After the seasonally slow start at the beginning of the year, our second quarter of 2019 has shown marked improvement in chartering activities, resulting in a significant increase in our quarterly revenue (+145% quarter-on-quarter, +32% year-on-year). We are pleased that we have achieved our best second-quarter revenue since 2015 which further reinforces our view that the offshore support vessel market is on the cusp of a sustained recovery. Our vessel utilization rose sharply to 79% during the quarter, as compared to 36% in the first quarter of 2019 and 70% in the second quarter of 2018. Correspondingly, our gross profit for the quarter has fared much better, reflecting the improved underlying operational performance which excludes the impact of any exceptional items in the financial statements. We believe that the business environment in the second half of 2019 will be better given the higher number of vessels that have either been earmarked for Dayang’s offshore maintenance and hook-up contracts with various oil majors where activities are already projected to be ramping higher or on contracted charters with oil majors directly. In addition, we are hopeful that the tightening vessel supply will yield stronger charter rates which will be a boost to our financial performance. We now strongly believe 2019 will be an inflection point for Perdana to turn around the business after weathering various challenges over the past few years. We are confident that our streamlined operations and the synergistic collaboration with Dayang group coupled with the various on-going restructuring and corporate exercises will propel Perdana towards better times and to emerge a stronger company by 2020
Is perdana also doing right issue? So Dayang is doing right issue to raise money for perdana and perdana is doing right issue to pay back money to dayang????
Perdana must complete the Debt restructuring before 31st Dec'19. Meaning there is about 4 months for them to announce the RI. Even though it will be fully subscribed if no other shareholder willing to subscribe, but doesn't it dilute the earning and the saving in interest seems meaningless in this exercise. Can anyone enlighten?
Hi will76,the purpose RCPS to avoid speculation of perdana financial stability and its be offer to Dayang wit 30% disct from 5 days VWAMP..This proposal will complete by 4th quarter 2019.The anouncement on may.If the perdana market price fall below 0.35,then more RCPS unit need to be issues to Dayang for them to achieve 455mil which means Dayang % share will be increase..So,will perdana let the stock price down?
MAHza, interesting point but by your argument, I would say Dayang will then let the stock price down because it is more beneficiary for dayang if the share price is low and Dayang is the major shareholder of Perdana.
Will76 u keep post down down down in all forum...u really mad becoz may be u lost in all stock...u buy high,then panic u sell low..now no money to buy and u envy wit the potential perdana..u should invest car not in stock..
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