KUALA LUMPUR: DAYANG ENTERPRISE HOLDINGS BHD, an oil and gas contractor, said annual revenue surpassed the RM1bil mark for the first time on robust maintenance job orders and higher vessel utilisation rate.
Net profit for the full year ended Dec 31, 2019 climbed 44% to RM236mil, a new high.
"We remain upbeat on the company’s future prospects as Dayang will leverage on its strong execution track record to ride on the ramp-up in business activities," it said in a filing with Bursa Malaysia today.
The company said during the second half of 2019, more work orders with higher values were issued and executed.
Dayang secured two I-HUC contracts from Petronas Carigali in December and in February added on another contract by CARIGALI-PTTEPI Operating Company Sdn Bhd.
Both these replenishment of new contracts have increased its order book to an estimated RM4.5bil.
"This will positively enhance our prospects and earnings visibility over the next three years," it said.
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