Dyna-Mac - Maybank Research 2023-10-02: Secures S$88mil Worth Of New Contracts

• Dyna-Mac said it won several contracts worth a total of S$88m that will be for 1Q24 to 2025. Its order book has increased to S$630.7m and it continues to receive many enquiries from both existing and new customers.
• - Read this at SGinvestors.io -
• We have a positive outlook for Dyna-Mac.

Key proxy to strong FPSO demand; S$630.7m orderbook now

• Dyna-Mac (SGX:NO4) secured S$88m worth of contracts recently.
  • - Read this at SGinvestors.io -
  • The other contracts include the provision of services to execute fabrication, installation and integration work on vessels.
• As a result, Dyna-Mac's order book has increased to S$630.7m, offering clear visibility into FY25E.
• We expect Dyna-Mac to continue to benefit from this O&G upcycle and to continue to win more large orders as it has excess capacity to take on more work.

New land could expand capacity by 30-40%

• Read more at SGinvestors.io.

Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2023-10-02 SGinvestors.io

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