Dayang to leverage on its track record

Dayang Enterprise Holdings Bhd believes it will be one of the main beneficiaries for additional activities in the space of maintenance, construction and modification (MCM) and hook-up and commissioning (HUC) by leveraging on its strong execution track record.

In a filing with Bursa Malaysia yesterday, the oil and gas company said it will remain prudent in managing business affairs while continuing to deliver outstanding performance.

“We are now in the midst of the monsoon season. For the safety of our vessels and our personnel, the expectation is that activities relating to our nature of work in the form of MCM and HUC, is lower.

“In this fourth quarter, most of our resources are in the midst of demobilisation and in preparation for 2023.”

For its third quarter ended Sept 30, 2022, Dayang’s net profit rose to Rm52.90mil from Rm18.98mil in the previous corresponding period, while revenue improved to Rm338.34mil, compared with Rm223.84mil a year earlier. Basic earnings per share stood at 4.57 sen versus 1.64 sen a year earlier.

For the nine-month period ended Sept 30, 2022, Dayang reported a net profit of Rm108.68mil compared with a net loss of Rm30.45mil in the previous corresponding period, while revenue grew to Rm761.89mil from Rm467.58mil a year earlier.