Re: Dayang
Posted:
Wed May 24, 2023 10:27 am
by winston
not vested
Dayang Enterprise sinks into red in 1Q as revenue falls on fewer contracts, lower vessel utilisationBy Reyanna Ng
Dayang Enterprise Holdings Bhd fell into the red in the first quarter ended March 31, 2023 (1QFY2023), posting a net loss of RM15.95 million compared with a net profit of RM13.76 million a year ago.
Revenue for the quarter slumped 29.80% or RM47.72 million to RM112.42 million this quarter, from RM160.14 million in 1QFY2022, due to fewer work contracts being awarded, and lower vessel utilisation, which is typical during the monsoon season.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/668218
Re: Dayang
Posted:
Mon Jun 05, 2023 9:01 am
by winston
not vested
Dayang Enterprise
Sailing on a recovery in O&G spendingWe initiate coverage on Dayang Enterprise (DEHB) with an Add rating and a GGM-based target price of RM1.70.
We see it as an attractive proxy to the expected pick-up in offshore MCM and HUC activity levels after several years of dampened spending by oil majors.
Despite the relatively strong share price performance over the past 10 months (+33%), the stock trades at 1 s.d. below its 10-year mean.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... BFE35C8108
Re: Dayang
Posted:
Mon Jul 17, 2023 8:45 am
by winston
Regaining good momentumWe are encouraged by the higher unit rates secured for DEHB’s recent contract renewal, which bodes well for margins and earnings moving forward.
The company had also submitted bids this week for a sizeable new contract tender worth an estimated RM4bn-5bn in total.
DEHB remains a top pick. Reiterate Add, with a GGM-based TP of RM1.70.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 5EFB16BF40
Re: Dayang
Posted:
Thu Aug 24, 2023 9:51 pm
by winston
not vested
Dayang Enterprise posts highest quarterly earnings since 2019, marking strong rebound in 2QFY2023By Hailey Chung
Net profit of RM64.69 million in the second quarter ended June 30, 2023 (2QFY2023), its highest quarterly profit since its 4QFY2019 result of RM78.23 million.
Revenue also rose 16% y-o-y to RM305.73 million in 2QFY2023 from RM263.41 million.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/680040
Re: Dayang
Posted:
Tue Aug 29, 2023 11:40 am
by winston
not vested
Dayang Enterprise
Evidently strong earnings momentumFollowing the disappointing 1Q23, DEHB’s earnings showed a turnaround in 2Q23 while margins have also come in strongly.
We raise 2023F-25F net profit forecasts by 35-62% mainly for the stronger than-expected margins from its core operations and OSV fleet.
Reiterate Add with a higher GGM-based TP of RM2.50.
DEHB remains one of our top picks in the Malaysian O&G sector and broader market.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 5C8DD1AB59
Re: Dayang
Posted:
Tue Sep 19, 2023 11:24 am
by winston
not vested
RHB lifts Dayang earnings forecasts on strong visibility of work orders from PetronasBy Priyatharisiny Vasu
Dayang stands a good chance to win a portion of the new tender for Petronas’ five-year hook-up commissioning (HUC) and maintenance, construction and modification (MCM) contracts, with another extension option of three plus two years.
We are guided that marine vessel utilisation in 3QFY2023 is going to improve further from 2Q’s 72% and, as such, is on track to achieve 60%. Average daily charter rates have improved 5% to 7% year-on-year, and could potentially be higher if maintenance activities pick up next year.
Downside risks include a slowdown in new work orders, weaker oil prices, and higher operating cost,” the firm said.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/683050
Re: Dayang
Posted:
Fri Nov 24, 2023 11:33 am
by winston
not vested
Within expectationsDespite an encouraging pick up in revenue, DEHB’s 3Q23 normalised net profit dipped 5% qoq due to higher depreciation, taxes and minority interest.
9M23 normalised net profit made up 83% of our forecast. We consider this as in line as 4Q tends to be
seasonally weaker due to the monsoon season.Reiterate Add with an unchanged GGM-based TP of RM2.50. DEHB remains one of our top picks in the Malaysian O&G sector and broader market.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 541E4228CE
Re: Dayang
Posted:
Fri Nov 24, 2023 11:55 am
by winston
not vested
Dayang Enterprise Holdings Bhd posted its best quarterly net profit in about three years, after the integrated oil and gas service provider, logged a net profit of RM76.38 million for its third quarter ended Sept 30, 2023 (3QFY2023), compared with RM52.9 million in the same quarter last year.
Quarterly revenue rose 1.6% to RM343.76 million against RM338.34 million, underpinned by improved daily charter rates of vessels and more work order or contracts being awarded by oil majors received under topside maintenance contracts.
The improved financial performance was achieved on the back of better margins from vessel chartering and much lower other expenses attributed by net realised/unrealised foreign exchange loss exposure.
Source: The Edge
Re: Dayang
Posted:
Thu Mar 07, 2024 4:31 pm
by winston
not vested
Dayang set to ride on Perdana Petroleum's contract wins, says RHB IBBy Husnina Ahmad Dahlan
It is positive of Dayang’s 64%-owned Perdana Petroleum Bhd’s contract wins.
Perdana Petroleum won five contract awards — four contract extensions on three anchor handling tug supply (AHTS) vessels and one accommodation work barge, and one new AHTS contract granted by Petronas Carigali Sdn Bhd.
The value of these contracts range from RM8.3 million to RM19.8 million.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/703770
Re: Dayang
Posted:
Mon May 27, 2024 8:49 am
by winston
A new record for 1QDEHB’s 1Q24 normalised net profit of RM38.2m was its highest 1Q earnings on record, driven by higher OSV earnings and better flow on work orders.
We deem 1Q24 normalised net profit as in line at 14% of our forecast as we expect 2Q and 3Q to be stronger on a further pick-up in order flows.
DEHB remains one of our top picks in the Malaysian O&G sector and broader market.
Reiterate Add with an unchanged GGM-based TP of RM4.00.
Source: CIMB
https://rfs.cgsi.com/api/download?file= ... 782B3F1AEF