Dyna-Mac secures $88m from repeat customers

This will increase the company’s net order book to $630.7m

Dyna-Mac announced that it had secured several contracts worth a total provisional sum of S$88.0 million from repeat customers.

These new order wins will increase the net order book to $630.7m, with project delivery stretching into 2025.

The main contract win involves the construction of topside modules for the Floating Production Storage Offloading (FPSO) vessel, scheduled to start in 1Q 2024 with completion expected in 3Q 2025.

Other contract wins include the provision of services to carry out fabrication, installation, and integration work on vessels.

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.