My purpose of writing this piece is not to satisfy my own ego or to encourage you to buy Dayang to make me richer because the daily volume is more than 10 million shares change hands and whether you buy or sell will not make any difference. My intention is honorable. I just want to share my knowledge with you.
I am sure many shareholders should be interested to know what is Dayang’s expertise and why so many rich investors are chasing to buy more shares. As a result, the share price has been going up higher and higher. It made a new high at Rm 1.65 per share as shown on the price chart below.
Before I used to see many braggarts boasting their sale but currently, I see less braggarts on i3investor boasting their sale because they realise their mistake. They cannot buy back at cheaper prices.
Unfortunately, egoistic investors who have sold their holdings will not admit their mistake. I am sure they are regretting that they cannot buy back at lower prices. The longer they delay, the higher price they have to pay.
Dayang is the largest maintenance contractor in this region where Petronas has discovered a total of 163 oil fields and 216 gas fields.
Core business: One of the earliest and most experienced providers of integrated services to the oil and gas industry, Dayang is involved in the provision of maintenance services, fabrication operations, hook-up and commissioning and chartering of marine vessels.
Strength: Since its inception more than 25 years ago, Dayang has built an impressive track record for innovation, quality, skills and expertise.
Achievement:DESB is also recognised by our customers where we have received a total of 14 awards to date. These include recognition for stellar operational and Health, Safety and Environment achievements, safety excellence, zero lost time incidents and good safety record.
Petronas Approved License & Registration, Established Track Record, Experience in Supporting Diverse Types of Offshore Structures, Economies of Scale, Comprehensive In-House Skills & Expertise, High Quality Standards, Marine Vessels and Full Range of In-House Equipment & Tools.
Off shore oil rig: The average price for offshore oil-drilling rigs is approximately US $650 million.
Mini floating city: Offshore rigs vary in the specific type and layout, but they’re often like mini floating cities, with all of the amenities needed to live and work out on the ocean. No matter where the oil rig is located, it operates 24 hours a day, seven days a week no matter what the weather is like.
Pages 30 and 31 of Dayang’s right issues announcement document, show that it has been making increasing profit and it has additional maintenance contracts recently. According the SC rule, the company can offer up to 50% discount to the 5 days average price prior to the date of price fixing. It is most likely the Board of Directors will fix the right issue price at about 80 sen a share to benefit all the shareholders and themselves. This will not depress the share price. Those who sold their holdings and expect to buy back at cheaper prices will be disappointed.
Based on this, its 3rdquarter result ending September which be announced before end of November should be better than the 2ndquarter result.
I trust this article will help investors know and understand what is Dayang’s expertise.
