Dyna-Mac (SGX:DMHL) Secures Contract from New Customer in Singapore

Sep 01, 2015 16:30 JST

Source: Dyna-Mac Holdings Ltd

SINGAPORE, Sep 01, 2015 - (ACN Newswire) - Dyna-Mac Holdings Ltd (SGX:DMHL; SI:NO6) has secured a S$12 million contract from an established and reputable first time new customer, an MNC based in Singapore, for the construction of 13 units of Pre-Assembled Rack (PAR), 2 units of Pre-Assembled Units (PAU) and 1 unit of Pre-Assembled Structure (PAS) for their Singapore project.

Dyna-Mac's contract includes the supply and installation of structural steel, piping installation, mechanical/equipment installation, electrical and instrument works, insulation, painting/coating and fireproofing works and pre-commissioning. The project's modular units are scheduled to be delivered progressively to the owner with the last unit loaded out by May 2016.

Mr Desmond Lim, CEO of Dyna-Mac said "We are delighted to be awarded this significant contract in Singapore. With our vast experience and proven track record in detailed engineering, procurement, construction and pre-commissioning of topside modules and having delivered 243 modules to-date, we are confident of delivering these modular units and meeting our customer's stringent requirements."

The project will be undertaken at Dyna-Mac's yard in Tanjung Kupang, Johor, Malaysia. On completion, the modular units will be transported by owner to their project site located in Singapore.

With this new contract, the net order book as at to-date stands at S$305 million. This includes an adjustment to the work scope for the Zadco project (press release dated 1 November 2013) and an increase in the number of modules for the Kraken project (announcement dated 12 May 2014).

The above is not expected to have any material impact on the net tangible assets and earnings per share of Dyna-Mac for the current financial year.

Contact:

Ms Belinda Lim
Corporate Relations Executive
Dyna-Mac Holdings Ltd
DID: +65 6415 0859
Mobile: +65 9117 7425
Email: belinda.lim@dyna-mac.com
Website: www.dyna-mac.com

Source: Dyna-Mac Holdings Ltd
Sectors: Daily Finance