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Overview
Financial Highlight
Headlines
Business Background Daya Materials Bhd is a service provider to oil and gas sector where it caters to both upstream and downstream sectors of the company. The company has also interests in other sectors like engineering and construction, heating, ventilation and air conditioning, and specialized polymers. The upstream oil and gas services provided by the company are subsea engineering services, subsurface services, and chartering of marine assets. The downstream services include the supply of downstream chemicals, tanking, storage and warehousing, mobile cranes and specialized lifting, facility upgrades and maintenance. The technical services provided are a fabrication of steel structures, engineering, procurement, and construction, and turnkey construction. The firm also provides services in polymer sector.
  bigman888 i just leave it my few million shares...see how it perform... since i considered the money was wrote off... 04/01/2021 2:07 PM freddiehero keep blocking 0.02? sold all till 0.005 la.. let's see... I q 0.005 is OK babe.... 04/01/2021 3:05 PM elifen i bought 0.02 two weeks ago and cut lost this morning at 0.015. I am not sure i had made the right decision or not. my calculation is like this. let say we buy 100 lot at 0.02 means invested RM 2000. after consolidated 100 to 1 means we are holding only 1 lot of share. that means new share shall price at RM 2.00. Possible ? 04/01/2021 10:09 PM elifen No point to buy also if drop to 0.005. for 100 lot you invest RM500. after consolidated you hold 1 share. means new share shall price at RM 0.50. not easy, right ? 04/01/2021 10:14 PM elifen i can feel that the existing major share holder don't have intention to rescue this company and let it died by itself (delisting). Is just someone make use of this company to do backdoor listing. supposedly he don't have to pay any amount to take over this company. i guessed 100 to 1 means he honoured the existing share holder with 1% on the paper value of 0.005. Probably i am wrong. This morning i also queue 1000 lot at 0.005. i am not sure should i continue to queue at 0.005 or not 04/01/2021 10:30 PM freddiehero just pray for fortune luck will give me 0.10 at least come come babe... 04/01/2021 10:34 PM freddiehero 1 thing in my brain, with this company with subsidiaries over 15, if rili bankrupt or close shop, many ppl r losing job. tats the things mKe me confidence it will coming back.. 04/01/2021 10:43 PM elifen No one can predict. the news came out on 31/12/2020. supposedly today big dive but surprisingly it still holding at 0.015 and some more hit 0.02 daily high. 04/01/2021 10:46 PM elifen I just got to know this forum last week after searching for some company info on google. Be frank i bought this counter after read your comment. 04/01/2021 11:04 PM freddiehero big roadblock price 0.02, keep controlling 0.015-0.02 not allow for goreng, if drop fast backup back... 04/01/2021 11:08 PM Jolly Read news DAYA is going to do restructuring plan n out fm PN7 . Anyone can provide more info ? Tqvm 06/01/2021 11:07 PM freddiehero PROPOSED DISPOSAL BY DAYA CMT SDN BHD, A 51%-OWNED SUBSIDIARY OF DAYA MATERIALS BERHAD, OF A PARCEL OF LEASEHOLD LAND HELD UNDER PAJAKAN NEGERI 2864, LOT 8071, MUKIM 12, DISTRICT OF BARAT DAYA, STATE OF PULAU PINANG TOGETHER WITH INDUSTRIAL PREMISES COMPRISING A DOUBLE-STOREY OFFICE BUILDING WITH AN ANNEXED SINGLE STOREY DETACHED FACTORY, A SINGLE-STOREY WAREHOUSE WITH AN ANNEXED DOUBLESTOREY DETACHED OFFICE BUILDING AND OTHER ANCILLARY BUILDINGS ERECTED THEREON TO WANJUN ENGINEERING SDN BHD FOR A CASH CONSIDERATION OF RM10,328,000 ("PROPOSED DISPOSAL") 08/01/2021 10:50 PM 651158 Now supply oil material and contraction material , oil tanking up , chemical all up 11/01/2021 11:39 AM freddiehero 15 JAN 2020. LETTER OF AWARDS BY SING FOONG NIAP ENGINEERING SDN
