Dayang

Dayang

Postby winston » Wed Nov 05, 2014 10:31 am

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RHB Research maintains Buy on Dayang

KUALA LUMPUR: RHB Research has maintained its Buy call on Dayang with a lower target price of RM4.52 based on a 16 times FY15F price per earnings.

In a note on Wednesday, the research house said in light of the enlarged share base and a larger stake in Perdana, it has updated its model and take the opportunity to lower the target price to to RM4.52.

"We lift our earnings forecast marginally and reiterate BUY on Dayang, which is a local premier oil and gas service provider with an excellent track record," it said.

Dayang has placed out the first tranche of 52.1 million shares from the 82.1 million proposed private placement. It has raised RM175.6mil proceeds, which it believed will be used to buy more Perdana’s shares.

"Dayang currently owns 26.6% of Perdana’s shares, given the recent share price weakness. We trim our target price to RM4.52 from RM4.80 in light of the enlarged share base and a larger stake in Perdana," it said.

It said Dayang has been slowly accumulating Perdana’s shares during the recent market selldown and currently owns 26.6% of Perdana’s shares.

"On the EPCC bids, we gather from our channel checks that Dayang has been bidding and preparing for an EPCC job related to an enhanced oil recovery off the coast of Sarawak," it said.

Source: The Star
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Re: Dayang

Postby winston » Wed Apr 11, 2018 9:13 am

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Trading Buy: DAYANG-5141
(Last price: RM0.770, Potential upside +19.5%)

Company Profile
• Dayang provides mainly HUC, TMS and OSV services. It is one the biggest established brownfield services provider in Malaysia.

Trading Catalyst
• HLIB has a BUY rating on Dayang with an SOP-derived TP of RM0.91, or 18.2% upside, supported by RM2.8bn orderbook and ~RM6bn tenderbook.
• Expect Dayang to enjoy earnings upcycle (after a sluggish FY17) with a robust 44% FY17-19 EBITDA CAGR premised on higher TMS services and HUC as well as EPCC services contracts amid improving operating climate with renewed activities due to improved oil prices.
• Pending a bullish downtrend line breakout with technical TP at RM0.87-0.92

Technical View
• Resistance: RM0.820 / RM0.870 / RM0.920
• Support: RM0.735 / RM0.725
• Cut loss: RM0.705

Key Financial Stats
• Trading at 0.79x P/B and 10.9x FY19 P/E, supported by robust 44% EBITDA CAGR from FY17-19.

Source: HLIB
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Re: Dayang

Postby winston » Wed Feb 27, 2019 9:46 pm

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DAYANG: when did I start to buy and when will I sell

By Koon Yew Yin

http://koonyewyin.com/2019/02/26/dayang ... ll-i-sell/
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Re: Dayang

Postby winston » Thu Mar 14, 2019 2:24 pm

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PublicInvest cuts call on Dayang to Neutral, raises TP to RM1.25

KUALA LUMPUR: PublicInvest research has raised the target price on Dayang Enterprise Holdings Bhd to RM1.25 from RM1.16 previously while lowering its recommendation to neutral on the lack of upsides.

The research house noted that Dayang's share price has more than doubled from the 80 sen level post-result announcements, and is up 141.5% since PublicInvest first recommended an upgrade.

It said the share price increase is mainly due to the robust performance of the 4QFY18's financial results and anticipation that the trend will continue.

"We err on the side of conservatism however, though we keep forecasts unchanged," it said.

Meanwhile, PublicInvest is positive on the memorandum of understanding between Dayang, PKNM Energy Sdn Bhd and Main Velocity Sdn Bhd for the exploration of oil and gas opportunities in Melaka.

It said it would expand the group's technical capabilities, geographical coverage as well as client portfolio.

However, PublicInvest added that it is unable to determine the impact of the collaboration given the lack of material details provided.

The research house believes Dayang will remain focused on its bread-and-butter businesses, underpinned by a solid orderbook in hand of RM3bil and tenderbook of about RM20bil.

Source: The Star

https://www.thestar.com.my/business/bus ... o-rm1pt25/
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Re: Dayang

Postby winston » Wed Mar 20, 2019 8:25 am

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Dayang: devious tricks to buy at cheaper prices

By Koon Yew Yin

Coming quarter profit announcement

Many people are eager to see Dayang announcement for the next quarter result before end of May 2019. What will be the share price if its profit is higher than the previous quarter?

I have been watching the trading of Dayang almost every minute and I can see how big buyers use their buying technic to buy at cheaper prices.

For example, when they want to buy, say at Rm 1,70 sen they would place 1.2 million shares to sell at Rm 1.71 and 1.5 million shares to sell at Rm 1.72.

By this way they can buy a lot of shares. Big institutional investors are responsible of the daily volume of tens of million shares. I have seen 150 million shares changed hands in 1 day.

Many of my followers have followed me to buy Dayang and a few asked for my opinion on Kenanga’s down grading report which was published yesterday. As a result, many weak shareholders sold causing the price to drop 9 sen per share.

You must bear in mind that the price correction in the last few occasions have been very small. After dropping a few sen it shot up 18 sen on 3 occasions with huge volumes.

Conclusion: Unless the author, editor, directors and Kenanaga Investment Bank can confirm that they do not have Dayang share, I will not believe the published article is not another skilful use of underhand trick to buy Dayang at cheaper prices.

Source: Koon Yew Yin

http://koonyewyin.com/2019/03/19/dayang ... er-prices/
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Re: Dayang

Postby winston » Wed Mar 20, 2019 8:31 am

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Dayang downgraded by Kenanga, Public Bank and Hong Leong

By Koon Yew Yin

As you can see Dayang share price has gone up from 60 sen to Rm 1.71 within 7 weeks because it reported increasing profit in last 3 consecutive quarters.

Its last quarter ending Dec 2018 was 10.13 sen and its coming quarter EPS should be higher than 10.13 sen.

The 3 financial institutions have downgraded Dayang from buy to sell because the price has shot up too rapidly. As a result, the price dropped 24 sen with only 36 million shares changed hands which indicates relatively few people wanted to sell. Of course, some novice shareholders were shocked to see the price dropped like a bomb.

However, all the 3 financial institutions, including Mr Ooi Teik Bee and I agree that Dayang’s profit for 2019 should be better than 2018. If you are a serious long term investors, you just sit tight and do nothing.

Many people have asked the following questions:
1 should they sell tomorrow so that they can buy back at cheaper prices?
2 should they buy some more since it has dropped 24 sen?
3 should they just wait for the announcement of the next quarter result?

It is very difficult for me to give my advice because I cannot be sure that the price will not continue to drop. Moreover, I do not know your financial position and your risk appetite.

If you are not a short-term day trader, my advice is to do nothing and if you have some more buying power, buy some more as soon as the price starts to change from down trend to up trend.

On the other hand, if your average cost is low, you may like to sell some to take some profit and take the chance of buying back at cheaper prices. But you have to take the risk that the price might start to go up at any time tomorrow.

I wish I have a crystal ball to be able to tell you the future.

In fact, I would like all these 3 financial institutions to openly declare if they have Dayang shares and whether they are using this devious trick to buy some more shares at cheaper prices.

Source: Koon Yew Yin

http://koonyewyin.com/2019/03/19/dayang ... ong-leong/
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Re: Dayang

Postby winston » Wed Mar 20, 2019 9:01 am

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Dayang snaps rally after downgrade, short selling suspended

by Joseph Chin

Dayang Enterprise's recent rally to a high of RM1.74 hit a speed bump on Tuesday after Hong Leong Investment Research's downgrade, saw it skidding to a low of RM1.36.

At the close of trade, shares of the oil and gas services provider was down 24 sen to RM1.38 – the lowest close since March 6. It was actively traded with 106.35 million shares.

Dayang's share price had been on the upward trend since Feb 4 when it was trading at 60 sen only.

