Dayang

Re: Dayang

Postby winston » Fri Feb 14, 2020 8:17 am

not vested

Dayang: The importance of share price

by Koon Yew Yin

On 17 May 2019, the company first announced its intention to place out not more than 10% of its total issued shares.

On 10 Feb 2020, the company submitted an application to Bursa Securities for an extension of time of up to 26 Aug 2020 to complete the implementation of private placement of 96,480,983 shares.

If the company could not find buyers for the placement shares when its share price was about Rm 1.00, how can it expect to find buyers when its share price has gone up nearly 300%?


An exercise in futility: The application for time extension to find buyers for the 96,480,983 placement shares is completely hopeless. It is an exercise in futility.

Moreover, all these share placement announcements have been depressing the share price. Otherwise the price could have gone up even higher. The company should withdraw its time extension application to save some dignity.


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Re: Dayang

Postby winston » Thu Feb 20, 2020 7:30 pm

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Dayang: Beware of an unscrupulous buyer

by Koon Yew Yin

Dayang 1st quarter EPS – 0.47 sen, 2 quarter EPS 5.7 sen and 3rd quarter EPS 11.1 sen. Just based on its profit growth rate, it is safe to assume its 4th quarter EPS will be 15 sen.

Its annual EPS will be 31 sen. Assuming it deserves to sell at P/E 12 the minimum price should be Rm 3.70 per share.

Comment: Why must it trade at a Forward PE of 12 as there's a huge placement coming?

My wife and I have more than 35 million Dayang shares.


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Re: Dayang

Postby winston » Sat Feb 22, 2020 5:42 am

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Dayang's annual revenue exceeds RM1bil, net profit at new high in FY19

KUALA LUMPUR: DAYANG ENTERPRISE HOLDINGS BHD, an oil and gas contractor, said annual revenue surpassed the RM1bil mark for the first time on robust maintenance job orders and higher vessel utilisation rate.

Net profit for the full year ended Dec 31, 2019 climbed 44% to RM236mil, a new high.

"We remain upbeat on the company’s future prospects as Dayang will leverage on its strong execution track record to ride on the ramp-up in business activities," it said in a filing with Bursa Malaysia today.

The company said during the second half of 2019, more work orders with higher values were issued and executed.

Dayang secured two I-HUC contracts from Petronas Carigali in December and in February added on another contract by CARIGALI-PTTEPI Operating Company Sdn Bhd.

Both these replenishment of new contracts have increased its order book to an estimated RM4.5bil.

"This will positively enhance our prospects and earnings visibility over the next three years," it said.

Source: The Star

https://www.thestar.com.my/business/bus ... gh-in-fy19
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Re: Dayang

Postby winston » Tue Feb 25, 2020 8:45 am

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Feb 23, 2020

Dayang: Intelligent investors versus ignorant investors

by Koon Yew Yin

The company posted a record net profit for the financial year ended Dec 31, 2019 because of higher profit margin on work orders received and performed during the current financial year.

Dayang posted a net profit of RM236.28 million, up 43.9% from RM164.22 million in the previous year.

Revenue grew 11.6% to RM1.05 billion in FY19 – exceeding the RM1 billion mark for the first time – from RM937.64 million in FY18.
Comment: Are you excited with a Revenue Growth of 12% yoy?

As at Dec 31, 2019, Dayang's order book stood at RM4.5 billion, which will keep it busy until 2023.

On Monday, we all can watch the fight between the intelligent investors versus ignorant investors.
Comment: It looks like the "intelligent" investors lost big time ( -8.5%) on Monday. The "intelligent" investors have forgotten that there's such a thing as "Market Risk", which is a much more powerful force than an individual stock's profit growth. So who ended up as the "intelligent investors" and who ended up as the "ignorant investors"?


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Re: Dayang

Postby winston » Mon Mar 09, 2020 9:21 am

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Dayang: The worst is Over

by Koon Yew Yin

As you know, Dayang has gone up from 50 sen to a high of Rm 2.94 within 13 months and during this period I have posted many buy recommendations. Only fools did not follow my recommendation to buy Dayang.

Comment: Only fools would buy after a huge run up and especially at MYR 3.00.


Even the oil price drops drastically, Petronas will continue to pump because the company has already paid the cost of the oil rigs and Dayang will be awarded more oil rig maintenance contracts.

