The Business Times
TOPLINE
·
SUBSCRIBERS

Strategy shifts power Dyna-Mac’s growth

Benjamin Cher

Benjamin Cher

Published Mon, Dec 4, 2023 · 05:00 AM
    • Switching gears from tendering widely to engaging customers early on has paid off for Dyna-Mac chief executive officer, Lim Ah Cheng.
    • Switching gears from tendering widely to engaging customers early on has paid off for Dyna-Mac chief executive officer, Lim Ah Cheng. PHOTO: DYNA-MAC

    IT WAS a turbulent time when Lim Ah Cheng took the helm at offshore oil and gas (O&G) contractor Dyna-Mac in 2020.

    The company’s founder had passed away just months ago in 2019, and its financial results were dismal.

    Underutilisation of the shipyard and a low order book drove Dyna-Mac to a net loss of S$23.8 million for FY2019, reversing from a net profit of S$1.5 million the year prior, as full-year revenue retreated 15.2 per cent to S$97.8 million.

    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.

    Toplinedyna-mac

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More