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Koon Yew Yin's Blog

Author: Koon Yew Yin   |   Latest post: Sat, 4 Jul 2020, 10:50 AM

 

Dayang's Profit Growth Prospect - Koon Yew Yin

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I have extracted and summarised the company’s announcements as follows:   

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. This will positively enhance our prospects and earnings visibility over the next three years. 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.

 

After the completion of the group-wide debt restructuring, Dayang is now ready to embark on long-term growth plans to further maximise shareholder value given our more efficient capital structure. We are confident that our strong cash flow generation and healthier balance sheet will propel us to greater heights going forward and we should therefore be able to reward our faithful shareholders who have remained 

steadfast with us throughout this journey.

 

The Board remains committed in ensuring the Group continues to excel and to deliver yet another distinctive set of good result in the company’s business.

 

 

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Labels: DAYANG

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