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The topside modules segment was
the largest contributor, constituting
94.3 per cent or S$192.3 million of our
total revenue in 2016, with the balance
of 5.7 per cent or S$11.7 million from
others comprising specialized onshore
and offshore structures.
Re-positioning for the Future
We see the prolonged low oil prices
at US$45 to US$55 range as the new
norm. We are re-positioning the Group
to adjust and adapt to the new market
environment where tenders come in
smaller sizes and lower profit margin.
We are actively looking at ways to
lower cost and increase production
quality and efficiency by looking
at automation and streamlining
certain production processes. We will
continue to right-size the Group in
terms of manpower and facilities, to
cater to the current level of available
projects in the market. We believe
with the dedication and determination
of all our employees, our biggest
asset, we hope to be able to emerge
stronger and better after this phase of
downturn.
Sustainability Matters
Recognizing the importance of
balancing
our
economic,
environmental and social objectives,
Dyna-Mac remained committed to
sustainability and corporate social
responsibility.
As a responsible business enterprise,
we focused on value creation for our
employees, customers, contractors,
suppliers, partners and stakeholders
through upholding good corporate
governance, maintaining health and
safety standards, limiting our impact
on the environment, using resources
more efficiently as well as promoting
community care and engagement.
We continue to recruit, train and retain
the best people for the job. The Group
has a systematic training and career
development plan to retain employees
for business sustainability.
The Group also reached out to
many segments of the community
through various initiatives, including
sponsorship of a number of social and
charitable activities.
Topside module
Our yard in Tanjung Kupang, Johor, Malaysia
DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
07
Performance At A Glance
Financial Report
Corporate Governance and Transparency
Sustainable Growth
CEO’s LETTER
TO SHAREHOLDERS
Year in Review