• New orders secured increase net order book to S$630.7 million, with project
delivery till 2025
• Main contract win involves construction of topside modules for FPSO vessel;
work scheduled to start in 1Q 2024 with completion expected in 3Q 2025
• Other contract wins include provision of services to carry out fabrication,
installation and integration work on vessels
Dyna-Mac Holdings Ltd (“Dyna-Mac” or the
“Company” and together with its subsidiaries, the “Group”), announced that it had secured
several contracts worth a total provisional sum of S$88.0 million from repeat customers.
The main contract involves the construction of Topside Modules for a Floating Production
Storage Offloading (FPSO) vessel. Construction of the Topside Modules will commence in
1Q 2024 and will utilise new yard space recently secured. Completion of the project is
scheduled for 3Q 2025 and thereafter, the modules will be shipped to China for integration
with the vessel.
The other contracts include the provision of services to execute fabrication, installation and
integration work on vessels.
These new order wins will increase the net order book to S$630.7 million, with project delivery
stretching into 2025. The Group remains encouraged by the strong level of inquiries received
from both existing and new customers.
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.
