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Strategy shifts power Dyna-Mac’s growth

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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.

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