Dyna-Mac wins S$180m contract; net order book hits record high of S$641.1m

DYNA-MAC Holdings , which fabricates topside modules and structures for the offshore oil and gas industry, on Wednesday (May 4) said it obtained a firm contract with a provisional sum of S$180 million from a long-time repeat customer.

The new order win brings the company’s net order book to-date to a record high of S$641.1 million, with deliveries stretching into 2024, mainboard-listed Dyna-Mac said in a bourse filing.

The company will construct topside modules for a floating production storage offloading (FPSO) vessel. Work will commence in the fourth quarter of 2022 and complete in the first quarter of 2024.

Dyna-Mac does not expect the new order to have a material impact on the group’s earnings per share and net tangible assets for the current financial year ending Dec 31, 2022.

Its counter closed 1.6 per cent or S$0.002 lower at S$0.123 on Friday.