$Dyna-Mac (NO4.SG)$ Dyna-Mac signs MOU with BW Offshore to p...

Dyna-Mac signs MOU with BW Offshore to pursue global carbon capture and storage projects. These projects include the current gas and condensate projects in Australia's Northern Territory.

Dyna-Mac also announced that it had entered into a two-year MOU with shipyard operator Kim Heng to work on larger floating production storage and offloading (FPSO) module fabrication projects.

This is a "win-win" partnership as it allows Dyna-Mac greater flexibility to address the spikes in FPSO vessel module fabrication demand. It will also allow the group to further entrench its strategic presence in the FPSO module fabrication business through inorganic growth of its production capacity.

Meanwhile, Kim Heng will access more complex and valuable projects tapping on Dyna-Mac's know-how and client base in the FPSO module fabrication business.

"This mutually advantageous partnership between Dyna-Mac and Kim Heng aligns with the strategic vision of both companies, reflecting our shared commitment to providing enduring value for our respective shareholders," says Lim Ah Cheng, executive chairman and CEO of Dyna-Mac.

Thomas Tan, executive chairman and chief executive officer of Kim Heng, adds: "This partnership empowers us to engage in more substantial, intricate, and high-value projects, marking a significant step forward in Kim Heng's pursuit of sustainable long term revenue growth in the industry."