Tuesday's 24 sen tumble saw RM231.55mil erased as its market capitalisation was reduced to RM1.331bil.

According to Bloomberg, Hong Leong Research downgraded the recommendation to sell from buy.

The price target was raised to RM1.15 from 91 sen, implying a 18% decrease. Dayang's average price target was RM1.23.

Bursa Malaysia had suspended the short selling of the shares earlier in the day aftet the share price fell 15 sen / 15% from the reference price. Short selling will only resume on Wednesday.

Naim Holdings Bhd is the largest sharehilders in Dayang with 26.42% or 254.92 million shares.

At the last traded price of RM1.38, it is trading at a price-to-earnings of 8.12 times while its forward PE is 12.11 times.

Source: The Star

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

Postby winston » Thu Mar 21, 2019 9:03 am

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Koon Yew Yin's Blog

Dayang: Better Profit in 2019 - Koon Yew Yin

Kenanga, Public Bank and Hong Leong, had downgraded Dayang to sell on 19 March. As a result, the price plunged from a peak of Rm 1.71 to close at Rm 1.38. Fortunately, it gained 3 sen yesterday to close at Rm 1.41.

The following is an excerpt of Hong Leong’s article:

Lim said Hong Leong's note today on Dayang followed a meeting with the company. He said the meeting yielded key takeaways on Dayang's contracts and orderbook.

"Current orderbook stands at RM2.9bn including pan Malaysia maintenance, construction and modification (PM-MCM) contracts from different PSCs (production sharing contracts).

Apart from existing contracts, Dayang is expected to receive additional lump sum work orders from clients. We understand there are also some VOs that have been carried out last year. All the VO costs have been recognised last year and its profits will be booked in 1HFY19, pending client approval," Lim said.

Dayang’s last 3 consecutive quarters 2nd, 3rd and 4th quarter EPS were 2 sen, 5 sen and 10.13 sen respectively. In view of the monsoon period is over, secured new contracts and its acceleration of profit growth, its next quarter profit should be better than 10.13 sen.

Based on the excerpt of Hong Leong Mr Lim’s interview with Dayang’s management as shown above, Dayang’s profit for this financial year will be better than last year.

I think the effect of the 3 investment Bank’s downgrade is over and I expect the price will continue to go higher and higher.

Source: i3investor

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

Postby winston » Fri Mar 22, 2019 6:50 am

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By Koon Yew Yin

I use margin finance to buy Dayang at 60 sen per share. As the price goes higher, I could use more margin loan to buy more shares.

As you know, Dayang has been dropping in the last couple of days. If Dayang continues to drop, I will soon have margin call.

The best way to treat margin call is to sell a small amount to meet margin call. If the share price continues to drop, I will continue to sell.

Even if the price dropped by 50 %, I will still have something left because my average cost is about 80 sen per share.

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

Postby winston » Sun Mar 24, 2019 8:10 am

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Dayang: Securities Commission Malaysia investigation - Koon Yew Yin

23 Mar 2019


Dayang:

Securities Commission Malaysia,
No 3, Persiaran Bukit Kiara,
Bukit Kiara, 50490,Kuala Lumpur.

Dear Sir,

On 19 March 2019, Kenanga, Public Bank and Hong Leong Investment Bank published a report to downgraded Dayang to sell. As a result, the share price of Dayang plunged 24 sen from Rm 1.71 to Rm 1.47 and continued to drop to close at Rm 1.33 on Friday 22 March 2019. The price of Dayang has dropped a total of 38 sen or 22% in the last 4 trading days.

I suspect all these 3 financial institutions are ganging up and using this underhand trick to depress the price so that they can buy Dayang at cheaper prices. Like all Dayang's shareholders, I would like the Securities Commission to investigate whether all these 3 financial institutions owned Dayang shares and whether they are taking the advantage of buying more Dayang shares at cheaper prices.

My family members and I have about 30 million Dayang shares and we have lost a huge sum of money.

Yours sincerely,
Koon Yew Yin

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