Triyards bags $60m contract
Engineering and fabrication services firm Triyards clinched a $60m contract from a Southeast Asian client to build a self elevating unit (SEU), and announced a considerable drop in first quarter profit, Seatrade Asia online reports.
The latest contract will boost the company's orderbook to $643m as at 30 November 2012. Triyards is already building two units of SEUs, as well as a deepwater multi-lay vessel with heavylift capability.
“Demand for offshore support vessels and SEUs is expected to remain firm in the medium term. We will strive to widen our lead in the construction of technologically advanced SEUs and other offshore support vessels in Southeast Asia,” said Wong Bheet Huan, ceo of Triyards.
The spin-off of Ezra also posted first quarter net profit of $6.47m, down 45% compared to $11.7m in the corresponding period of 2011. Revenue during the period rose slightly by 5% year-on-year to $53.31m.
Triyards plans to broaden its revenue base by expanding its ship repair operations, moving into high-speed aluminium vessels and establishing its own offshore equipment product line.
