"The outlook of the company as well as oil and gas industry will be healthier in 2021 on the premises that crude oil price would remain at current levels, which are reasonable to incite oil majors to undertake planned capital expenditure, ” Dayang said in a filing with Bursa Malaysia yesterday.
KUALA LUMPUR: Dayang Enterprise Holdings Bhd
, an oil and gas services company, says its revenue and earnings tumbled in the last quarter as the Covid-19 pandemic resulted in slower work orders and higher operating cost.
The company predicted a “healthier” year for the industry in 2021, based on the higher price of crude oil and the vaccine rollout.
“Going forward, we are of the opinion that the outlook of the company as well as oil and gas industry will be healthier in 2021 on the premises that crude oil price would remain at current levels, which are reasonable to incite oil majors to undertake planned capital expenditure, ” Dayang said in a filing with Bursa Malaysia yesterday.
“We also expect that the economic activities would be back to normal with the inoculation vaccine programme by the government, ” it added.
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