[DAYANG ENTERPRISE HOLDINGS BHD：2020年2月上旬，他们又加入了CARIGALI-PTTEPI Operating Company Sdn. Bhd.为Block B-17＆C-19和B-17-01提供为期三年的改建工程，并有两年的延期选择权]

4Q19 vs 4Q18:
该集团在本季度取得了1.197亿令吉的税前利润，而截至2018年12月31日的相应季度的税前利润为1.312亿令吉。

YTD19 vs YTD18：
营业额从去年同期的9亿3760万令吉增加12％至本年度的10.5亿令吉。本年度的收入比上一年更高，主要是由于本年度收到并执行的工作单价值更高。

截至2019年12月31日止年度，达扬企业的毛利从上一年的3.854亿令吉增加29％至4.99亿令吉，这主要是由于本财政年度收到和执行的工单的利润率比上一年更高。达扬企业已因收购新子公司获得议价而有个购买收益1,880万令吉。

4Q19 vs 3Q19：
在本季度，该集团的税前盈利为1.197亿令吉，而上一季度的税前盈利为1.516亿令吉。

前景：
事实证明，2019财年取得了巨大的成功，因为他们在达扬企业悠久的历史中取得了有史以来最好的年度利润。尽管存在外部不确定性和四面八方的不利因素，但它们仍在不断壮大，迈出了重要的里程碑，在2018年表现出色之后，其2019年利润实现了44％的大幅增长。因为他们维持并认真执行了全年的业务计划。

这项出色的成就得益于根据Pan Hook-up and Commissioning合同（Pan HUC）进行的维护，施工和改造合同（MCM）和Topside Maintenance Services工作的强劲工作单。因此，2019年船舶利用率也提高到70％，而2018年为64％。毫不夸张地说，这一良好的积极结果，要归功于公司全体员工的良好团队合作；清晰展示团队合作的最佳状态。

另一个重要方面是2019年下半年，随着工作势头继续强劲增长，发布并执行了更多具有更高价值的工作订单。因此，毫不奇怪，达扬企业有史以来第一次取得超过10亿令吉的年收入。据推测，达扬企业及其子公司Perdana Petroleum的综合实力和协同合作效果很好。

此外，能够在2019年12月从Petronas Carigali赢得两份I-HUC合同的能力再次肯定了其尊敬的客户，尤其是Petronas的信任，信心和支持。在2020年2月上旬，他们又加入了CARIGALI-PTTEPI Operating Company Sdn. Bhd.为Block B-17＆C-19和B-17-01提供为期三年的改建工程，并有两年的延期选择权。这些新合同的补充都使他们的订单增加到估计45亿令吉，可以持续到2023年。这将在未来三年内积极提高其前景和盈利可见度。他们对公司的未来前景保持乐观，因为达扬企业将利用其良好的执行记录来推动业务活动的增长。

在整个集团范围内的债务重组完成之后，达扬企业现在准备着手制定长期增长计划，以使股东的资产结构更加有效，从而进一步实现股东价值的最大化。他们相信，强大的现金流产生和更健康的资产负债表将推动他们迈向更高的高度，因此，他们应该能够奖励在此过程中一直坚定不移的忠实股东。董事会将继续致力于确保集团继续表现卓越，并在公司业务中再创辉煌。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM2.35 (dividend RM0.025) in 1 year 6 months 12 days, total return is 232.2%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM2.02 (dividend RM0.04) in 1 year 7 months 23 days, total return is 159.1%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.44 in 1 year 1 month 4 days, total return is 150.4%

d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM4.01 (adjusted)(dividend RM0.01) in 8 months 22 days, total return is 140.7%

e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.77 in 5 months 30 days, total return is 69.2%

f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.32 (dividends RM0.113) in 1 Year 4 months 17 days, total return is 53%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.63 (dividend RM0.105) in 1 Year 3 months 6 days, total return is 36.6%

h) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.21 in 7 months 25 days, total return is 34.4%

i) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 (dividend RM0.018) in 1 Year 2 months 1 day, total return is 33.5%

j) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.05 (dividend RM0.015) in 1 Year 2 months 8 days, total return is 33.1%

我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：

预计公司每年的增长率必须> 14％

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人，可以通过jamesngshare@gmail.com 或我的FB页面与我联系。

1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

3月21日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心

3月29日星期日：Hotel Sri Petaling, KL 3份点心

4月19日星期日：AG Hotel Penang, George Town 2份点心

2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐

3月22日星期日：Silka Johor Bahru Hotel, Johor Bahru

3月28日星期六：Hotel Sri Petaling, KL

4月18日星期六：AG Hotel Penang, George Town

有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
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这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。

James Ng
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[DAYANG ENTERPRISE HOLDINGS BHD: In early Feb 2020, they 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]

4Q19 vs 4Q18:
The group made a profit before tax of RM119.7 million for the current quarter as compared to profit before tax of RM131.2 million in the corresponding quarter ended 31 December 2018.

YTD19 vs YTD18:
Revenue increased by 12% from RM937.6 million in the previous corresponding year-to-date to RM1.05 billion in the current year-to-date. The higher revenue in the current year as compared to the preceding year is mainly due to higher value of work order received and performed in the current year.

The Group’s gross profit has increased by 29% from RM385.4 million in the preceding year to RM499 million for the current year ended 31 December 2019 mainly due higher profit margin on work orders received and performed during the current financial year as compared to the preceding year. The Group has accounted for a gain on bargain purchase of RM18.8 million arising from the acquisition of a new subsidiary.

4Q19 vs 3Q19:
In the current quarter the Group made a profit before tax of RM119.7 million as compared to a profit before tax of RM151.6 million in the preceding quarter.

Prospects:
Financial year 2019 has indeed turned out to be a great success as they achieved the best ever annual profits in the long history of Dayang. In spite of the external uncertainties and multiple headwinds from all directions, they have grown from strength to strength to hit the significant milestone, registering a massive 44% growth for their 2019 profits after a stellar performance in 2018. The strong growth momentum has been envisaged as they maintained and carefully executed their business plan throughout the year.

This remarkable achievement comes on the back of the robust work orders for the Maintenance, Construction and Modifications Contract (MCM) and Topside Maintenance Services works under the Pan Hook-up and Commissioning Contract (Pan HUC). Consequently, vessel utilisation also came in stronger at 70% for 2019, as compared to 64% in 2018. Without exaggeration, this set of strong positive result was achieved thanks to essentially a good team work from every member of the company’s work force; a clear display of team work working at its best and teamwork working at its finest.

Another important aspect was in the second half of 2019, more work orders with higher values were issued and executed as job momentum continued to pick up strongly. Therefore not surprisingly, for the very first time in their long history, Dayang Group is able to achieve their annual revenue exceeding the RM1 billion mark. Presumably, the combined strength and the synergistic collaboration between Dayang and its subsidiary, Perdana Petroleum is working well.

Further, the ability to win two I-HUC contracts in December 2019 from Petronas Carigali reaffirmed the trust, confidence and support of their esteemed clients, especially Petronas. In early Feb 2020, they 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 has increased their order book to an estimated RM4.5 billion to last them until 2023. This will positively enhance their prospects and earnings visibility over the next three years. They 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 their more efficient capital structure. They are confident that their strong cash flow generation and healthier balance sheet will propel them to greater heights going forward and they should therefore be able to reward their faithful shareholders who have remained steadfast with them 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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I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page.

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng