Annual Report
2015
|
DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
21
the expense of tarnishing our solid HSE track record.
The Group’s excellent HSE performance in 2015 has
been recognised by our clients through the following
awards:
1.
Safety Award for Safe Completion of Helang
15S2 Shutdown 2015 by JX Nippon Oil & Gas
Exploration
2.
Shell
Malaysia
Safety
partnership
&
Collaboration Recognition 2014
3.
Certificate of Appreciation 2015, PCSB SKO
Monthly Service Provider HSE Liaison by
Petronas.
Prospects
At this juncture, we would like to reassure our
shareholders thatDayang is still in the thickof theaction
where Malaysian HUC and offshore maintenance
activities are concerned. Furthermore, the current
market trend sees Exploration & Production (E&P)
companies being more inclined towards smaller
maintenance and Brownfield jobs rather than new
Greenfield projects. Regardless of the direction in
which the oil price takes, we are banking on the
fact that our country’s ageing production facilities
will continue to operate and as such will continue
to require routine maintenance and Brownfield
modifications. Thus, there will still be work for us to bid
on even in the short to medium term albeit not with
the same volume and margins enjoyed in the past.
Typically, it is easy for companies to do well under
favourable economic conditions. It is only when times
get tough that we are able to separate the wheat
from the chaff, or if you prefers, the oil from the water.
In 2016, Dayang intends to not only survive but to
forge ahead of the competition by:
1)
Staying true to our tradition of maintaining a
sustainable balance sheet via careful cash flow
management.
2)
Preserving our established relations with clients
which means being aware of their changing
needs and continuing to deliver quality on all
outstanding contracts.
3)
Reengineering our business model into one
with a lower cost base through operational
streamlining, newfound synergies with Perdana
and cost reviews of our supply chain.
4)
Gradually expanding our long term execution
Message to Our Shaholders
(cont’d)
