Dayang

Re: Dayang

Postby winston » Thu Jun 20, 2019 2:56 pm

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HLIB Research upgrades Dayang Enterprise to buy, raises target to RM1.21

by Arjuna Chandran Shankar

KUALA LUMPUR (June 20): Hong Leong Investment Bank (HLIB) Research has upgraded Dayang Enterprise Holdings Bhd with a higher target price (TP) of RM1.21 (from 88 sen) on the back of stronger financial results and a potential new contract.

In a note today, HLIB Research said it was upgrading the counter to buy with an upgraded target price of RM1.21 on an ex-rights basis and RM1.26 on a cum right basis.

The research house said it was doing so due to higher valuations for Dayang's offshore support vessel segment's higher 0.6 times price to book value (PBV) (previously 0.3 times) and its topside maintenance service segment's 10 times financial year 2019 (FY19) price earnings ratio (PER) (previously nine times).

"We believe both segments warrant higher multiple in view of robust workflow in the near-medium term. The announcement of restructuring also eliminates investors' concerns over Perdana Petroleum Bhd's going concern issue amidst strengthening its balance sheet," said HLIB Research.

The research house also said it was upgrading the stock on the basis of a potential hooking up and commissioning (IHUC) contract win from Petronas Carigali Sdn Bhd, as well as stronger quarterly results in terms of year-on-year and quarter-on-quarter growth.

It noted that the group's share price has fell 38% from its peak, suggesting the market has priced in the negative impact from a seasonally weak first quarter of the financial year 2019 (1QFY19) result and potential earnings dilution from the ongoing proposed restructuring, which involves a private placement and rights issue of up to 10% of the group's shares.

At 9:50am, shares in Dayang rose 5.61% or six sen to RM1.13 — with 16.01 million shares traded — giving it a market capitalisation of RM1.01 billion.

Source: The Edge

https://www.theedgemarkets.com/article/ ... rget-rm121
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Re: Dayang

Postby winston » Fri Jun 21, 2019 7:47 am

Dayang: Price chart is uptrend

By Koon Yew Yin

The price of Dayang shot up 10 sen to close at Rm 1.17 and at the close 1.73 million queuing to buy at Rm 1.17. Moreover, the price chart is up trending. Just based on these facts, it is most likely the price will continue to go higher and higher.

Stock prices change every day by market forces. By this we mean that share prices change because of supply and demand. … Conversely, if more people wanted to sell a stock than buy it, there would be greater supply than demand, and the price would fall.

Traders usually concentrate on charts made up of daily and intraday data to forecast short-term price movements. … Others might use a combination of long-term and short-term charts. Long-term charts are good for analyzing the large picture to get a broad perspective of the historical price action.

As you know, the price plunged when the company reported a small loss in its 1st quarter. It dropped to 87 sen. Since then it has been recovering gradually.

Fortunately, today the price shot up 10 sen to close at Rm 1.17 and at the close 1.73 million queuing to buy at Rm 1.17. It is most likely the price will continue to go higher and higher.

I advise readers not to sell too early until you see the results for the next 2 quarters which should be very good. This is my honest opinion.

http://koonyewyin.com/2019/06/20/dayang ... s-uptrend/
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Re: Dayang

Postby winston » Sat Jun 22, 2019 6:26 am

Dayang: when to buy & when to sell?

By Koon Yew Yin

Many people asked me these 2 million Ringgit questions because they are vitally important. You cannot make money if you do not know the answers to these 2 questions. All successful investors should know when to buy and when to sell.

All professional analysts use technical and fundamental analysis to buy and sell shares as they consider technical analysis is more important than fundamental analysis.

In this short article, I cannot tell you the details of technical and fundamental analysis. However, it is important to know the followings:

1 Down trend:

Never buy a down trending stock because it is most likely the price will continue to drop in the near future. Never try to catch a falling knife.

2 Uptrend: When to buy?

Always buy an up-trending stock because it is most likely the price will go higher in the near future.

If you have attended Mr Ooi Teik Bee’s course, you will know how to draw and read a price chart. In any case, I will tell you my simple way to draw and interpret a price chart as show on the price chart for Dayang below.

I draw a red line along the slope. As you can see the price has been trading above or higher than the red line in last 2 weeks which is indicating that Dayang is on an uptrend. The price will continue to go higher and higher in the near future.

