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Singapore’s Big Winner for the Week: Dyna-Mac Holdings Ltd

Investors in Dyna-Mac Holdings Ltd  (SGX: NO4) should be feeling happy this week as the company saw its shares jump by a whopping 44% since last Friday to close at S$0.205 this week.

In comparison, the Straits Times Index (SGX: ^STI), Singapore’s market benchmark, had slipped by 0.5%. This makes Dyna-Mac a big winner in the local share market this week.

Dyna-Mac’s business resides in the oil & gas industry. More specifically, it constructs and fabricates offshore FPSO (floating production storage offloading) and FSO (floating storage offloading) topside modules.

On 26 August, the company said that it had secured a S$12 million contract from a multi-national corporation (MNC) based in Singapore for the construction of 13 Pre-Assembled Racks, two Pre-Assembled Units, and one Pre-Assembled Structure. The MNC is a new customer of Dyna-Mac.

Dyna-Mac will be working on the project at its yard in Johor, Malaysia. The modular units will be delivered progressively to the owner, with the last unit to be shipped by May 2016. Including the latest contract, Dyna-Mac’s net order book currently stands at S$305 million.

Desmond Lim, Dyna-Mac’s chief executive, had commented on the contract wins in a press release:

“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 information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.