Dayang

Re: Dayang

Postby winston » Fri Mar 29, 2019 9:28 am

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Dayang: I should not worry about its daily price movement

By Koon Yew Yin

As you know, I have posted a few buy recommendations on Dayang and I have already used up all my money to buy it.

I don’t have any more money to buy. I should not worry about its daily price movement.

The closing price for today was Rm 1.38 with only 17 million shares transacted which is a healthy sign. It means that the rich institutional investors could not buy many shares at cheaper prices.

As soon as they rush to buy more aggressively, the price will shoot higher. I believe it will go higher and higher and reach my target price of Rm 3.00 sooner or later.

It is useless to worry about its daily price movement. If it drops a few sen, I don’t have money to buy and if goes up a few sen, I am not going to sell. In any case, whether it drops or goes up it does not matter to me.

I am planning to go to UK to spend time with my children and grandchildren.

Source: Koon Yew Yin

http://koonyewyin.com/2019/03/28/dayang ... -movement/
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Re: Dayang

Postby winston » Fri Apr 19, 2019 7:40 am

The following is an excerpt from Mr Ooi Teik Bee’s circular letter to all his subscribers.

Good prospect of Dayang

1. I believe 2019 result will be better than 2018 result
2. The present order book is 3 billion, I believe Dayang will secure at least another 1 billion job in 2019.
3. Dayang will do very well for next 3 years until 2021.
4. The share price of Dayang was peak in 2013/4 at 4.30. In 2013/4, Brent crude oil price was around USD 100.
5. I also believe the share price of Dayang will go up north from 2019 to 2021. I do not know how high will be the share price of Dayang.
6. The Brent crude oil price will stay around USD 65 to 75 in 2019.

Source: Koon Yew Yin

http://koonyewyin.com/2019/04/17/dayang ... ht-issues/
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Re: Dayang

Postby winston » Fri Apr 19, 2019 7:42 am

Dayang: investors discounted right issues

By Koon Yew Yin

April 17, 2019

There is a widespread rumour that the Bank has been pressuring Dayang to reduce the debt of Dayang’s subsidiary Perdana.

Many people expected the company to announce the right issues on last Friday 12 April. That is why the price has been dropping quite severely as you can see from the chart below.

Now the rumour is that the company will announce the right issues at the end of the month. But the price has not been dropping.

In fact, it has been going higher in the last few days. This means that most clever investors are fully aware and are prepared for the right issue announcement.

Source: Koon Yew Yin

http://koonyewyin.com/2019/04/17/dayang ... ht-issues/
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Re: Dayang

Postby winston » Wed May 15, 2019 6:30 am

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Dayang: keep or sell or buy

By Koon Yew Yin

As you know, Dayang has been investors’ favourite stock and most reasonably good investors would have some Dayang in their portfolios. That is why so many people asked me whether they should just keep or sell or buy some more.

I just came back after holidaying in UK for 14 days. While on holiday, I just wanted to feel free and forget about the stock market. But I was surprised to see Dayang dropped 9 sen per share yesterday.

To be honest, I also asked myself the same question.


I will not buy:

The price chart shows the price is on down trend. As I said before, never buy any stock when it is dropping because the price will mostly continue to drop. Always buy up trending stock because the price is most likely to go up higher the next day.


I have sold some to avoid margin call:

I made this decision based on the price trend, my margin position and not based on the basic good fundamentals. I strongly believe Dayang will outperform many other stocks as soon as the US-China trade war is settled amicably.


To keep or not:

If you are a serious long-term investor and you did not buy Dayang using margin loan, you should just keep your holding and do nothing because the price can rebound any time soon.

But if you bought a lot more Dayang with margin loan, just like me, you should sell some to avoid margin call. If your average purchase price is below the current price, you should feel happy.


As you know, I started promoting Dayang as soon as I saw its last EPS of 10.13 sen about 2.5 months ago when the share price was about 60-80 sen per share. Many of my followers would have bought Dayang at prices below the current price.

Of course, if your average purchase price is higher than the current price, you will feel depressed to sell and accept some losses. Don’t worry too much because just based on the fact that you have Dayang, you are a clever investor. I believe you will quite easily make back some profit as soon as the US-China trade wall is settled amicably.

Due to the uncertainty of the US-China trade war, almost all the stock markets around the world are depressed.

I have been investing in the stock market for more than 50 years and during this long period, I have seen several bull markets and also several market crashes. The current market is just floating up and down. It is most unlikely the market will crash.

I am looking at the stock market on every working day. I am 86.5 years old. Although I can afford to retire, why should I retire when I can get so much of excitement out of the stock market every day.

http://koonyewyin.com/2019/05/14/dayang ... ll-or-buy/
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Re: Dayang

Postby winston » Sun May 19, 2019 5:36 pm

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Dayang: Puzzle is Clearer

by Koon Yew Yin

Ever since Dayang hinted that it would require to carry out a fund-raising exercise, all investors were wondering what could it be.

