Dyna-Mac Holdings, which provides engineering and construction services to the offshore oil and natural gas sector, has secured two projects valued at a provisional sum of $30 million.
The deals came from new customers: Houston-based Cameron Solutions and a company carrying out a project in Papua New Guinea, Dyna-Mac said yesterday.
Work on both projects will commence shortly and will be completed between the second and third quarters of next year.
The contracts are expected to have a positive contribution and impact on the company's earnings per share and net tangible assets for the year ending Dec 31 this year.
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Ley Choon Group Holdings
Ley Choon Group Holdings has clinched five contracts worth $51.4 million from various parties for works including the construction of underground utility infrastructure.
Chief executive Toh Choo Huat said: "On the back of our return to profitability the past financial year, our near-term focus on deepening our core competencies and capabilities will put us in a strong position to continue securing new contracts."
The new deals will boost the company's order book to $172.3 million, Ley Choon Group noted yesterday.
Mineral resources company AsiaPhos is embarking on an internal restructuring involving its subsidiaries in China and Hong Kong. The move is aimed at expanding its downstream business, which focuses on the production and sale of phosphate-based chemicals, it said yesterday.
As part of the restructuring, its unit Sichuan Mianzhu Norwest Phosphate Chemical, which handles both upstream and downstream businesses, will see the downstream portion hived off to a newly incorporated subsidiary.
AsiaPhos said the entire equity stake in the subsidiary will then be sold to another of its unit APC in Hong Kong. Following the restructuring, Sichuan Mianzhu will continue to carry out the group's mining operations and activities in Sichuan.
The company also announced plans to build a 6 million yuan (S$1.2 million) plant that can be used in the water treatment, food processing, paints, mining and chemical manufacturing sectors.