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

"A blowout quarter"

■ DEHB’s 2Q24 normalised net profit of RM129.7m was a new quarterly record, due to higher OSV earnings and work orders for its core operations.
■ Management indicated 3Q24F could also be as strong. 1H24 results were a strong beat to our above-consensus forecasts.
■ Reiterate Add and GGM-based TP of RM4.00. We see the 16% pullback from its recent high in Jun 2024 as a good opportunity to accumulate.

Analyst:
Dharmini THURAISINGAM
dharmini@cgsi.com