Bad weather and flattish demand to affect offshore player

The research house expects the group to post sequentially weaker earnings in the fourth quarter of financial year 2020, given the monsoon season, while Petronas has guided for flattish demand for offshore maintenance and hook-up and commissioning in 2021 as compared to 2020 levels.

PETALING JAYA: Kenanga Research has downgraded Dayang Enterprise Holdings Bhd to “market perform” following the recent increase in its share price and weaker outlook moving forward.

The research house expects the group to post sequentially weaker earnings in the fourth quarter of financial year 2020, given the monsoon season, while Petronas has guided for flattish demand for offshore maintenance and hook-up and commissioning in 2021 as compared to 2020 levels.