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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 following areas:

- 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.

Dayang 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 commissioning.

Dayang’s 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 accommodation services.

Contact Information

Sublot 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   Email: inquiry@desb.net

 

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.

Whilst 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.

The fair 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.

In the 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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