KUALA LUMPUR: Dayang Enterprise Holdings Bhd
’s net profit for the second quarter ended June 30, 2025 (2Q25) slipped to RM76.64mil from RM131.43mil in 2Q24.
In a filing with Bursa Malaysia, the company said its revenue fell by 41% to RM267.35mil against RM455.84mil previously due to a lower vessel utilisation rate of 64% as compared to 91% in 2Q24.
This decline was mainly driven by the delay in oil majors’ contract commencement and the drydocking of two anchor-handling tug supply vessels in April and June 2025 for ship class extension, it added.
For the first half ended June 30, 2025 (1H25), the company’s net profit dropped to RM88.95mil against RM159.34mill in 1H24, while revenue slid by 40% to RM421.17mil versus RM702.96mil previously.
The company said it is confident that solid activities will continue in the third quarter and taper off in the fourth quarter, given its performance in 2Q25, supported by steady vessel utilisation. — Bernama
