Hanwha Group stands firm on $0.60 apiece offer for Dyna-Mac

It is currently the only offer for the group.

Hanwha Ocean SG Holdings Ltd is holding on to its Voluntary Conditional Cash Offer for Dyna-Mac at S$0.60 in cash for each Offer share.

According to the group, the current offer is already at a 21.2% premium over recent market prices, a significant 512.9% premium over Dyna-Mac’s net asset value.

Hanwha outlined in its rationale that the global energy transition requires investment in offshore activities and infrastructure upgrades, which Dyna-Mac may struggle to manage alone.

Hanwha also cites the company’s lack of barriers like technology or intellectual property to defend against competition in the offshore fabrication market. Volatility in oil prices, geopolitical risks, and financial challenges can also affect the company’s outlook.

Hanwha said its acquisition will enable the Dyna-Mac to advance new technologies and investments in the Singapore energy market whilst preserving its status as a Singaporean home-grown enterprise. Hanwha also said company now requires a global scale to continue its growth in the current industry landscape

Hanwha’s offer closes at 5:30 PM SGT on 30 October 2024.

Follow the link for more news on

Dyna-Mac

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Horizon3 sets up ASEAN headquarters in Singapore

The cybersecurity company will expand its local team following a $319.8m (US$250m) funding round.

Information Technology

2 hours ago

Daily Markets Briefing: STI slip 0.07%; Top stock is DFI Retail

DFI Retail is the top stock with a 1.82% increase.

Stocks

2 hours ago

Specialty chemicals manufacturing facility on Jurong Island for sale

The fully equipped facility is clean and ready to be recommissioned.

Commercial Property

15 hours ago

September surge masks looming export slowdown to 6% in 2027

Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.

Economy

19 hours ago