Dayang

Re: Dayang

Postby winston » Sun Sep 29, 2019 7:49 am

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Dayang: Pride comes before the fall

by Koon Yew Yin

Both the TA and FA are bullish for Dayang. Smart investors who knows how to read charts should buy more Dayang instead of selling.

Obviously, they are wrong to assume that the proposed right issues of 1 share for 10 shares will dampen the share price.

According to SC rule, the company can give up to 50 percent discount from the average price of the 5 trading days prior to the last day to buy the right issues.

Like all smart company directors, they will price the right issue shares as cheap as permitted by SC rule to benefit all the shareholders including themselves.

The price will be 80 sen per share if the 5 days average price is Rm 1.60 according to SC rule.

Since the price has gone up by 6 sen yesterday, it shows that there are more investors wanting to buy more Dayang so that they can buy more shares from the right issues at a 50% discount.

Based on the price chart, it looks like the share price will continue to go higher and higher.

I believe it will be above Rm 2.00 when the 3rd quarter result, ending September, is announced before end of November.


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Re: Dayang

Postby winston » Tue Oct 01, 2019 7:32 am

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Dayang's Expertise

by Koon Yew Yin

Dayang is the largest maintenance contractor in this region where Petronas has discovered a total of 163 oil fields and 216 gas fields.

According the SC rule, the company can offer up to 50% discount to the 5 days average price prior to the date of price fixing.

It is most likely the Board of Directors will fix the right issue price at about 80 sen a share to benefit all the shareholders and themselves.

Based on this, its 3rd quarter result ending September which be announced before end of November should be better than the 2nd quarter result.


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Re: Dayang

Postby winston » Sat Oct 05, 2019 7:40 am

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Dayang: Doubting Thomas

by Koon Yew Yin

https://klse.i3investor.com/blogs/koony ... 228366.jsp
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Re: Dayang

Postby winston » Mon Oct 14, 2019 7:33 am

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Dayang: My Rule for selling

by Koon Yew Yin

Dayang will report its 3rd quarter result before the end of November.

Looking at the aggressive buying in the last few days, it looks like many rich fund managers already know or expect the 3rd quarter result to be better than the 2nd quarter.

It is so foolish to sell Dayang when it can continue to report increasing profit, especially when the price chart is extremely bullish.

People can lie but chart cannot lie. Only stupid idiots who know what is an up trending chart to sell their shares.


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Re: Dayang

Postby winston » Tue Oct 29, 2019 5:14 am

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Dayang's Right Issues Enticed Investors to Buy More Shares

by Koon Yew Yin

According to the SC rule, the company can give up to 50% discount from the 5-day average price before the last day for the entitlement.

The company will most likely sell the right issues at a discount of 50%, to benefit all the shareholders including the controlling shareholders.


As long as Petronas continues to pump oil, Dayang will have more oil rigs maintenance contracts and its share price will continue to go up higher and higher.

Only foolish investors will sell Dayang or any stock if the company can continue to report increasing profit.


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Re: Dayang

Postby winston » Fri Nov 08, 2019 7:53 am

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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING DAYANG ENTERPRISE HOLDINGS BHD ("DAYANG" OR THE "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF 96,480,983 NEW ORDINARY SHARES IN DAYANG ("DAYANG SHARES") ("RIGHTS SHARES") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 10 EXISTING DAYANG SHARES HELD AS AT 5.00 P.M. ON 21 NOVEMBER 2019 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.92 PER RIGHTS SHARE ("RIGHTS ISSUE OF SHARES")
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Re: Dayang

Postby winston » Fri Nov 08, 2019 7:56 am

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TECHNICAL SELL - DAYANG (5141)

Target Price: RM1.75, RM1.65
Last closing price: RM1.90
Potential return: -7.8%, -13.1%

Upside may be capped. DAYANG’s share price is showing signs of pullback amid persistent profit taking activities, signifying possible halt in prior surging rally.

Weakening RSI and fast-paced MACD indicators currently signal an exit to sell into strength, anticipating performance in momentum and trend to remain weak in near term.

Should support level of RM1.85 be broken, it may continue to drive price lower to subsequent support levels of RM1.75 and 1.65.

Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling

Source: PublicInvest Research - 6 Nov 2019

https://klse.i3investor.com/blogs/Publi ... 234015.jsp
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Re: Dayang

Postby winston » Tue Nov 19, 2019 7:18 am

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Dayang: Points to ponder & can you advise me?

by Koon Yew Yin

1 The last day to buy with the right issues is 21 November.

2 The price will drop by 10 percent theoretically after 21 November because if you have 10 shares you will be given 1 right to buy 1 share at 92 sen

3 The expected better 3 rd quarter profit announcement will automatically push the price higher

4 Soon after 21 November, for every 10 shares you hold, you will be given 1 OR of 1 ticket to buy 1 share at 92 sen.

5 The OR of the tickets are marketable and you can buy the tickets which should be selling at a discount from the open market price otherwise investors will buy from the open market.

My questions are

1 Shall I sell some of my holdings to buy the OR or tickets?

2 Will the better 3 rd quarter result push the price much higher?

3 Is the rapid price rise from 90 sen due to the expected better 3rd quarter profit?

4 Shall I buy some more shares now so that I will have more OR or tickets to buy Dayang at 92 sen?

As I said before, even if the petroleum price dropped drastically by 50%, Petronas will continue to pump oil because Petronas has already paid for the oil rigs. The cost for just pumping is very small in comparison with the open market oil prices.

Dayang, being the biggest oil rig maintenance contractor will be given more contracts. As a result, Dayang will have very good profit growth prospect which will push the price higher and higher.

Comment: Petronas was also pumping oil in mid 2014 to end 2019 but the share price Collapsed from 3.80 to about 0.60.

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Re: Dayang

Postby winston » Sat Nov 23, 2019 11:20 am

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Dayang registers best quarterly net profit in Q3 on strong work order

KUALA LUMPUR: Oil and gas services company DAYANG ENTERPRISE HOLDINGS BHD posted its best quarterly earnings ever, on higher work order and increased vessel utilisation rate.

Net profit in the third quarter ended Sept 30 was more than doubled at RM107mil compared with RM48.7mil a year ago.

Revenue was up 27% to RM357.6mil.

"We are particularly excited with the higher work orders procured throughout the quarter as the job momentum has picked up significantly in the second half of 2019," the company said in a filing with Bursa Malaysia today.

Nine-month swelled to RM158mil, or 16.38 sen a share.

"More importantly, our profit in the first nine months of financial year 2019 has already surpassed that of the full year profit of financial year 2018. This will certainly pave the way for a strong financial year ending 2019," it said.

The company's strong performance year-to-date was driven by robust work orders for the maintenance, construction and modifications (MCM) contract, as well as topside maintenance services works under the Pan Hook-up and Commissioning Contract.

Consequently, vessel utilisation at subsidiary Perdana Petroleum Bhd also came in much stronger at 91%, as compared to 79% in the second quarter and 36% in the first quarter.

"Barring any unforeseen circumstances, we are optimistic that the strong earnings trend will be sustainable, premised on our large order book, estimated at RM2.5bil, implying clear earnings visibility over the next three years," Dayang said.

In August 2019, Dayang has obtained a new 15-month HUC contract from Petronas Carigali.

Meanwhile, Dayang said its group-wide debt restructuring will be completed by the first quarter of 2020. "Post-restructuring, Dayang will emerge stronger with optimal capital structure which will stand the group in good stead amid the recovery in the oil and gas sector," it said.

Source: The Star

https://www.thestar.com.my/business/bus ... 1IZrqI8.99
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Re: Dayang

Postby winston » Mon Nov 25, 2019 9:04 pm

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Dayang: shareholders are confused

by Koon Yew Yin

Mr Ooi Teik Bee has sent out his circular with a target price of Rm 3.00.

Kenanga has upgraded from Rm 2.00 to Rm 2.35

Hong Leong Investment Bank’s target price is Rm 2.30

MIDF’s target price is Rm 2.69.

PBB has down graded from Rm 2.00 to Rm 1.82

Dayang’s 1 quarter EPS -0.41 sen, 2nd quarter 5.71 sen and 3rd 11.1 sen. Assuming its 4th quarter EPS is the same as its 3rd quarter 11.1 sen, its annual EPS will be 27.5 sen.

Just based on P/E 10, Dayanag’s price should be Rm 2.75.

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