Corporate digest

Dyna-Mac Holdings

MAINBBOARD-LISTED Dyna-Mac Holdings, which fabricates topside modules and structures for the offshore oil and gas industry, posted a smaller net loss of S$11.7 million for the fourth quarter ended Dec 31, 2020, compared with the S$24.1 million loss in the year-ago period.

Revenue rose 3.3 per cent to S$30.1 million in Q4 FY2020 from S$29.1 million in Q4 FY2019 - mainly due to higher project progress achieved, Dyna-Mac said in its results statement on Friday night.

Other income climbed to S$2.9 million in Q4 FY2020 from S$228,000 in Q4 FY2019. "The other income in Q4 FY2020 comprised mainly income recognised from the government grants. In contrast, the other income in Q4 FY2019 was mainly derived from sale of scrapped materials," Dyna-Mac said.

Loss per share eased to 1.14 Singapore cents in the latest quarter from 2.36 Singapore cents in the year-ago period.

The counter closed 0.3 Singapore cent lower at 10.3 Singapore cents on Friday.The group said that while new fabrication projects it has secured are expected to maximise the utilisation of the group's yard facilities and provide sustained revenue streams up to Q2 2022, market conditions remain difficult and margins remain depressed. "In addition to higher labour costs, the group also faces challenges in ramping up its foreign worker headcount to meet its needs due to the Covid-19 containment measures imposed by the government."

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Ezra Holdings

THE judicial managers of Ezra Holdings (JMs) are seeking a second extension.

In a regulatory filing with the Singapore Exchange over the weekend, the company announced that the JMs have made an application to the court for the validity of the Judicial Management Order (JM Order) to be extended for six months, from June 22 this year until Dec 22.

The JMs have also applied to the court to be granted a six-month extension until Aug 21 this year to provide the company's creditors and members with the JMs' statement of proposals for achieving one or more of the purposes stated in the JM Order and convene a meeting of the company's creditors.

The court has fixed the hearing of the application on March 4.

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