Dyna-Mac Holdings Ltd. announced that it had secured several contracts worth a total provisional sum of SGD 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 first quarter 2024 and will utilise new yard space recently secured.

Completion of the project is scheduled for third quarter 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 SGD 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.