Triyards clinches new orders worth US$100m

Singapore

OFFSHORE engineering and fabrication firm Triyards Holdings said on Monday it had secured new orders worth about US$100 million, even as it posted a drop in earnings for its second quarter.

Triyards, the fabrication and engineering arm of mainboard-listed Ezra Holdings, builds liftboats and other vessels. Its latest contract wins were for a liftboat, a project to make components for a power plant on land and a high-speed aluminium craft project awarded to its shipbuilder unit Strategic Marine, which it acquired in October last year. The order for the liftboat, which is scheduled for completion by August 2016, brings its newbuild pipeline to 11 liftboats, Triyards said in a statement. Group chief executive officer Chan Eng Yew said the firm's contract wins were growing fast across a "diverse" range of products. It has added about US$275 million to its orderbook since the start of 2015, he noted.