In most cases, many shareholders in anticipation of the fund-raising exercise would sell their holdings because they think the company is financially not sound and the share price will drop.

From my long experience, raising money from shareholders or from financial institutions to do more business is a good strategy. In fact, in the 1st year of any MBA course, students are told that if they do business with only their own capital, they are considered inefficient.

They must not be afraid to borrow money to do more business, provided they know how to do business. Unfortunately, statistics show that 90% of beginners failed in their first attempt to do business.

Dayang’s announcement of raising fund to do more business is a good strategy.

Investors normally do not like uncertainty. For example, our famous Ooi Teik Bee sent out his advice to his 1,000 subscribers to sell and cut loss. Those who sold at higher prices should be happy to buy back at cheaper prices.

No one can win from any kind of war. The uncertainty of the US-China trade war and the announcement of the foreign fund, called Numeric Investor LLD sold a few millions shares and ceased to be a substantial shareholder also depressed the price.

Moreover, our national economy is in a bad shape due to the billions of Ringgit stolen by Najib, his cronies and the corrupted officials.

As a result, the price has been dropping in the last 2 months from its peak of Rm 1.71 to close at Rm 1.15 yesterday.

Finally, Dayang made an announcement of its financial restructuring exercise yesterday which makes the puzzle clearer. I believe the price has reached its bottom and the worst is over.

Immediately after seeing the announcement, my wife and I celebrated dinner and drank the recently voted best whisky in the world, 8 years old Queen Margot as photo below.

The 1st quarter result should be announced before the end of May and the 2nd quarter result should be announced before the end of August which is about 4 months away.

Based on the profit growth of the last few quarters and the recently secured additional new contracts, the company should continue to report increasing profit for the next 2 consecutive quarters-thus complying to my golden rule for share selection.

I believe the price will easily double after the announcements of the 2 quarter results. This may sound impossible.

If you look at the price chart you can that it had shot up from 60 sen to Rm 1.71 about 300% within 1 and a half months before.

The best time to buy is at the pivoting point when it starts to move uptrend. I will sell my all my other holdings to keep buying Dayang.

I have posted a few buy recommendations before when the price started to rise and I have only Dayang shares. I am not asking readers to buy to support the share price to help me because the daily volume is tens of million shares and whether you buy or sell will not affect the share price.

https://klse.i3investor.com/blogs/koony ... 207083.jsp
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Re: Dayang

Postby winston » Sun May 19, 2019 5:41 pm

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On behalf of the Board of Directors of Dayang (“Board”), Kenanga Investment Bank Berhad
(“Kenanga IB”) wishes to announce that the Company proposes to undertake the following:

(i) Proposed renounceable rights issue of up to 96,480,983 new ordinary shares in Dayang
(“Dayang Shares” or “Shares”) (“Rights Shares”) at an issue price to be determined
later on the basis of 1 Rights Share for every 10 Dayang Shares held at an entitlement
date to be determined later (“Proposed Rights Issue”);

(ii) Proposed private placement of up to 96,480,983 new Dayang Shares (“Placement
Shares”), representing approximately 10.0% of the total number of issued shares of
Dayang (“Proposed Private Placement”); and

(iii) Proposed subscription of new redeemable convertible preference shares (“RCPS”) of up
to RM455.0 million in Perdana Petroleum Berhad (“PPB”) at the entitlement basis and
issue price to be determined later pursuant to the proposed rights issue of RCPS to be
undertaken by PPB (“Proposed Subscription”).

http://www.bursamalaysia.com/market/lis ... ts/6165221
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Re: Dayang

Postby winston » Thu May 23, 2019 8:07 am

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Dayang returned to the black in its financial year ended Dec 31, 2018, after its final quarter of the year raked in a net profit of RM97.72mil compared with a net loss of RM55.21mil in the previous corresponding quarter.

This is mainly due to higher work orders received and performed under its topside maintenance contracts.

Its quarterly revenue jumped 64.9% to a record high of RM285.65mil from RM173.26mil in the previous year, despite the fourth quarter being a typically weak quarter due to the monsoon weather.

Despite the stellar performance, an analyst cautioned that Dayang was “still not out of the woods yet”.

“Its subsidiary, Perdana Petroleum Bhd, is deep in debt and until that is sorted out, it would be a while before Dayang is back to its glory days,” he said.

Earlier this week, Perdana Petroleum proposed to undertake a rights issue of redeemable convertible preference shares (RCPS) that could raise up to RM506mil.

Dayang has provided a written unconditional and irrevocable undertaking to Perdana Petroleum to subscribe up to RM455mil of the RCPS.

Dayang owns some 470.79 million shares or a 60.48% stake in Perdana Petroleum.

