[%bktk%]
Research by Kenanga
Outperform – TP RM3.31

“Inclusion in the OSV Panel"

DAYANG has been appointed by Petronas Carigali as one of the panel contractors for offshore support vessels (OSVs) for a three-year period. This is a positive development, as it allows DAYANG to potentially benefit from higher charter rates for its vessels in the coming years. We maintain our earnings forecasts as we have already imputed 80% vessel utilisation and 13% rate increase for its vessels for FY24F and FY25F, TP of RM3.31, and OUTPERFORM call.

Analyst:
Lim Sin Kiat, CFA 
[%TKcY%]

$KLSE-DAYANG
Research by Kenanga
Outperform – TP RM3.31

“Inclusion in the OSV Panel"

DAYANG has been appointed by Petronas Carigali as one of the panel contractors for offshore support vessels (OSVs) for a three-year period. This is a positive development, as it allows DAYANG to potentially benefit from higher charter rates for its vessels in the coming years. We maintain our earnings forecasts as we have already imputed 80% vessel utilisation and 13% rate increase for its vessels for FY24F and FY25F, TP of RM3.31, and OUTPERFORM call.

Analyst:
Lim Sin Kiat, CFA 
limsk@kenanga.com.my

$DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD)