OFFSHORE oil and gas contractor Dyna-Mac achieved a record S$896 million net order book with new contract wins.
The project deliveries stretch to 2026, said the group on Wednesday (Apr 3).
The new main contract marks the largest-ever contract win in Dyna-Mac’s history, “involving a record tonnage and number of process modules in a single contract”.
“The other contracts secured by the group include the provision of services for the execution, fabrication, installation and integration work on vessels, and scope increase for current projects,” said Dyna-Mac.
It added that the 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 Dec 31, 2024.
The contractor noted that its recent capacity expansion and upgrading allows further optimisation of its productivity.
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In its latest FY2023 financials released on Feb 20, the group recorded a 84.7 per cent increase in H2 net profit on the back of improved efficiency by intensifying its land use, raising its productivity and imposing tighter cost controls. Revenue for the half year increased 21.2 per cent to S$202.9 million.
Shares of Dyna-Mac : NO4 0% closed up 4 per cent or S$0.015 at S$0.39 on Tuesday.
