As long as there is oil, Petronas will continue to pump because Petronas has already paid for the cost of the oil rigs and awarded more maintenance contracts to Dayang. Among the few oil rig maintenance contractors, Dayang is the biggest and the most efficient in this region.  

My wife and I have about 35 million Dayang shares. I do not need you to buy to push up the share price to make us richer because the daily volume traded is several millions. Whether you buy or sell, your trading will not affect the share price. There must be many institutional investors buying and selling every day.

My intention for writing this article is sincere and honours. As I said, whether you buy or sell will not affect the share price. As long as there is oil, Petronas will continue to pump because Petronas has already paid for the cost of the oil rigs and awarded more maintenance contracts to Dayang.

I have more than 50 years’ experience in doing business and searching for good shares to buy. Very seldom I can find one with long term profit growth prospect as good as Dayang.

From Google I found that Malaysia started oil exploration activities in shallow waters in the 1970s and started active extraction and production in the 1980s till today. There are currently over 900 offshore platforms of which almost 600 of them are over 20 years old.

Based on these, you can be sure that Dayang will continue to secure more and more oil rig maintenance contracts for many more years to come.

I cannot find another stock that complies with my share selection golden rule of 2 consecutive quarters of increasing profit. Dayang 1^st quarter EPS – 0.47 sen, 2 quarter EPS 5.7 sen and 3^rd quarter EPS 11.1 sen. It is safe to assume its 4^th   quarter EPS is the same as its 3^rd quarter of 11.1 sen. Its annual EPS will be 27.5 sen. Assuming it deserves to sell at P/E 12 the minimum price should be Rm 3.30 per share.

I am very confident its profit for next year will be more than this year because the company has already resolved its financial constrain by its recent right issues.

If you have found another stock with similar profit growth prospect as Dayang, please recommend it to me and my email address is yewyin33@gmail.com.