Through the listing of Dyna-Mac Holdings, Singapore Exhchange boosts its maritime and offshore cluster.
According to SGX, Dyna-Mac is a well-recognised offshore oil and gas engineering firm providing engineering, procurement and construction services to the offshore oil and gas, marine construction and other related industries. With principal business activities in the fabrication and assembly of topside modules for FPSOs and FSOs, Dyna-Mac’s global customers span from Asia-Pacific, Europe to USA.
Said Mr Desmond Lim Tze Jong, Executive Chairman and CEO of Dyna-Mac, “Dyna-Mac’s successful listing on the SGX today marks a major milestone in our 20-year corporate history. We are heartened by the strong interest for our IPO from sophisticated investors, including our cornerstone investor, Keppel Shipyard Limited. We believe their support underscores Dyna-Mac’s established reputation as a specialist provider of engineering, procurement and construction (EPC) services to the offshore oil and gas and marine construction industries.
Dyna-Mac’s success today is underpinned by our strong base of customers, who are amongst the world’s largest owners and operators of FPSOs/FSOs and semi-submersibles, our group of established sub-contractors and suppliers, as well as our dedicated staff. To date, our Group has completed over 130 topside modules with the largest single module load out of 1,520 tons and we are proud of our achievements.
Going forward, our status as a SGX-listed company will go a long way in further raising Dyna-Mac’s profile in global offshore oil and gas markets as we pursue our expansion plans overseas, starting with the PRC and Brazil.”
“We warmly welcome Dyna-Mac Holdings to the SGX family. We are pleased that Dyna-Mac has chosen our exchange as the platform to assist them in their global expansion plans. Dyna-Mac’s listing once again demonstrates the attractiveness of SGX as a fund raising venue for offshore companies and the interest of our investors in this sector. We therefore look forward to more of listing of such companies,” said Mr Lawrence Wong, Head of Listings, Singapore Exchange.
With a market capitalisation of $315 million, the listing of Dyna-Mac brings the combined market capitalisation of the maritime and offshore cluster to about $60 billion.
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