TP 1.06

NVESTMENT HIGHLIGHTS

Dayang Enterprise clinched PM-MCM from Murphy Sarawak and Murphy Sabah
Campaign period for 2018-2023 with one year extension option
Contract is on call-out basis estimated to be between RM1-2b
Reiterate BUY with unchanged target price of RM1.06 per share
PAN-MCM. Dayang Enterprise announced that it has secured a Pan Malaysia Maintenance Construction and Modification (PM-MCM) contract from Murphy Sarawak Oil Co Ltd and Murphy Sabah Oil Co Ltd for the campaign period of 2018-2023. The contract period is effective from 17 July 2018 and shall expire on 16 July 2023 with an option to extend for a period of one year.

Current jobs at hand. Activity levels for the Maintenance, Construction and Modifications Contract (MCM) and Topside Maintenance Services works under the Pan Hook-up and Commissioning Contract (Pan HUC) has improved in 1QFY18 despite the typical cyclical monsoon months and will continue to improve into 3QFY18. The company's current orderbook, inclusive of this new win stands at approximately RM2.5-3b lasting through to 2023.

Tenderbook. The company has participated in approximately RM8b worth of projects, in particular the Pan MCM tenders. The company remains fairly confident of winning a portion given its track record and successful campaigns in similar projects.

Dayang’s forte. Dayang is no stranger to maintenance, construction and modification (MCM) works as it was the incumbent for the previous HUC contracts from 2013, and more recently the winner of the MCM from Petronas Carigali. Currently, Dayang on its own has: (i) 6 work vessels and; (ii) 2 supply boats with an average age of approximately 6.5 years old. All of which are fit for purpose, within the stringent specifications required by Petronas and its production sharing contractors.

Earnings upcycle to start in 2QFY18. From the offshore activity levels that are currently taking place, we believe that the earnings upcycle for Dayang could start as early as 2QFY18.

Source: MIDF Research - 30 Jul 2018

Ppl play ur mind to make u sell low

Big operators do big queue to sell??

???

????

Don't b too affect by q418 result

Sabah psc hit 25-35m in q418 good indicate 2019 pat rm 300m is on d way

Bt d one to watch is year 2019

For 2019

Anasuria rm 75m per year

Sabah psc rm 225m per year

Test 4 for u Dericlock

Hw many bbl must Sabah PSC produce to get rm225 at oil price us 75 per bbl?

Hw to read 4q18 result?

Anasuria

Rm 15m meet expectation

Sabah psc

Rm 25m base case
Rm 35m wit incease in production
Rm 50m wit very good ramp up in production

Operators back

IB'S 2019 EPS from 0.15 to 0.21

PE 10X 1.5 to 2.1

PE 15X 2.25 to 3.15

TP by some from Batam 3.30 +1100% gain since day one not impossible

Thing abt slow bloomer once it start it is goin to b fireworks n it is goin to last

-tive goodwill is Hibiscus's share of profit d PSC made in d 15 mths

U come Balakong I dare u

No u come Balakong police station I wait u knn

Not 0 la recovered in 1 year la PE 1x la

Dapking

D path to God is straight n narrow

U who posted tis wil go to see Him first St Peter waiting for u


Posted by Dapking > Jul 29, 2018 04:59 PM | Report Abuse

Hope everyone here swear on you OrlandoOil and soon you loose in your life...

I do ur mother 3 thousand times alex a boy

I curse u death by a thousand stabs Dapking

Kikiki

I hv seen d note 17

Get it from me, man

Its is jz US 25m tat time = RM 90.106m

Knn jayc u stupid ah u nvr read note 7 of last qtr report ? US 25m tat time = RM 90.106m

Hibiscus paid only RM 90.106m for Sabah EOR PSC stupid or eye got problems?

http://klse.i3investor.com/blogs/icon8888/161804.jsp

In October 2016, Hibiscus announced that it was acquiring 50% equity interest in North Sabah Production Sharing Contract ("North Sabah PSC") for an extremely cheap price of RM200 mil. The vendor was Shell. Petronas holds the remaining 50% interest. The acquisition was completed recently on 31 March 2018.


...an extremely cheap price of RM200 mil.

RM 200m is extremely cheap price d??

Well good news for u RM200m is a mistake d price is actually US 25m or RM 90.106m

RM 90.106m thn is extremely extremely extremely extremely cheap price

Hibiscus actually bot d 50% participation interest at PE 1

Dear Anasuria is profitable on her own right

Sabah EOR PSC alone can gv 0.17 EPS 10x PE 1.70 15x 2.55

Singapore DBS say TP at 1.46 at oil price 60

Some from Batam says TP higher 3.30 +1100% gain since day one

Singapore DBS say TP at 1.46 at oil price 60

Some from Batam says TP higher 3.30 +1000% gain since day one

Good sign a positive lead to coming good QR

Knn wat? Profit too good to b true? Nid confirmation by lookin at qr is it? By thn hopefully not too late

If takin 5500 bpd as profit oil

Still tis part not clear

Bt wit 1,588,000,000 shares difference in EPS not big

Sabah PSC EPS 0.17

If takin 5500 bpd as profit oil

Profit oil = 5,500×90×78×4×4=617,760,000

Net of 38% PITA = 383,011,200

Net of 30,000,000 admin = 353,011,200

PAT @ 24% tax = 268,288,512

See 0.935 Take it from me

Disappointment all around

Take it from me

It is abt time to fly high

Test 3 for u Dericlock

D 5500+ bblp shown in qr is cost oil plus profit oil or jz profit oil?

Get it from me man

Core PAT RM 165m is minimum

RM 45m from d rest

Sabah PSC minimum RM 120m

EPS 10 sen is base case with upside bias due higher oil prices and usd

PE 15 is 1.50

A young widow was overheard telling a young man who is about to get married

"Get it from me, man, don't get married"


HaHa tis is d kind of joke I like u got it or not?

2. North Sabah : 586,658 bbl x 80 usd/bbl x 4 Usd/Myr = 188 million
(North sabah been producing at really good uptime, hence this quarter should will unload twice as like in Q4 2017, Assuming labuan crude trading at premium price of 5 dollar)


1. Cost of sales for North Sabah = 12.47USD/bbl x 5674bbl/day x 92 day x 4 USD/MYR = 26 million
(Assuming same opex like Q1, same production uptime)


188 - 26 is 162 Huat!!

Bt think not right too good

Yes it is a chg in federal dealing wit state policy nothing to do wit existing individual PSC contract

North Sabah PSC cost has to b halved else cancelled??

Test 2 for u Dericlock

Hw Hibiscus reports its costs n cost revovery in its financial statements?

1 test for u Dericlock

North sabah total production 160000 bpd assume correct

So all 160000 bpd wil show up as Hibiscus's revenue or jz 5500?

Ladies and gentlemen

Let's Get Readyyyyyyyy To Rumble!

Tis time whn hit 1.00 wil stay good qrr results out soon

Singapore DBS say TP at 1.46 at oil price 60

Some from Batam says TP higher 3.30 +1000% gain since day one

Wld d coming qtr b good? Yes Wld future qtrs b better? Yes

Oil price remain high for Dayang

khatulistiwa1234 well said cannot b more precise

If u like tis can go buy Dayang

Dayang wil b getting somw cheap cheap OSV from Perdana under similar scheme

Hv manage to make money fr tis co Price was pushed up for pp but sadly.....

Ok ok b fair ok co got hit hard by effects of oil price collapse tat linger

Thr shd b hair cut on loans from banks n longer time to repay too

Price so low not going bankruptcy is good news haha

Lousy company