Dyna-Mac Holdings has been awarded a firm contract with a provisional sum of $180 million on May 4, bringing its net order book to date at a record high of $641.1 million.
The latest contract was signed with one of the company’s long-time repeat customers. It was for the construction of topside modules for a floating production storage offloading (FPSO) vessel.
Work on the topside models will commence in 4QFY2022 with completion scheduled for 1QFY2024.
Lim Ah Cheng, CEO and executive director of Dyna-Mac says, “We are honoured that our longtime repeat customer has chosen to partner us for the construction of the FPSO topside modules. This is testimony of our ability to execute and deliver our projects on-time, on budget and in stringent compliance with safety, security, health and environment standards.”
The new order is not expected to have a material impact on the group’s earnings per share (EPS) and net tangible assets for the current financial year ending Dec 31.
Shares in Dyna-Mac closed 0.2 cent lower or 1.60% down at 12.3 cents on April 29.