Dayang is the most efficient maintenance contractor. Currently Dayang has more than Rm 2 billion worth of contracts by which Dayang will gain more profit in the next few years.

Comment: If oil prices dropped drastically, all the new maintenance contracts would be reviewed too.


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Re: Dayang

Postby winston » Wed Mar 11, 2020 8:30 am

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Dayang's Profit Growth Prospect

by Koon Yew Yin

Dayang’s ability to win two I-HUC contracts in December 2019 from Petronas Carigali reaffirmed the trust, confidence and support of our esteemed clients, especially Petronas.

In early Feb 2020, we added on another contract by CARIGALI-PTTEPI Operating Company Sdn. Bhd. for the provision of modification works for Block B-17 & C-19 and B-17-01 for a period of three years with two years extension option.

Both these replenishments of new contracts have increased our order book to an estimated RM4.5 billion to last us until 2023.


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Re: Dayang

Postby winston » Wed Mar 11, 2020 8:34 am

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Dayang- Forced Selling is Killing Shareholders

by Koon Yew Yin

Comment: On Monday, Mar 2, he boasted that a margin call is not so bad.

https://klse.i3investor.com/blogs/koony ... ew_Yin.jsp


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Re: Dayang

Postby winston » Tue Mar 17, 2020 2:53 pm

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Dayang plunging to ridiculous level

by Koon Yew Yin

I have been watching Dayang plunging down like a hawk and I told all my close friends and relatives to sell all their holdings and hold cash.

Comment: At 2.88, he was asking you to Buy. So what was the price was he selling at?

2018 revenue Rm 937 million and EPS 17.2 sen
2019 revenue Rm 1,046 million and EPS 24.3 sen
88 sen divided by 24.3 = 3.6 P/E ratio

Investors who have buying power should carefully watch for Dayang to rebound and start buying Dayang. The best time to buy is at the pivoting point when it starts to change its down trend to up trend.



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Re: Dayang

Postby winston » Wed Mar 18, 2020 9:31 pm

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Dayang: The worst is over

by Koon Yew Yin

It is safe to buy Dayang because it will not drop below 88 sen again.

Comment: Wrong again. It closed at 0.815.


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Re: Dayang

Postby winston » Thu Apr 02, 2020 8:39 am

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Feb 5, 2020

Dayang Enterprise Holdings Bhd

Upgrade to trading buy with a target price of RM3.15: Dayang Enterprise Holdings Bhd is starting to make its presence felt internationally, clinching an umbrella contract in Thailand for the provision of modification works for Block B-17 & C-19 and Block B-17-01.

The contract, awarded by Carigali-PTTEPI Operating Company Sdn Bhd (CPOC), is for a three-year period with a two-year extension option.

We were positively surprised by this development as we had not expected Dayang to secure any significant contracts aside from potential additional “farm-in” works from existing contracts. It provides Dayang even greater earnings visibility for up to the next four years.

We tweak our financial year ending Dec 31, 2020 (FY20) and FY21 forecasts higher by 3.3% on average, with adjustments made to profit margins for its existing work orders.

Effective Jan 30, 2020, the new contract was awarded by CPOC which serves as the operator under a joint operating agreement between Malaysia’s Petronas Carigali JDA Sdn Bhd and Thailand’s PTTEP International Ltd, in respect of the exploration and exploitation of petroleum for Block B-17 & C-19 and Block B-17-01 located in the lower part of the Gulf of Thailand near the South China Sea.

While there was no specific contract value mentioned as it would be based on work orders issued by the project owner, we think it could potentially be worth US$80 million (RM330.4 million) throughout the period.

With this contract, together with recent packages from integrated hook-up and commissioning as well as additional “farm-in” orders, Dayang’s existing order book, which stands at RM4.8 billion, has surpassed its previous high of RM4 billion in 2014.

We remain upbeat about its growing order book given its strong position as a brownfield services specialist. Dayang is set to announce its fourth quarter of FY19 (4QFY19) results on Feb 21, with expectations that the results would beat our estimates as we had been conservative over its profit margins.

We now estimate the group to deliver RM60 million to RM90 million for 4QFY19 alone (4QFY18: RM80 million) following robust activity seen in 3QFY19 as more plant turnarounds take place.

Source: PublicInvest Research
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