570 1robintingRobin Ting, executive chairman of Technics Oil & Gas. NextInsight file photo.

TECHNICS OIL and GAS, a leading full service integrator of compression systems and process modules for the global offshore oil and gas sector, announced that the Group’s subsidiary, Technics Offshore Engineering Pte Ltd, has won a contract worth a total of S$70.5 million for the construction of a Liftboat.


The Liftboat is expected to be delivered within two years from the Sept 2015 contract date. There is an option to construct a similar unit and the option can be exercised within six months from this contract date.

The Liftboat will be a Multi-purpose Self-propel Self-elevating platform capable of operating at water depths of up to 70 meters, and the Liftboat will have ABS classification.

The vessel will be constructed under the Group’s TOE 700 Series design.

The customer is an established regional player based in Malaysia and the vessel is expected to be deployed in Malaysia after completion.

Stock price  S0.64
52-week range S$0.60 – 0.78
PE (ttm) 14.5
Market cap S$148.4 million
Price/book 1.69
Dividend yield
SGX data
-
Despite tough industry conditions and fierce competition from more specialised competitors, the Group was eventually selected due to its advanced technology, strong engineering capabilities, innovative design, experience and proven track record in the oil & gas field.

Said Mr Robin Ting, Executive Chairman: “This contract represents our biggest contract win in 2015 till date. In addition to our recent contract wins in EPCC and CE projects in several countries in the region, our Group is on track to deliver consistent revenue to negate challenging times for our industry. Our group is also hopeful for more of such orders in future.

"We embarked on a leasing model a while back and we will also aim to grow the leasing business further and add more modules and equipment under the segment. Besides looking at the Liftboat segment, we are also planning to go for MOPU1 units and diversify our product range.” 

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.3000.060
Avi-Tech Electronics0.265-
Best World1.7000.020
Broadway Ind0.0960.001
China Sunsine0.390-0.010
ComfortDelGro1.360-
Delfi Limited0.930-0.035
Food Empire1.420-0.020
Fortress Minerals0.280-
Geo Energy Res0.3600.020
GSS Energy0.0270.001
Hong Leong Finance2.470-0.010
Hongkong Land (USD)3.150-0.090
InnoTek0.440-0.005
ISDN Holdings0.3200.005
ISOTeam0.035-
IX Biopharma0.041-0.004
Jiutian Chemical0.024-0.001
KSH Holdings0.250-
Leader Env0.050-
Medtecs Intl0.1310.001
Nordic Group0.335-0.005
Oxley Holdings0.090-0.001
REX International0.1460.012
Riverstone0.665-0.020
Sinostar PEC0.135-0.003
Southern Alliance Mining0.600-
Straco Corp.0.500-
Sunpower Group0.220-
The Trendlines0.085-
Totm Technologies0.021-0.002
Uni-Asia Group0.815-
Wilmar Intl3.3600.030
Yangzijiang Shipbldg1.780-0.010
 

We have 253 guests and no members online

rss_2 NextInsight - Latest News