Dyna-Mac

Dyna-Mac: OCBC maintains Buy and raises TP to $0.62 from $0.52. House note that share price has jumped by about 29% since it upgraded call to BUY, outperforming STI’s flattish performance over the same period. Looking ahead, believe there is further upside as the group is well-positioned to benefit from possible new order wins. Recent orders for floating production systems are emerging at near record pace and the current backlog globally was at a peak of 67 units as of Apr 2012. To meet the growing demands, DMH recently acquired a 70% stake in a fabrication yard in Guangzhou, and rented another yard in Johor.