Source: The Star

https://www.thestar.com.my/business/bus ... R5JwqvY.99
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Re: Dayang

Postby winston » Thu May 23, 2019 3:26 pm

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Dayang falls as oil price drop offsets better 1Q results

by Emir Zainul

"The increase in revenue and improved loss before tax in the current quarter, is mainly due to higher work orders received and performed under the topside maintenance contracts.

In addition, the improved loss before tax in the current quarter has also taken into account the net realised/unrealised foreign exchange gain of RM1.1 million as compared to a net realised/unrealised foreign loss of RM28.5 million in the corresponding quarter," Dayang said.


Source: The Edge

https://www.theedgemarkets.com/article/ ... 1q-results
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Re: Dayang

Postby winston » Sat May 25, 2019 7:12 am

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Dayang Q1 losses at RM4.13mil

Friday, 24 May 2019

Dayang said in a statement that its net losses were RM4.13mil compared with RM21.30mil a year ago.

Revenue rose 0.5% to RM156.41mil from RM148.78mil.

Loss per share was at 0.43 sen compared with 2.21 sen.

PETALING JAYA: Dayang Enterprise Holdings Bhd has managed to reduce its net losses in the first quarter ended March 31 as work orders picked up, and it expects to perform better with an order book of nearly RM3bil and firm oil prices.

It said in a statement that its net losses were RM4.13mil compared with RM21.30mil a year ago.

Revenue rose 0.5% to RM156.41mil from RM148.78mil. Loss per share was at 0.43 sen compared with 2.21 sen.

The oil and gas support services company said its loss before tax narrowed to RM8.50mil versus RM36mil a year ago.

“In addition, the improved loss before tax in the current quarter has also taken into account the net realised/unrealised foreign-exchange (forex) gain of RM1.1mil as compared with a net realised/unrealised forex loss of RM28.5mil in the corresponding quarter,” it said.

When compared with the preceding quarter ended Dec 31, 2018, revenue fell 45%. It made a loss before tax of RM8.5mil as opposed to RM123.3mil in the preceding quarter due to a decrease in work orders received and performed under the topside maintenance contracts.

The decrease in revenue in the current quarter as compared to the immediate preceding quarter is mainly due to a lower vessel utilisation rate and lower work orders from the topside maintenance services.

There was also a net realised/unrealised forex gain of RM1.1mil as compared to a net reversal for impairment loss on property, plant and equipment of RM13.6mil in the preceding quarter.

On the outlook, Dayang said after registering a solid financial performance in 2018, it had a good start to the year with healthy results in the first quarter of 2019, which also represented its best first-quarter results since 2016.

“This is despite the seasonally weak quarter, which is typically affected by the adverse monsoon weather. We continued to deliver our work orders for the maintenance, construction and modification contract and topside maintenance services works under the pan hook-up and commissioning contract during the first quarter of 2019, albeit on a smaller quantum.

“Vessel utilisation also came in stronger at 36% in the first quarter of 2019, compared to 27% in the corresponding period in 2018.

“We are delighted by the relatively decent fleet utilisation, considering the slower work progress due to the inclement weather in the first quarter.

The synergistic collaboration between Dayang and its subsidiary, Perdana Petroleum Bhd, continues to work out well, as we execute our operations with better cost control and improved efficiency,” it said.

Source: The Star

Read more at https://www.thestar.com.my/business/bus ... 2rG0MoA.99
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Re: Dayang

Postby winston » Mon May 27, 2019 7:09 am

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Dayang: why it dropped 24 sen?

By Koon Yew Yin

On last Thursday Dayang dropped 24 sen due to its 1st quarter small loss, partly caused by interest charges and foreign exchange loss.

Its loss is less than the corresponding quarter of last year.

The SE monsoon during the 1st quarter, exasperated the loss.

Investors over reaction

From my long experience in watching the stock market, investors always over react due to good or bad news. When investors see some good news, they will rush to buy aggressively.

In this case, even the loss is small, shareholders dumped their shares as quickly as soon as possible; it is better to cut loss. They are so fearful. They cannot control their emotion to think logically.

As a result, the price dropped 24 sen on last Thursday. Most of the sellers were weak holders, stupid or uninformed investors, who did not know the real quality of the company and many had to sell to meet margin call.

Fortunately, on Friday, the price rebounded and it went up 3 sen. This will encourage many investors to buy back. This increased share price will definitely reduce forced selling.

I hope it is the pivoting point when it changes its down trend to uptrend which is the best time to buy. Nevertheless, I believe the worst is over.

Good profit growth prospect

I agree with our famous Mr Ooi Teik Bee that the next few quarters will show good profit growth which is the most powerful catalyst to move share prices.

Note: My aim for writing this article is honourable. I am not asking readers to buy to support the share price because the daily volume is tens of million shares change hands and whether you buy or sell will not make any difference.

http://koonyewyin.com/2019/05/23/malays ... -exporter/
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