BHD (“SFNESB”) TO DAYA CMT SDN BHD (“DCMT”), A 51.0%- OWNED SUBSIDIARY OF THE COMPANY, AS SUB-CONTRACTOR IN RELATION TO THE PROPOSED CONSTRUCTION OF A RECYCLE PULP AND PACKAGING PAPER PLANT ON LOT 71922 (PT 41097) AND 10534 (PT 473), MAHKOTA INDUSTRIAL PARK, BANTING, MUKIM TANJUNG DUA BELAS, KUALA LANGAT, SELANGOR DARUL EHSAN. 15/01/2021 6:33 PM Woodswater https://www.theedgemarkets.com/article/daya-materials-unit-bags-rm24m-construction-job Congrats to those who has faith, guts, testis as well Wakakakaka 16/01/2021 9:42 AM Woodswater https://www.klsescreener.com/v2/news/view/778879/no-construction-during-mco-works-ministry Daya needs some patience ---------------------------------------------------------------------- freddiehero still sleep well? 12/01/2021 10:54 PM 16/01/2021 12:04 PM freddiehero KUALA LUMPUR (Jan 15): Construction work needs to be stopped during the Movement Control Order (MCO) period in the states involved, according to the Works Ministry. However, exemptions will be given for work on the list of essential services including maintenance and critical repairs such as slope and road repairs; construction of major public infrastructure as well as building construction for projects that provide complete accommodation of workers on construction sites or Centralised Labour Quarters. In addition, there will be exemptions for the operation of professional services/consultants as well as other services within the supply chain such as supply of building materials and delivery of materials, limited to construction sites approved for operation. According to the Frequently Asked Questions (FAQ) on the MCO issued by the ministry, all operating permits must be obtained from the International Trade and Industry Ministry (MITI) through MITI's Covid-19 Intelligent Management System (CIMS) portal. Employers must also stick to the operating hours set by local authorities. In the meantime, the ministry stressed that construction workers are not allowed to move from one construction site to another, apart from the fact that they need to bring a valid employee pass or employer's authorisation letter and MITI CIMS operation approval letter for any movement. 16/01/2021 12:31 PM freddiehero 4. RATIONALE AND BENEFITS OF THE PROPOSED DISPOSAL
The financial difficulties faced by our Group began with the downturn in the global oil and gas industry since 2014 and the corresponding reduction in expenditure in the exploration, development and production of oil and natural gas by oil majors, along with the deferment of projects. The prolonged reduction in oil and gas activities led to oversupply in the offshore support services segment, in which our Group operated, and adversely affecting demand for our Group’s services. This resulted in the assets of our Group being either left idle or under- utilised, leading to impairment loss and write-downs in the value of these assets. As a result of the financial deterioration, financing arrangements available to our Group have become more restrictive, which has led to further challenges for our Group in managing and supporting our business operations. The financial difficulties were also exacerbated by ongoing litigations with our Group’s contractors in our technical services segment, leading to further impairments of receivables, and causing our Company to lapse into Practice Note 17 status on 28 February 2018 when our shareholders’ equity on a consolidated basis fell below RM40.0 million and represented less than 25% of our issued share capital based on our unaudited consolidated financial statements for the financial year ended 31 December 2017. Our Company is thus required to submit a regularisation plan to the relevant authorities by 28 February 2018 and we were subsequently granted an extension of time up to 27 February 2021 to submit the regularisation plan to the relevant authorities for approval. To that end, we have been in active discussions with our advisers to restructure our debts and liabilities, and negotiate with lenders and creditors on a debt restructuring scheme, which culminated in the announcement of the Proposed Regularisation Plan on 31 December 2020. In parallel with the steps taken above, our Group has been exploring options to monetise assets in order to improve our liquidity position. The Proposed Disposal will allow the DCMT Group to raise the much needed funds for its working capital requirements, albeit limited, to tide over its cash flow crunch in the interim, as well as to reduce our bank borrowings. The proceeds from the Proposed Disposal will also provide the DCMT Group with working capital to sustain its business operations, which our management has identified to be viable and will form part of the core business of our restructured Newco group under the Proposed Regularisation Plan. In addition, the Disposal Consideration also represents an attractive premium over the market value and latest audited NBV of the Property, which would enhance the earnings of our Group with an estimated net gain on disposal attributable to owners of our Company of approximately RM3.7 million. 26/01/2021 11:19 PM  | |
