Dyna-Mac Holdings Ltd. (Dyna-Mac) secures several firm contracts worth a total provisional sum of S$270 million from its repeat customers.
The first contract win is for the construction of Topside Modules for a Floating Production Storage Offloading (FPSO) vessel. Work on the Topside Modules will commence in 3Q 2023 with completion scheduled for 2Q 2025. The other contracts include the provision of services to execute fabrication, installation and integration work on-board vessels.
Mr Lim Ah Cheng, Executive Chairman & Chief Executive Officer of Dyna-Mac said “We are very honoured that our longtime repeat customers have chosen to partner us for the construction of their FPSO 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.”
These new order wins will add S$270 million to the Group’s net order book of S$338.1 million as at end March 2023 bringing the net order book to S$608.1 million stretching into 2025. The above 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 31 December 2023.