Posted by 8u29song > 2022-11-19 07:20 | Report Abuse

goooood...

Posted by hng33 > 2022-11-21 10:00 | Report Abuse

took profit at 1.28

Posted by hng33 > 2022-11-21 11:46 | Report Abuse

took balance profit at 1.30-1.32

Posted by Paul5838 > 2022-11-21 13:17 | Report Abuse

Today Kenanga raised target price to Rm 1.70!

Posted by Paul5838 > 2022-11-21 13:21 | Report Abuse

Dayang Enterprise Holdings - How Dayang Got Its Groove Back
Date:
2022-11-21
Firm:
KENANGA
Stock:
DAYANG
Price Target:
1.70
Price Call:
BUY
Last Price:
1.34
Upside/Downside:
+0.36 (26.87%)
DAYANG’s 9MFY22 results blew expectations away, thanks to higher work orders at its offshore maintenance coupled with stronger vessel utilisation. Looking ahead, we expect call-ups on work orders to escalate in tandem with the overall recovery in activity levels. We raise our FY22F/FY23F earnings by 36%/28%, lift our TP by 31% to RM1.70 (from RM1.30) and maintain our OUTPERFORM call.

Earnings well exceeded expectations. DAYANG’s 9MFY22 core net profit of RM111m blew expectations away. The number already surpassed our full-year forecast by 28%, and the full-year consensus estimates by 20%. The variance against our forecast came largely from higher work orders at its offshore topside maintenance (TMS), as well as strong vessel utilisation at its marine charter division.

Strongest set of earnings since the pandemic. 9MFY22 saw a YoY turnaround from losses, driven by the resurgence of demand for its offshore TMS work orders, while vessel utilisation for its marine charter has also surged up to 57%, versus 46% last year.

Outlook continues improving. While we may see seasonally weaker earnings for the upcoming two quarters due to the monsoon, we believe overall outlook for 2023 will continue improving from this year – premised on increasing demand for work orders leading to possible rate revisions, with activities likely to continue at an elevated level. This is further backed by DAYANG’s current order book of RM1.6b, which should provide ~2 years of revenue visibility.

Forecasts. Post results, we raise our FY22F/FY23F earnings by 36%/28%, to account for the stronger work orders from offshore TMS, as well as the stronger vessel utilisation for its marine charter.

Maintain OUTPERFORM. Following the earnings upgrade, our TP is also raised to RM1.70 (from RM1.30 previously), pegged to 15x PER on FY23F EPS, which is at a 25% discount versus the average valuation of offshore maintenance peers back in 2014 (being the last year in which Brent crude was trading above USD100/barrel, prior to the recent rally). A discount is applied versus valuations from the previous oil upcycle due to current business climate being much more demanding as clients currently are much more prudent in spending unlike the yesteryears. There is no change to our TP based on its 3- star ESG rating as appraised by us (see Page 4).

Overall, we like DAYANG given: (i) it is a beneficiary of the rising demand for offshore maintenance works in the coming few years, as guided in Petronas’ Activity Outlook, (ii) its market leading position within the offshore maintenance space with the highest market share as competitors are thinning out, and (iii) its improving balance sheet which is expected to turn into a net-cash position in the coming 1-2 years.

Risks to our call include: (i) a sharp decline in oil demand and prices if the global economy slips into a recession, (ii) non-renewal of licenses issued by oil majors, and (iii) the entrance of aggressive new players.

Source: Kenanga Research - 21 Nov 2022

Posted by Vicky > 2022-11-21 16:12 | Report Abuse

aiyoo...oil turun harga...risky...lerrr

Posted by MoneyMakers > 2022-11-21 20:08 | Report Abuse

Strongest oil ctr..love it

Posted by Vicky > 2022-11-21 22:36 | Report Abuse

aiyooo...oil sell down again. naik only temporary saja. cannot sustain

Posted by Vicky > 2022-11-24 08:06 | Report Abuse

Yup...oil will be below USD80 per barrel soon.

Posted by Vicky > 2022-11-28 10:16 | Report Abuse

Recession will reach to USD 50 per barrel.

Posted by MoneyMakers > 2022-12-01 23:31 | Report Abuse

Keep scaring ownself with nonsense (miss boat) while we keep printing money

Posted by fooming > 2022-12-05 11:11 | Report Abuse

CNBC in an interview that Goldman plans to "stick to our guns" with a forecast for $110-a-barrel Brent. That represents more than 30% upside from the current level of around $83.

Posted by goldmans > 2022-12-05 13:23 | Report Abuse

More to come

Posted by MoneyMakers > 2022-12-05 17:17 |

Post removed.Why?

