bursa Malaysia in 2003.
He and the company has survived 3 recession.
In 1985 recession, few of his customers in Singapore close down, which affected his company operation.
During Asean Financial Crisis in 1997, it is fortunated that some contract in USD has mitigate the effect.
Subprime crisis also have little affect on the company, as company able to maintain it growth in 2008/2009.
Sandakan, Sabah-based Coastal Contracts owns 100 acres of yard space where it builds tugs, barges and offshore supply vessels (OSV).
The group has over the years carved a niche in the construction of sophisticated, higher-end OSVs that deliver better margins.
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Ng Chin Heng (Second from left together with board member during IPO at 2003
The company had some years ago ordered its first jack-up drilling rig, the Friede & Goldman JU2000E, costing US$210mil (RM697.2mil).
The rig expected to be completed in the third quarter of this year, has a water depth of 400 ft and drilling depth of 35,000 ft.
Ng directly and indirectly controls 49.34% of the group, filings with the stock exchange show, value at RM837million as at 31 Dec 2013. Not bad, for a company start with just RM500,000 in a loss making company.
Data from : The Star, Nanyang
The company had some years ago ordered its first jack-up drilling rig, the Friede & Goldman JU2000E, costing US$210mil (RM697.2mil).
The rig expected to be completed in the third quarter of this year, has a water depth of 400 ft and drilling depth of 35,000 ft.
Data from : The Star, Nanyang
沿海工程黄振兴从50万到8.35亿
黄振兴，通过妻儿间接持有沿海工程（COASTAL，5071，主板工业产品股）逾44%股权，本身直接握有大约5%股权，总计8.35亿令吉的上市资产。
沿海工程主要业务，是提供海事产品和服务给船运、油气和原产品领域，如打造、出租、维修和买卖船只，包括拖船、油轮、驳船等。
追溯沿海工程与黄振兴的渊源，是在80年代初的沙巴……
现年65岁的黄振兴，原本是个穷小子。造船业对他而言是极其陌生，因为他在70年代是从事动物饲料、废料和塑胶贸易。
直至他去到东马，了解到当地的地理形势和道路建设缓慢，发展不如西马的公路般四通八达。
不过，他发现东马内陆河流多，水路运输才是当地主流，船运业发展远超过道路。这一重点，为黄振兴创业之途掀开序幕。
接手亏损船运公司
因缘巧合，他在80年代初通过友人撮合，正式接触到造船领域。
沿海工程的前身，名为沿海交通（Coastal Transport），始于1976年，由一名沙巴人开始经营，但公司蒙受亏损，原持有人决定出售公司。
一家蒙亏的船运服务公司，并未让黄振兴就此却步。他详细翻阅这家公司的业务和账目，决定以50万令吉接手这家位于山打根的公司。
当年才33岁的黄振兴完成收购后，公司只有4艘油轮。可是，当时小地方的输油需求不大，公司要就此翻身是难如登天。
木材业发展成转机
山穷水尽疑无路，柳暗花明又一村。木材领域的蓬勃发展，成为公司的转机。
看到新机会的黄振兴，收购二手驳船，从内陆运输木桐到下游厂房，还可输出海外。在短短一年内，他以过人的眼光和毅力，成功把公司转亏为盈。
进入90年代后，公司转至运载其他产品，如煤炭、棕油和燃油等。
沿海工程接着茁壮扩展，开始涉足船只维修和服装，并学习船坞营运所需的技术和管理，到印尼、新加坡和中国探访别人的船坞，方在1993年推行造船业务。
随着公司规模扩大，他决定把其他家庭成员带进公司，协助他管理。
虽然沿海工程如今可说是家族生意，但累积数十年的经营能力，成为公司重要基础，并持续推动公司更上一层楼。
获《福布斯亚洲》肯定 入榜“200大最佳公司”
在黄振兴的领导与家人的协助下，沿海工程从一家只有4艘船的亏损公司，发展到今天拥有总计100亩的船坞、出租超过40艘船，并为大马皇家海军、大马海事执法机构等提供维修服务。
公司如今的客户，也不受限于国内，它打入邻国新加坡和印尼市场，更冲向中东、欧洲、非洲和美国。
以专业于打造岸外支援船（OSV）和海事运输业务而知名，沿海工程逾30年来持续取得好成绩，更荣获许多奖项。
例如，公司曾在《福布斯亚洲》“200大10亿美元以下最佳公司”连续6年榜上有名；毕马威（KPMG）股东价值大奖则连续5年获奖；《The Edge》10亿令吉俱乐部企业奖项的2011年“最赚钱公司奖”。
挨过三次经济风暴 沿海工程乘风破浪
沿海工程至少三度经历经济风暴，但依然屹立不倒。
80年代的大萧条，多家新加坡客户倒闭，曾冲击公司业务。
接着1998年的亚洲金融风暴，造船业务放缓，所幸租赁业务以外币收费，令吉贬值和与美元挂钩，缓和沿海工程的冲击。
在2007至2008年的全球金融危机，对站稳船运服务市场的沿海工程，冲击不大，公司盈利始终稳定增长。
掌舵沿海工程迄今32年，黄振兴向媒体分享自己的成功要诀时，提到多个要素：勤劳、坚毅，不会半途而废。
“不管你在从事什么行业，当你遇到困难时，切记要坚持下去，同时生活要有规律。”
拟打入油气上游 扩充造船价值链
沿海工程2013财年净利按年涨升27.57%，达到1亿5162万令吉；营业额微跌0.36%，报7亿6158万令吉。整体表现优异，只是租船业务收入降低。
油气带动OSV商机
随着全球经济逐步复苏，2014年的展望无疑优于2013年，特别是油气领域，全球石油需求料水涨船高。
油气领域如今逐步转到深海油田，意味更多探勘活动将从浅水转移到深海，势必刺激可在深海操作的岸外支援船（OSV）需求。
为了符合市场需求，且考量到现有OSV船队已不适用于深海区域，沿海工程表明将专注在打造更高科技，并可在深海操作和具有高规格的OSV。
此外，原油价格高企，加上岸外勘探活动捎来好消息，带动国际升降式钻油台（Jack-up Drilling Rigs）需求，特别是在东南亚、中东及墨西哥海湾等。
目前全球升降式钻油台使用率不错，在墨西哥海湾一带的出租费也稳定回升，更可一并提高东南亚的出租费率。
同时，全球现有船队都是80年代船只，无疑需要添新配备。因此，升降式钻油台的市场将在未来数年高速增长。
最近数年，公司也提供出租升降式天然气压缩服务单位（Jack-up Gas Compression Service Unit）。
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