Temporary price corrections:

As I said before, no stock can go up or drop continuously for whatever reason. After going up for some time, many shareholders who have bought it at cheaper prices would want to cash out to take profit. You must not follow to sell.

After these weak holders have completed their sales and serious long-term investors continue to buy more aggressively at higher prices, the price will continue to go higher and higher.

When to sell?

As you all know, the price plunged when the company reported a small loss in its 1st quarter, largely due to the inclement monsoon weather. Based on Dayang’s larger contract value in hand as compare with previous year and more employment of all Perdana’s vessels, the company should report better profit for the next 2 quarters.

I will not sell until I see the results of the next 2 quarters. I will only sell when I see the company reports a reduced profit, bearing in mind of the monsoon season.

http://koonyewyin.com/2019/06/21/dayang ... n-to-sell/
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Re: Dayang

Postby winston » Fri Jul 19, 2019 7:45 am

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Dayang: Investors Should Know These Facts

by Koon Yew Yin

Vessel utilisation of Perdana Petroleum improved from a low of 27% in the first quarter of 2018 to 73% in the fourth quarter of 2018. On a full-year basis, vessel utilisation was stronger at 64% in 2018 as compared to 52% in 2017.

Our net profit after tax came in at RM160 million, compared to a net loss of RM145 million in the financial year 2017.

Our financial year 2018 revenue grew by 35% year-on-year to a record high of RM938 million from RM695 million, reflecting the robust work orders from our key customers as well as improved vessel utilisation rate.

We are particularly delighted that there is a vast improvement in our gross margin which grew to 41% in the financial year 2018 as compared to 31% in during the financial year 2017.

The company should like the price to go higher for right issues and share placement.

Based on the above facts, obviously the company will report increasing profit in next 2 quarters-thus complying with my golden rule for share selection. We believe after the announcement of the next 2 quarterly results, the share price should be Rm 2.00.



https://klse.i3investor.com/blogs/koony ... 215747.jsp
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Re: Dayang

Postby winston » Mon Jul 29, 2019 6:12 am

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Dayang: How to Maximise Your Profit?

by Koon Yew Yin

27 July 2019

If you look at the price chart above carefully, the price plunged when the company reported a small loss of 0.43 sen EPS for the 1st quarter on 22 May due to the monsoon which has delayed the company’s contract works.

Let me tabulate the EPS for the last 5 quarters so that you can have a clearer picture of the situation.

1st Q 2019 EPS = - 0.43 sen (loss) monsoon
4th Q 2018 EPS = 10.13 sen
3rd Q 2018 EPS = 5.15 sen
2nd Q 2018 EPS = 4.03 sen
1st Q 2018 EPS = - 2.21 sen. (loss) monsoon

Just based on the company’s earning patent as above, you can expect the company to report increasing profit for the next 3 quarters thus complying with my golden rule for share selection.

Profit growth prospect is the most powerful catalyst for moving share price. Moreover, the company has recently reported that it has secured additional contracts.

After I seeing the aggressive buying of Dayang shares recently especially yesterday when the price shot up 4 sen, I am more confident that the price will continue to go higher and higher. It looks like there are a few big funds buying Dayang aggressively.

It looks like déjà vu. This situation reminds me of Lii Hen and Latitude Tree which shot up more than 800% within 2.5 years and VS Industry shot up 550% within 2 years. You can read all about these from my previous article namely “My Track Record”.

I am obliged to tell you that 90% of my holdings is Dayang. I am not encouraging you to buy or sell. But if you decide to buy or sell, you are doing at your own risk.

https://klse.i3investor.com/blogs/koonyewyinblog/
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Re: Dayang

Postby winston » Fri Aug 02, 2019 8:40 am

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Dayang: Knowledge & Anticipation are Important

by Koon Yew Yin

The KLCI chart shows that our KLCI has been dropping in the last 1 year due to various reasons. Fortunately, Dayang has been go up sharply in the last 2 months.

Dayang price chart shows that its price dropped sharply in May to a bottom of 90 sen when the company announced a small loss for its 1st quarter due to the monsoon which has affected its operation. Dayang has a few billion Ringgit contracts for the maintenance of oil rigs in the open sea.

You must notice that the price started to drop a few weeks before the announcement of the poor result.

It means that some people knew about the bad news before the announcement. Since then the price has been going higher and higher from 90 sen to Rm 1.50 per share in the last 2 months.

It has gone up 60 sen or 67%. I suspect many people already knew the company will report good result for the next quarter.