Posted by Vicky > 2022-12-07 06:30 | Report Abuse

Oil colapse below USD80 as predicted. More bad news to come especially towards 2023

Posted by maxprofit2020 > 2022-12-07 09:35 | Report Abuse

EPF keep disposing dayang

Posted by maxprofit2020 > 2022-12-07 09:43 | Report Abuse

oil counters all panic selling this morning

Posted by Vicky > 2022-12-07 18:43 | Report Abuse

Guys...recession is inevitable. So oil is destined to collapse

Posted by MoneyMakers > 2022-12-07 20:25 | Report Abuse

Healthy correction after strong rally

Current oil level still fundamentally strong 4 capex/project

Posted by Vicky > 2022-12-08 04:54 | Report Abuse

Oil collapse further today....

Posted by Vicky > 2022-12-08 05:39 | Report Abuse

EPF is always smart and first to unload

Posted by steven rt > 2022-12-08 21:01 | Report Abuse

Is EPF selling is done or will continue. It's holding is below 5%

Posted by MoneyMakers > 2022-12-12 14:25 | Report Abuse

U’oll actually got buy the dip or 4ever just watch others make money kikiki

Posted by 8u29song > 2022-12-13 16:25 | Report Abuse

yes.....gogogo...

Posted by steven rt > 2022-12-13 17:36 | Report Abuse

On 7th December EPF sold down to below 5% and then started buying & now it's a substantial holder 5.36% (as of today). What's the game? Any reading on this?

Posted by fooming > 2022-12-14 11:59 | Report Abuse

Dayang has been awarded a contract amendment and extension to provide offshore maintenance, construction and modification services from Petronas Carigali Sdn Bhd from Sept 20, 2022 to Dec 31, 2023.

Posted by fooming > 2022-12-14 12:00 | Report Abuse

It did not disclose the value of the contract, clinched via its wholly-owned subsidiary Dayang Enterprise Sdn Bhd, as it is based on work orders issued by Petronas Carigali throughout the extended contract duration

Posted by MoneyMakers > 2022-12-14 13:44 |

Post removed.Why?

Posted by Joker68 > 2022-12-17 13:57 | Report Abuse

Short term trading. EPF can do the same as what retailer is doing too.

Posted by Baby Shark > 2022-12-21 12:08 | Report Abuse

You think can go up RM3 again.. tan ku ku

Posted by joyvest > 2022-12-27 16:48 | Report Abuse

What is the hell is going on ?

Posted by Mikecyc > 2023-01-11 22:59 |

Post removed.Why?

Posted by Mikecyc > 2023-01-11 23:15 |

Post removed.Why?

Posted by Mikecyc > 2023-01-11 23:16 |

Post removed.Why?

Posted by Mikecyc > 2023-01-16 06:50 |

Post removed.Why?

Posted by Mikecyc > 2023-01-16 06:51 |

Post removed.Why?

Posted by Mikecyc > 2023-01-16 17:58 |

Post removed.Why?

Posted by Mikecyc > 2023-01-16 18:02 |

Post removed.Why?

Posted by MoneyMakers > 2023-02-10 17:10 | Report Abuse

Another strong week - many IB top pick (Petronas proj)

Dont doubt oil/oil stock this yr

Posted by MoneyMakers > 2023-02-16 18:02 | Report Abuse

Nice another 1.5sen div yummmyy

Posted by kmohan62 > 2023-02-16 20:35 | Report Abuse

Most likely will drop as a knee jerk reaction...nevertheless slow and steady buying momentum will lift price and the uptrend will continue...

Posted by MoneyMakers > 2023-02-16 20:52 | Report Abuse

1.5sen div + capital appreciation (only 1.25 2months ago) ofcos yummy lo

Jokers oil crash blablabla just continue stay sideline

Posted by I_like_dividend > 2023-02-17 04:32 | Report Abuse

Dayang RM 1.55 despite EPS 1.34 sen worse than Penergy last qtr 7.57 sen EPS. Dayang dividend 1.5 sen vs Penergy 2 sen.

Posted by I_like_dividend > 2023-02-17 04:33 | Report Abuse

Penergy far cheaper so uncle KYY has right choice of purchase?

Posted by kingJ > 2023-02-17 09:55 | Report Abuse

Fund managers giving higher TP

Posted by I_like_dividend > 2023-02-17 10:09 | Report Abuse

After PRN 6 states if PH lose Anwar pls resign.

Posted by Baby Shark > 2023-03-01 11:09 | Report Abuse

Oil very expensive d.. time to sell
Further, there 2,000 counters all very cheap

Posted by 8u29song > 2023-03-07 10:47 | Report Abuse

:-))

Posted by Investor M > 2023-03-10 12:10 | Report Abuse

What happened to Dayang. Has been on the down trend for the past few days

Posted by Vicky > 2023-03-13 21:33 | Report Abuse

Oil collapse today. Sayorana !