Dyna-Mac bags S$88 million in contracts from repeat customers
Add BT as a preferred source
Sharon See
DeeperDive is a beta AI feature. Refer to full articles for the facts.
OFFSHORE oil and gas contractor Dyna-Mac on Monday (Oct 2) said it had secured several contracts worth a total provisional sum of S$88 million from repeat customers.
These new orders will increase its net order book to S$630.7 million, with project delivery stretching into 2025, the company said in a bourse filing.
The main contract involves the construction of topside modules for a floating production storage offloading (FPSO) vessel.
It added that construction of the topside modules begins in the first quarter of 2024 and will use new yard space that it recently secured. The project is scheduled to complete in Q3 2025. The modules will be shipped to China for integration with the vessel after that.
Dyna-Mac said the other contracts include executing the fabrication, installation and integration work on vessels.
Its share price closed S$0.005 or 1.235 per cent lower at S$0.40 on Monday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
