- Dyna-Mac (SGX:NO4), one of our conviction picks of Singapore small/mid cap stocks, said it more than doubled its order book to S$896m by winning S$456.8m worth of contracts.
- We remain bullish on the FPSO outlook with Dyna-Mac a key beneficiary of this multi-year upcycle.
Record breaking contract: Orderbook doubles
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
More orders to come
- FPSO (Floating, production, storage and offloading unit) charter rates are still trending up due to lack of supply. FPSO new builds are rising, with the pipeline of upcoming FPSOs still strong.
- We expect Dyna-Mac to win another S$100-200m worth of contracts by 2H24 and it has increased its capacity by 50-60% while also upgrading its capabilities to allow further optimization of construction methodology and production workflow.
Still room for upside impressive share price rally
- Read more at SGinvestors.io.
