PETALING JAYA: Dayang Enterprise Holdings Bhd expects offshore activities to remain firm through the remainder of its current financial year.
In a Bursa Malaysia filing, the company said this outlook is underpinned by sustained vessels utilisation rates and a relatively stable crude oil price environment, which continue to support demand for offshore maintenance, construction and support services.
For its second quarter ended June 30, 2026 (2Q26), Dayang’s net profit dropped to RM32.84mil from RM76.64mil in the previous corresponding period, while revenue in 2Q26 fell to RM161.18mil from RM267.35mil a year earlier.
Dayang said the lower revenue was primarily attributable to fewer work orders and contracts being converted by oil majors under topside maintenance contracts.
“In addition to the revenue-related factors previously mentioned, the lower profit was also impacted by the absence of a net realised/unrealised foreign exchange gain, which had contributed RM19.6mil to profit before tax in the corresponding quarter.”
For the six-month period ended June 30, 2026, the company’s net profit dropped to RM54.36mil from RM88.95mil in the previous corresponding period, while revenue fell to RM293.53mil from RM421.17mil previously.