Dayang estimates that the call-out value from the new contracts to be about RM4bil for the primary five years.
PETALING JAYA: Having secured three contracts for a primary period of five years recently, with options for extension, Dayang Enterprise Holdings Bhd
is estimating the call-out value from these contracts to be about RM4bil for the primary five years.
It said this would increase its existing estimated call-out contracts to RM5.3bil and improve earning visibility for the next five years. As such, going forward, the group said it will continue to participate in new tender activities and with a good execution track record, it is confident it would be able to secure more tenders in the future.
Dayang saw net profit for its third quarter (3Q24) surge 76.7% year-on-year (y-o-y) to RM134.9mil, as revenue also climbed 30.5% to RM448.5mil.
It said the higher income was principally attributable to higher vessels utilisation rates of 86% as compared to 80% in the corresponding quarter of last year.
Aside from these factors, Dayang pointed out that the impact of foreign exchange (forex) differences also contributed to a higher profit for the current quarter due to the strengthening of the ringgit.
“A net realised and unrealised forex gain of RM49.9mil has been recorded in the current quarter as compared to a net realised and unrealised forex loss of RM1mil in the corresponding quarter of 2023,” it said in a filing with Bursa Malaysia.
Net earnings for the nine months ended September 2024 (9M24) more than doubled to RM294.3mil as turnover also increased by 51.1% y-o-y to RM1.15bil.
Improved daily charter rates and lower finance costs incurred during the quarter had helped boost its 9M24 income and net earnings, Dayang said.
