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The Group registered a 24.3 per cent
decline in revenue from $269.5 million
in 2015 to $204.0 million in 2016. A
total of two new small size projects
were awarded and four projects were
completed and delivered to customers
in 2016. Three projects were carried
out in our yards in Singapore while
one project was carried out in our yard
in Malaysia. Our facility in our yard in
Malaysia was under-utilized due to low
volume of work secured from clients
as international market is seeing very
few new projects.
In 2016, a total of 28 topside modules,
18 pipe racks, one turret assembly unit,
one flare tower and one skid were
completed and delivered to owners.
These comprised five modules for
FPSO Kraken, six modules for Block
15/06 East Hub Development, and 11
modules, two pipe racks, one turret
Backed by extensive
experience
and
unsurpassed expertise,
Dyna-Mac
offers
diverse expertise and
capabilities
assembly unit, one flare tower and
one skid for FPSO Catcher. We also
delivered six land modules the Zadco
UZ 1M Enabler Project and 16 pipe
racks for Singapore Jurong Cogen
Project.
The topside modules segment was
the largest contributor, constituting
94.3 per cent or $192.3 million of our
total revenue in 2016, with the balance
of 5.7 per cent or $11.7 million from
others comprising specialised onshore
and offshore structures.
Assembly of GEO Stationery Turret in progress
Group photograph prior to module load-out
DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
35
Performance At A Glance
Financial Report
Corporate Governance and Transparency
Sustainable Growth
OPERATIONS
REVIEW
Year in Review