Annual Report
2015
|
DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
17
Dear Shareholders,
Despite the unrelenting decline of the crude oil
price froma high of USD110 per barrel in 2014 to the
current price of around USD33 per barrel, Dayang
has continued to forge ahead in 2015, generating
RM779mil of revenue and a respectable net profit
after tax of RM170mil. Achieving this positive
result during such a challenging year would not
have been possible without the tireless effort
of our dedicated employees and experienced
management staff. The team will be asked to put
in more effort in 2016 as we seek to become more
cost efficient while delivering on our remaining
RM3.8bil order book which should keep us busy
beyond 2018. Backed by a healthy balance sheet
in 2015, we decided to expand our long term
marine vessel capabilities through the acquisition
of our associate company, Perdana Petroleum
Berhad. If present market conditions persist,
Dayang’s short term approach is to prioritise
sustainability via prudent cash flow management
while upholding our strong operational track
record. Concurrently, the Group will also seek to
lower costs and cautiously grasp at any suitable
opportunities which could add to our long term
execution capabilities.
Message
to Our
Shareholders
On behalf of the Board of Directors, it is with great pleasure that we
present to you the Annual Report for Dayang Enterprise Holdings
Berhad for the financial year ended 31 December 2015.
