Dayang Enterprise 2Q Net Profit Falls To RM76.64 Mln
KUALA LUMPUR, Aug 21 (Bernama) -- Dayang Enterprise Holdings Bhd’s (Dayang) net profit for the second quarter ended June 30, 2025 (2Q 2025) slipped to RM76.64 million from RM131.43 million in 2Q 2024.
In a filing with Bursa Malaysia, the company said its revenue fell by 41 per cent to RM267.35 million against RM455.84 million previously, due to lower vessels utilisation rate of 64 per cent as compared to 91 per cent in the 2Q 2024.
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.
“In addition, the decreased volume in the chartering of third-party vessels and fewer work orders/ contracts awarded from oil majors received under topside maintenance contracts further contributed to the decline in revenue,” said Dayang.
For the first half ended June 30, 2025 (1H 2025), the company’s net profit dropped to RM88.95 million against RM159.34 million in 1H 2024, while revenue slid by 40 per cent to RM421.17 million versus RM702.96 million 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 2Q 2025, supported by steady vessel utilisation and overall industry in the midst of a plethora of shutdowns and turn around activities.
“For the financial year ending Dec 31, 2025, earnings visibility will remain stable with an outstanding call-out contracts of about RM5 billion.
“We are working towards securing more contracts given our current and past performance. We will remain vigilant in managing our business affairs while continuing to deliver outstanding performance,” it said.
-- BERNAMA