Hot stock: Dyna-Mac jumps as much as 17.1% on new contract win

Vivienne Tay

Published Wed, May 4, 2022 · 12:43 PM

SHARES of mainboard-listed Dyna-Mac Holdings jumped as much as 17.1 per cent on Wednesday (May 4) after the group announced a S$180 million contract win.

The counter reached a high of S$0.144 on Wednesday, up 17.1 per cent or S$0.021. This was higher than the 2-year high of S$0.138 it reached on Apr 27 after news of the proposed merger of Keppel Offshore & Marine and Sembcorp Marine.

By the midday trading break, shares of Dyna-Mac were up 12.2 per cent or S$0.015 to S$0.138. Around 29.7 million shares changed hands, pushing Dyna-Mac to be among the most actively traded by volume on the Singapore bourse.

Dyna-Mac, which fabricates topside modules and structures for the offshore oil and gas industry, announced on Wednesday morning that 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, the group noted.