Dayang Enterprise Higher In Early Trade After Securing Petronas Carigali Contracts

KUALA LUMPUR, March 25 (Bernama) -- Dayang Enterprise Holdings Bhd's share price rose in early trading today after securing three work order contracts from Petronas Carigali Sdn Bhd.

In a note today, CIMB Securities Sdn Bhd said that the contracts, with a three-year period plus a two-year extension option, are expected to contribute up to RM444.4 million in revenue. 

CIMB Securities maintained a 'Buy' call on Dayang Enterprise, supported by the tight market supply and its strong net cash position, projecting stable vessel utilisation rates of around 70 per cent in 2025. 

At 9.41 am, Dayang Enterperise's share price was 5.0 sen higher to RM2.00, with 647,600 shares traded.

-- BERNAMA