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Hot Stock Daya Materials rises 6% on O&G prospects
by Cals Mon 20 May 2013, 12:37
Hot Stock Daya Materials rises 6% on O&G prospects
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Monday, 20 May 2013 12:02
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KUALA LUMPUR (May 20): DAYA MATERIALS BHD [] rose by 6.12% to a high of 26 sen today after a local daily reported that the company’s oil and gas (O&G) division is aiming to become the company’s biggest profit contributor.
At 11:35 am today, Daya Materials gained one sen to 25.5 sen as 36.52 million shares changed hands. It was the fourth most active stock on the exchange.
Last week, the counter closed flat at 22.5 sen for four consecutive days until Friday, where it jumped 8.89% to 24.5 sen. A total of 105.4 million shares were traded on that day.
Public Investment Bank analyst Nuraida Mohd told theedgemalaysia.com that Daya Materials’ counter gained interest after a local daily’s interview with Mark Midgley, the CEO of Daya Materials’ subsidiary Daya Offshore Corporation.
In the interview, Midgley said he expects margins of not less than 20% from the RM150 million-contract for the Tapis enhanced oil recovery and rejuvenation and Telok gas development project.
“While Daya Materials’ CONSTRUCTION [] division has a bigger order book value than its O&G division’s, the latter will provide a better margin (than the former),” Nuraida said over telephone.
She also said the company is therefore giving a better focus on its O&G business, given that the segment plans to provide the biggest income to the company.
“I doubt that Daya Materials will sell off its construction business as it still contributes positively to the company. However, its polymer business (Daya Polymers Sdn Bhd) is currently doing negative in earnings. They (Daya Materials’ management) have thought of disposing of the business but is looking for a good price to do so,” Public Investment Bank’s Nuraida told theedgemalaysia.com.
Bloomberg data show that Daya Materials’ net profit for the past three consecutive years ended December 31 were growing, though at a crawling rate.
In FY10, its net profit came in at RM16.91 million and grew to RM17.38 million the next year. In FY12, Daya Materials’ net profit was RM19.66 million.
Daya Materials is scheduled to go ex-date on July 29 for its first and final dividend of 2.5%.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Monday, 20 May 2013 12:02
A + / A - / Reset
KUALA LUMPUR (May 20): DAYA MATERIALS BHD [] rose by 6.12% to a high of 26 sen today after a local daily reported that the company’s oil and gas (O&G) division is aiming to become the company’s biggest profit contributor.
At 11:35 am today, Daya Materials gained one sen to 25.5 sen as 36.52 million shares changed hands. It was the fourth most active stock on the exchange.
Last week, the counter closed flat at 22.5 sen for four consecutive days until Friday, where it jumped 8.89% to 24.5 sen. A total of 105.4 million shares were traded on that day.
Public Investment Bank analyst Nuraida Mohd told theedgemalaysia.com that Daya Materials’ counter gained interest after a local daily’s interview with Mark Midgley, the CEO of Daya Materials’ subsidiary Daya Offshore Corporation.
In the interview, Midgley said he expects margins of not less than 20% from the RM150 million-contract for the Tapis enhanced oil recovery and rejuvenation and Telok gas development project.
“While Daya Materials’ CONSTRUCTION [] division has a bigger order book value than its O&G division’s, the latter will provide a better margin (than the former),” Nuraida said over telephone.
She also said the company is therefore giving a better focus on its O&G business, given that the segment plans to provide the biggest income to the company.
“I doubt that Daya Materials will sell off its construction business as it still contributes positively to the company. However, its polymer business (Daya Polymers Sdn Bhd) is currently doing negative in earnings. They (Daya Materials’ management) have thought of disposing of the business but is looking for a good price to do so,” Public Investment Bank’s Nuraida told theedgemalaysia.com.
Bloomberg data show that Daya Materials’ net profit for the past three consecutive years ended December 31 were growing, though at a crawling rate.
In FY10, its net profit came in at RM16.91 million and grew to RM17.38 million the next year. In FY12, Daya Materials’ net profit was RM19.66 million.
Daya Materials is scheduled to go ex-date on July 29 for its first and final dividend of 2.5%.
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