Dyna-Mac secures new orders worth S$270 million
Wong Pei Ting
MAINBOARD-LISTED Dyna-Mac Holdings announced on Thursday (May 11) that the group has secured several firm contracts worth S$270 million in total from its repeat customers.
The new order wins will add to the global multi-disciplinary contractor’s net order book of S$338.1 million as at end-March 2023, bringing it up to S$608.1 million stretching into 2025.
One of the contract wins is for the construction of topside modules for a floating production storage offloading vessel, the group said in a bourse filing.
Work on the topside modules will start in the third quarter of the year, with its completion scheduled for the second quarter of 2025, it noted.
The other contracts pertain to the provision of services to execute fabrication, installation and integration work on-board vessels, Dyna-Mac added.
Lim Ah Cheng, executive chairman and chief executive officer, said he is honoured that long-time repeat customers have chosen to partner the company for the construction of their topside module projects.
“This is testimony of our ability to execute and deliver projects on time, on budget and in stringent compliance with the safety, security, health and environment standards,” he added.
The new orders are not expected to have a material impact on the group’s earnings per share and net tangible assets for the current financial year ending Dec 31, 2023.
Shares of Dyna-Mac closed 1.6 per cent or S$0.005 lower at S$0.31 on Thursday.
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