According to SC rule, the company must make announcement of its quarterly result within 2 months. That means the company will make the announcement before the end of this month.

In anticipation of the good result, many rich funds are buying aggressively. That is why the daily traded volume is a few tens of million shares. Who has so much money to buy so aggressively?

As I said before, no share can continue to go up or drop for whatever reason. After some time, it will change trend. That is why the price drop 6 sen yesterday. I don’t know if it will continue to drop or the rich funds take advantage to buy at cheaper prices today.

If you read this piece carefully, you should know how to anticipate to make more money.

https://klse.i3investor.com/blogs/koonyewyinblog/
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Re: Dayang

Postby winston » Mon Aug 05, 2019 7:35 am

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Dayang: Fund Raising Exercise

by Koon Yew Yin

Why did they sell their shares?

1 They believes that the controlling shareholders would press the price down so that they can buy the right issues (1 for 10) at cheaper prices.

2 They also believe that the controlling shareholders would press the price down to help the Sarawak Government to buy the placement shares of about 96 million shares.

My opinion:

A. I believe the next quarterly announcement should be good. It will be made before the end of the month. Dayang has the more maintenance contracts in terms of value from Petronas than any of his competitor because Petronas and the Sarawak Government are shareholders of Dayang.

C. Since the Sarawak Government is the buyer of the 96 million placement shares, the controlling shareholders or directors should want to sell the placement shares at a higher price and not at a cheaper price.


https://klse.i3investor.com/blogs/koony ... 217974.jsp
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Re: Dayang

Postby winston » Mon Aug 05, 2019 7:35 am

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Dayang: Fund Raising Exercise

by Koon Yew Yin

Why did they sell their shares?

1 They believes that the controlling shareholders would press the price down so that they can buy the right issues (1 for 10) at cheaper prices.

2 They also believe that the controlling shareholders would press the price down to help the Sarawak Government to buy the placement shares of about 96 million shares.

My opinion:

A. I believe the next quarterly announcement should be good. It will be made before the end of the month. Dayang has the more maintenance contracts in terms of value from Petronas than any of his competitor because Petronas and the Sarawak Government are shareholders of Dayang.

C. Since the Sarawak Government is the buyer of the 96 million placement shares, the controlling shareholders or directors should want to sell the placement shares at a higher price and not at a cheaper price.


https://klse.i3investor.com/blogs/koony ... 217974.jsp
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Re: Dayang

Postby winston » Sat Aug 24, 2019 7:22 am

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Dayang sees return to 'glorious days' as Q2 profit soars

KUALA LUMPUR: Oil and gas contractor DAYANG ENTERPRISE HOLDINGS BHD posted a jump in second quarter earnings, boosted by increased order book and higher profit margin.

The firm, in a filing with Bursa Malaysia today, expects the strong job momentum to continue in the second half of 2019.

"We are particularly excited with the higher work orders during the quarter which may suggest that the strong job momentum could well continue into the second half of 2019," it said.

"In addition, the synergistic collaboration between Dayang and its subsidiary, Perdana Petroleum Bhd has yielded the desired results."

Dayang said net profit in the second quarter ended June 30 surged 42% to RM55mil compared with RM38.8mil made a year earlier.

Turnover rose to RM247mil against RM221mil reported previously.

The group's results, it said, were driven robust work orders for the maintenance, construction and modifications contract (MCM), as well as topside maintenance services works under the pan hook-up and commissioning contract (Pan HUC).

Consequently, vessel utilisation also came in stronger at 79%, as compared to 36% in the first quarter of 2019 and 70% in the second quarter of 2018.

"We are optimistic that the strong earnings trend will be sustainable, premised on our sizable order book of circa RM2.8 billion, albeit on call-out-contracts," it said.

Source: The Star

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

Postby winston » Tue Sep 10, 2019 7:37 am

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Dayang: Right Issues & Share Placement

by Koon Yew Yin

The share placement will be executed after the right issues. According to the rule set by SC, the price of the placement shares will be the 5 day average price prior the fixing date of the placement with a maximum discount of 10%.

The Sarawak Government is the buyer of the placement shares and the controlling shareholders should want to push the price as high as possible, to benefit themselves and all the shareholders.

Moreover, if the Sarawak Government is a substantial shareholder and since a lot of Petronas oil rigs are situated in the Sarawak waters, Petronas will be obliged to award more maintenance contracts to Dayang.


https://klse.i3investor.com/blogs/koonyewyinblog/
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