Why I used this title from the Bible for this article?

The actual quote, from the King James Bible is: "And ye shall know the truth, and the truth shall make you free". This is said to be a direct quote from Jesus, as relayed to us in
John 8:32.

I am not afraid to write so many buy recommendations in spite of so many disbelievers. In fact, Public Investment Bank, Kenanga and Hong Leong Investment bank have published articles to down grade it. Why? Why? Why?

The average daily traded volume is more than 10 million shares. Yesterday the total shares traded was more than 13 million shares to push up the price by 10 sen. Only financial institutions have so much money to buy Dayang so aggressively.   

Now the truth has set me free.

Dayang has very good profit growth prospect

Both its profit and revenue are increasing steadily.

1^st quarter eps -0.43 sen, revenue Rm 156 million

2^nd quarter eps 5.71 sen, revenue Rm 247 million

3^rd quarter eps 11.10 sen, revenue Rm 357 million

Dayang has very good profit growth prospect which is the most power catalyst to move share price higher and higher. As I have been buying so much of Dayang, I wanted to find another stock to diversify but in vain.

Carimin and Uzma are dead ducks

As recommended by Ooi Teik Bee, I bought some Carimin and Uzma. Unfortunately, I lost some money because these 2 stocks are dead ducks.   

I have written more buy recommendations for Dayang than any other stock in my life. Unfortunately, many investors including Ooi Teik Bee, do not believe me. At the beginning, there were more critics and gradually the number of critics is reducing. As the share price continues to rise higher and higher as shown on the chart below, I am beginning to see a few investors singing praises of me.

The price went up from Rm 50 sen to close at Rm 2.26 today. It went up more than 400% within 1 year as shown on the chart below. Yesterday, the price went up by 10 sen. The truth has set me free!  

As long as there is oil and even if oil price were to drop drastically, Petronas will still continue to pump oil because Petronas has already paid for the cost of the oil rigs.

From google you can see that the average cost of an off shore oil rig is US $ 650 million. Petronas pumps up an average of about 90,000 barrels of oil per day and the current oil price is US $ 58 per barrel. That means Petronas annual income is 90,000 X US $ 58 X 300 days = US$ 1,566 million.

Each oil rig is like a floating city which needs constant servicing and maintenance. Since Dayang is the biggest maintenance contractor in this region, Petronas has been awarding several billion ringgits contracts to Dayang every year.

What the company said

I reproduce what the company said together with its filing to Bursa Malaysia quote “The company posted its best quarterly earnings ever on higher work order and increased vessel utilisation rate.

Net profit in the third quarter ended Sept 30 was more than doubled at RM107mil compared with RM48.7mil a year ago.

Revenue was up 27% to RM357.6mil.

"We are particularly excited with the higher work orders procured throughout the quarter as the job momentum has picked up significantly in the second half of 2019," the company said in a filing with Bursa Malaysia today.

Nine-month swelled to RM158mil, or 16.38 sen a share.

"More importantly, our profit in the first nine months of financial year 2019 has already surpassed that of the full year profit of financial year 2018. This will certainly pave the way for a strong financial year ending 2019," it said.

The company's strong performance year-to-date was driven by robust work orders for the maintenance, construction and modifications (MCM) contract, as well as topside maintenance services works under the Pan Hook-up and Commissioning Contract.

Consequently, vessel utilisation at subsidiary Perdana Petroleum Bhd also came in much stronger at 91%, as compared to 79% in the second quarter and 36% in the first quarter.

"Barring any unforeseen circumstances, we are optimistic that the strong earnings trend will be sustainable, premised on our large order book, estimated at RM2.5bil, implying clear earnings visibility over the next three years," Dayang said.

In August 2019, Dayang has obtained a new 15-month HUC contract from Petronas Carigali.

Meanwhile, Dayang said its group-wide debt restructuring will be completed by the first quarter of 2020. "Post-restructuring, Dayang will emerge stronger with optimal capital structure which will stand the group in good stead amid the