$DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD)
Research by CGS
Add - TP RM4.00

"A prelude to a strong 2Q24F"

■ PETR’s 1H24 normalised net profit nearly tripled yoy with vessel utilisation in 2Q24 hitting its highest level since 3Q19.
■ The strong performance by PETR is a positive read-through for DEHB, in our view, and could lead to potential upside surprise to its 2024F earnings.
■ Reiterate Add with an unchanged GGM-based TP of RM4.00. DEHB remains one of our top picks in the Malaysian O&G sector and broader market.

Analyst:
Dharmini THURAISINGAM
dharmini@cgsi.com