Dayang Enterprise Holdings Berhad
Dayang Enterprise Holdings Berhad
Dayang Enterprise Holdings Berhad (Dayang) is an investment holding company that
has three wholly owned subsidiaries under its wing -- Dayang Enterprise Sdn Bhd
(DESB), DESB Marine Services Sdn Bhd (DMSSB) and Fortune Triumph Sdn Bhd (FTSB).
The company's operations commenced with DESB in 1980 whose initial business was
the trading of hardware materials and supply of manpower for the offshore oil
and gas industry.
This was however expanded to include provisioning of maintenance services,
fabrication operations, hook-up and commissioning and charter of marine vessels.
Since its inception, the company has been awarded with numerous contracts
including those by Petronas Carigali, Sarawak Shell Berhad and ExxonMobil.
Inline with its emphasis on quality, DESB was accredited with an MS
ISO 9001:2000 Quality Management System certified by SIRIM QAS
International Sdn Bhd in June 1999.
Dayang’s subsidiary, Dayang Enterprise Sdn Bhd (DESB) undertakes the
overall provision of maintenance services, which focuses on the
- Maintenance of Topside structure
- Maintenance of pipes and valves and
- Electrical and instrumentation
The maintenance services are provided either on a routine or
scheduled basis or during a breakdown or emergency, in which case
maintenance works are undertaken due to fault or failure.
Fabrication generally refers to the valued-added process of
constructing structures out of various raw materials, primarily
metal. Dayang undertakes engineering and fabrication services to
meet the needs of its customers including onshore fabrication for
products such as pipe and valve systems, skids and other steel
structures such as hand rails and helideck extensions.
Dayang currently have two fabrication yards cum warehouses name
Labuan Yard at Kampung Rancha-Rancha, Labuan, FT and Kemaman Yard at
Kemaman Supply Base, Kemaman, Terengganu.
also undertakes the provision of hook-up and commissioning for steel
structures and electrical and instrumentation services as part of
its supporting products and services to the oil and gas industry.
Some of the tasks related to hook-up and commissioning of electrical
and instrumentation includes electrical engineering; system design;
equipment and system procurement; wiring including laying of new
wires and cables; panel installation and wiring; and testing and
subsidiary, DESB Marine Services Sdn Bhd (DMSSB) obtained a Domestic
Shipping License from the Domestic Licensing Board in September 2005
that allows the company to provide workboat and floating
5-10, Lot 46, Block 10, Jalan Taman Raja, Miri Concession Land
District, P.O. Box 1134, 98000 Miri, Sarawak, Malaysia.
Tel: 085-420 185 / 428 185 Fax: 085-421 654
Review of performance 31 March 2012
Comparatively, the Group’s revenue for the current quarter ended 31
March 2012 decreased by 10% while profit before tax for the current
quarter decreased by 9% when compared to the corresponding quarter ended
31 March 2011. The lower revenue in the current quarter as compared to
the corresponding quarter is mainly due to inclement weather resulting
in lower value of work orders received and performed in the current
quarter for the topside maintenance services, the hook-up commissioning
and maintenance services and the marine segment.
revenue decreased by RM8.5 million ie 10%, profit before tax for the
current quarter decreased by RM2.0 million ie. 9% in view of the fact
that the work orders in the current quarter have a more or less similar
profit margin contribution as those in the corresponding quarter. The
fair value of investment in Perdana Petroleum Berhad, categorised as
available-for-sale financial assets, is determined by reference to its
quoted closing bid price at the end of the reporting period.
value change of this investment is recognised in other comprehensive
income, net of tax and is regarded as unrealised. Unless there is a
substantial or prolonged impairment on the investment, the subsequent
changes in fair values thereof shall be reflected as such until such
time when the investment is disposed of and any gain or loss on such
disposal shall be recognised in the the profit or loss for the period in
which the disposal is effected.
opinion of the Directors, the results for the current quarter and
financial year-to-date have not been affected by any transactions or
events of a material nature which have arisen between 31 March 2012 and
the date of this report.
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