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Dyna-Mac Secures in-Principle Award of Fabrication Contracts

Source: www.gulfoilandgas.com 2/25/2020, Location: Asia

The Board of Directors of Dyna-Mac Holdings Ltd (“Dyna-Mac” and together with its subsidiaries, the “Group”) wishes to announce that the Group has secured in-principle award of fabrication contracts from both its repeat customer as well as new customers for a total of approximately S$18 million.

The contracts are for the fabrication of some units of topside modules for a Floating Production Storage Offloading vessel, pipe racks and skids. The fabrication will commence in 1Q2020 and is expected to complete by 1Q2021.

The above order is expected to have a positive impact on Dyna-Mac’s earnings per share and net tangible assets for the current financial year ending 31 December 2020.

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