NORDIC: 2014 profit and dividend on uptrend

Impact from oil price plunge?

L-R: Eric Lin (Director, Special Projects and Product Development) and Foo Chee Tsuan (General Manager -- Power and Automation) with a private investor.» Is Nordic affected since its products and solutions are ship-related? Mr Chang noted that risks are mitigated because of the diverse range of vessels that Nordic serves.

While Nordic may see lower business related to oil & gas vessels such as semi-submersibles and FPSOs, there are other vessel types such as bulk carriers and container vessels for which it's business as usual for Nordic.

» As for scaffolding work for oil & gas majors whose plants are due for a shut-down for major maintenance, Mr Chang reckoned that they will keep to their schedule. 

These companies will not defer the major maintenance works as that would breach in-house standards.

Incidentally, maintenance contracts are excluded from the announced order book of Nordic which stood at S$38.9 million as at end February this year as these contracts are based on unit rates and therefore do not have a stated contract value upfront.

For the Powerpoint presentation materials, click here.